Saturday, 10 December 2016
Last updated 19 hours ago
Feb 14 2014 | 8:03am ET
Rather than strike out on his own, former Ziff Brothers Investments trader Parag Pande has joined one of the largest alternative investment firms in the world.
Pande became head of research at the Blackstone Group's fund of hedge funds business this week. The post at Blackstone Alternative Asset Management, the world's largest hedge fund investor, is new, and will see Pande evaluate hedge funds and seek out emerging managers for Blackstone's seeding funds.
Pande was an industrials trader at Ziff Brothers' U.S. hedge fund operation. The family office, which seeded Och-Ziff Capital Management 20 years ago, decided to shut down that business last year. Pande was among a large number of Ziff Brothers veterans expected to launch his own hedge fund following that move.