Saturday, 28 November 2015
Last updated 1 day ago
Sep 29 2010 | 8:56am ET
The Blackstone Group’s fund of hedge funds unit has struck upon a new business line: seeding former proprietary traders’ new hedge funds.
Blackstone Alternative Asset Management plans to launch a fund dedicated to seeding traders chased from banks by the newly-enacted Volcker rule, which bars proprietary trading. The new vehicle could close as soon as next month, Reuters reports.
The move comes after BAAM agreed to back a new hedge fund headed by Credit Suisse’s top commodities arbitrage trader, George Taylor. Blackstone is investing $150 million in the unnamed fund, which will invest in commodities and energy, as well as currencies and other macro strategies.
BAAM has $28.5 billion in assets under management.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…