Saturday, 27 December 2014
Last updated 2 days 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
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.