Blackstone, the US private equity firm, has appointed Hanns Ostmeier to open an office in Hamburg as prospects grow for Germany as a source of large buy-outs.

Ostmeier left BC Partners, the pan-European large buy-out firm, last December. He worked for the firm for seven years, and was a managing director in Hamburg. He said: "Blackstone's signature method of working with major corporate partners in strictly friendly transactions is an approach that will be particularly attractive to European audiences."