Blackstone Readies Seeding Fund For Q1 Launch

Dec 11 2009 | 1:02pm ET

Alternative investment behemoth The Blackstone Group is gearing up to launch a new seeding fund.

The new vehicle will be managed by Blackstone Alternative Asset Management, and is expected to begin trading early next year with more than $1 billion, according to Alternative Investment News.

The fund, which has not been named, will reportedly have a similar strategy to the firm’s existing seeding fund, Strategic Alliance. While the new fund is open to investing in all types of managers, it is expected to focus on long-short equity, distressed debt, global-macro and commodities funds. 

The firm, which now seeds eight alternative investment managers through the Strategic Alliance fund, expects to add two more managers to its lineup in Q1, and may seed as many as 12 more within two years.

As of the end of September, The Blackstone Group had $96.3 billion in assets under management, with $47.5 billion of this being managed by the firm’s alternative investment unit.


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