Thursday, 21 August 2014
Last updated 7 min ago
Feb 13 2014 | 1:19pm ET
The Blackstone Group has raised $1.4 billion to invest in hedge fund managers, it said yesterday.
The alternative investments giant launched the effort a year ago, hiring former Barclays alternative asset management chief Anthony Maniscalco to lead it. Blackstone is seeking between $3 billion and $4 billion for the effort, which will take minority stakes in hedge-fund firms.
"You have an opportunity not only to benefit from their growth but also to look down the road at creating a public vehicle for that," Blackstone Vice Chairman J. Tomlinson Hill told a Credit Suisse forum in Florida. "We will, in our mind, dominate that space the way we have dominated the seeding space."
Blackstone follows the likes of Goldman Sachs, Neuberger Berman Group and Kohlberg Kravis Roberts in seeking a piece of the hedge fund business through minority stakes.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note