Saturday, 23 May 2015
Last updated 21 hours ago
May 17 2013 | 2:41pm ET
The Blackstone Group is set to launch a new hedge fund that will invest in other hedge fund managers' top trades.
The planned "super" hedge fund will be something akin to a best ideas fund of hedge funds. Run by former Duquense Capital Management partner Greg Geiling, the vehicle will ask managers of hedge funds Blackstone's funds of funds already invest in to submit their best and more interesting trade ideas for a fee.
"It's a sort of Harlem Globetrotters' fund of the best ideas from across the spectrum," one source told the Financial Times.
While most hedge fund managers carefully guard their trading ideas, Blackstone is betting that both their fee—and growing risk constraints that keep them from investing as much as they'd like on their best ideas—will overcome that resistance.
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…