Blackstone India Real Estate Executive Gupta Is Said to Leave

Blackstone Group Inc. managing director Siddhartha Gupta is set to leave the U.S. investment firm by the end of this year, according to people familiar with the matter.

The Mumbai-based executive plans to start his own business with a focus on real estate, said one of the people, asking not to be identified as the information is private. Gupta, who spent a decade with Blackstone, aims to advise foreign institutional investor clients targeting the country’s property sector, the person said.

A representative for Blackstone declined to comment.

Gupta joined Blackstone in 2010 after working for Bank of America Corp.’s real ...