Blackstone Unveils Retail Alternative Investment Product

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.


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Cooper-Hohn Won't Contest Divorce Settlement

Dec 18 2014 | 9:51am ET

The ex-wife of hedge fund billionaire Christopher Hohn will not contest a divorce...

Guest Contributor

Controlling With Confidence: A ‘How-To’ For Hedge Fund Managers

Dec 22 2014 | 11:52am ET

Hedge funds are increasingly turning to third party services to help with operations...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.