Thursday, 3 September 2015
Last updated 13 hours 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…