Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

According to people familiar with the companys plans, the biggest investor in hedge funds in the world – Blackstone Group LP – is preparing to improve its 58-billion-dollar fund of hedge funds division. The companys unit, Blackstone Alternative Asset Management, intends to release its own investment platform in order to get the opportunity to hire individual hedge fund managers.

Blackstone Group LPs vice chairman Mr. Tom Hill said a couple of weeks ago in a statement, cited by Bloomberg: “We expect by the end of 2016 to have multiple billions in this new platform.” Mr. Hill was speaking exactly of the hedge-fund unit of the company, which has been expanded from 2 billion dollars in 2000 to more than 58 billion dollars at present.

As reported by the people with direct knowledge of the matter, who asked not to be identified because the process is still private, Blackstone Group LP is signing on a team of three traders to form the first fund of such kind. The team is to manage client capital and borrowed money that amount to about 500 million dollars in order to make bets on and against stocks in 2014.

Companys focus has been on investing in third-party funds and taking stakes in hedge-fund managers, while now it is shifting its strategy towards finding fresh and talented individuals in order to start its own teams of traders.

The new team of traders will be overseen and put under the valuation of Vice Chairman Hill along with Parag Pande and Gideon Berger, which joined the company in 2014.

Blackstone Group LP was 0.06% down to close at 33.44 dollars per share in New York yesterday, marking a one-year increase of 58.78%. According to data published by CNN Money, the 16 analysts offering 12-month price forecasts for Blackstone Group LP have a median target of 37.50, with a high estimate of 44.00 and a low estimate of 35.00. The median estimate represents a +12.14% increase from the last price of 33.44.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • IBM tops estimates, adjusts company outlookIBM tops estimates, adjusts company outlook IBM adjusted its operating profit forecast for the year after beating analysts’ earnings forecasts for the second quarter, but said that an asset sale was now unlikely before the end of 2013.Last three months, IBM said revenue fell 3.3% to […]
  • EUR/USD remained close to six-month highsEUR/USD remained close to six-month highs The euro was trading in proximity to six-month highs against the US dollar on Wednesday, as the lack of clarity, regarding Federal Reserve Banks easing program, was still present and was causing the main influence on investors […]
  • Crude oil futures weekly recap: March 23 – March 27Crude oil futures weekly recap: March 23 – March 27 West Texas Intermediate and Brent crude tumbled on Friday, paring hefty overnight gains, as investors downplayed Mideast supply disruption concerns while also fearing a possible nuclear deal between Iran and major powers.US crude for […]
  • EUR/USD on new seven-week highsEUR/USD on new seven-week highs The euro advanced to a fresh new seven-week highs against the greenback on Thursday, as uncertainty over the future of Federal Reserve Banks Quantitative Easing continued to persist, reflecting on the demand for the US dollar.EUR/USD […]
  • Forex Market: NZD/USD daily trading forecastForex Market: NZD/USD daily trading forecast Yesterday’s trade saw NZD/USD within the range of 0.6295-0.6351. The pair closed at 0.6331, up 0.16% on a daily basis and extending gains from Friday. The daily high has also been the highest level since September 10th, when the cross […]
  • USD/CAD bounced from session lowsUSD/CAD bounced from session lows US dollar distanced from its lowest point on Monday against the Canadian currency, while earlier the loonie advanced on upbeat Canadian building permits data.USD/CAD fell to a session low at 1.0362 at 12:32 GMT, the pairs lowest point […]