Blackstone Readies Fund Of Former Proprietary Traders’ Hedge Funds

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.


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