Blackstone readies fund to let retail clients access hedge funds

Blackstone readies fund to let retail clients access hedge funds

(Reuters) – Blackstone Group LP, one of the world’s biggest hedge fund investors, is now giving retailclients a taste of these normally exclusive portfolios through a new mutual fund.

The Blackstone Alternative Multi-Manager Fund (BXMXX) will be run by the company’s hedge fund unit and be advised by nearly one dozen hedge funds, including Two Sigma Advisers, HealthCor Management and Good Hill Partners, the company said in a statement on Tuesday.

Best known as a private equity business, Blackstone’s hedge fund unit, Blackstone Alternative Asset Management, boasts strong industry credentials, having investing $49 billion with prominent firms including Pershing Square and D.E. Shaw & Co, and seeding newcomers like Marcato Capital Management and Bow Street LLC.

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