Tuesday, 26 May 2015
Last updated 3 days ago
Sep 7 2012 | 11:21am ET
The Blackstone Group has raised about $1.5 billion for a new fund that will fall somewhere between its liquid hedge funds and its private-equity vehicles.
The Tactical Opportunities fund will invest in assets illiquid enough to scare away most hedge funds, but more liquid than a typical private-equity investment, Bloomberg News reports. The fund will be led by David Blitzer, who set up Blackstone's European p.e. business a decade ago. Blitzer will oversee a nine-strong investment team, including real-estate specialist Chad Pike.
Tactical Opportunities will take advantage of Blackstone's private equity, hedge fund and real-estate businesses, sourcing its own investments from those sourced by the three units. The fund "pursues a global multi-asset approach to investing in illiquid assets," Blackstone said on its web site.
Blackstone has been fundraising for Tactical Opportunities since last year.
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…