Blackstone Set For Mutual Fund Push

Jun 12 2013 | 10:18am ET

The Blackstone Group is moving forward with plans to launch a range of mutual funds.

CEO Stephen Schwarzman told the Morgan Stanley Financials Conference that the alternative investments giant would seek to tap growing retail demand for such products with mutual funds. He said that everyday investors were beginning to gain a better understanding of alternatives, and that financial advisers are seeking greater exposure to them.

"We have one product that's going to be coming out, a mutual-fund complex," Schwarzman said. "This is getting slow and steady receptivity. This is more of an everyday-type offering."

Blackstone hedge fund chief Tom Hill said last month that the firm would launch a mutual fund this year, targeting defined-contribution pension plans.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Saxby: Not All EBITDA Is Created Equal

Nov 30 2017 | 8:02pm ET

Record levels of dry powder are driving competition among private equity firms to...

 

From the current issue of