Blackstone Readies Mutual Fund Of Hedge Funds

Dec 7 2012 | 10:21am ET

The Blackstone Group will launch a mutual fund of hedge funds, becoming the latest industry player to embrace the retail vehicle.

The New York-based firm this week filed to register the Blackstone Alternative Investment Funds. Blackstone's move follows Kohlberg Kravis Roberts' July registration of two mutual funds.

The Securities and Exchange Commission filing was short on details; Blackstone did not specify when it hopes to launch the fund, a minimum investment requirement or its fee structure. But it did say that it would invest in global macro, opportunistic, quantitative and managed futures hedge funds.

Blackstone also said it would offer the fund through investment advisors, consultants, broker-dealers and others.

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