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

Dillon Eustace: The Advantages of ICAVs

Feb 11 2016 | 7:51pm ET

As the growth of alternative investment vehicles continues, global asset managers...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedging Against Reputational Risk in the 21st Century

Feb 12 2016 | 7:18pm ET

For investors, the first step in researching a new fund or manager is to google...