Thursday, 26 March 2015
Last updated 37 min 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…