Blackstone Nets $1.4 Billion For Hedge-Fund Stakes

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.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of