Tuesday, 16 September 2014
Last updated 12 hours ago
Jul 17 2013 | 5:35am ET
The usually separate worlds of hedge funds and retail investment products just got a little closer. Blackstone Alternative Asset Management is launching its first hedge fund-like mutual fund.
Blackstone’s hedge fund unit, BAAM, which is the world’s largest discretionary allocator to hedge funds with approximately $49 billion under management, is developing this custom solution for a strategic investor. The new vehicle, Blackstone Alternative Multi-Manager Fund, will allocate assets among a variety of investment sub-advisers with experience managing alternative investment strategies. Blackstone may also manage a portion of the fund’s assets directly and may invest in unaffiliated hedge funds.
J. Tomilson Hill, vice-chairman of Blackstone and CEO of BAAM, said, “We are delighted to enter this market and to offer a daily liquid product that provides portfolio diversification through alternative strategies that are designed to be uncorrelated with those of traditional asset classes.”
Through the use of alternative investment strategies, Blackstone seeks to provide low beta to equity and fixed income markets.
Currently, sub-advisers in the fund include Two Sigma Advisers, Cerberus Sub-Advisory I, Credit Suisse Hedging-Griffo Servos Internacionais, HealthCor Management, Caspian Capital, Boussard and Gavaudan Asset Management, Wellington Management Company, Good Hill Partners, BTG Pactual Asset Management US, Chatham Asset Management and Nephila Capital.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?