Blackstone, which invests US$79bil in hedge funds, is making the investment with cash from its US$1.5bil Strategic Alliance Fund III which backs new entrants into the hedge fund industry.
BOSTON: Blackstone Group, the world’s largest hedge fund investor, is committing US$150mil in start-up capital to a hedge fund run by a former senior executive at Lone Star Funds, two sources familiar with the matter said.
Anand Balakrishna Madduri is launching ApaH Capital Management with roughly US$200mil in assets, including the capital from Blackstone, one of the people said.
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