Blackstone aims beyond ‘mass affluent’ for new fund

Blackstone was preparing to roll out a vehicle giving investors “access to the full breadth of the firm’s strategies” in infrastructure, including equity, secondaries and credit, the firm’s president, Jon Gray, said. — Bloomberg

NEW YORK: Blackstone Inc has debuted an infrastructure fund targeting individuals with at least US$5mil of investments, departing from the paths of rivals such as KKR & Co and Apollo Global Management Inc that have courted the less-wealthy “mass affluent” for such funds.

The New York-based money manager filed a registration last Friday for Blackstone Infrastructure Strategies, the latest vehicle from an alternative asset manager to raise infrastructure funding from individual investors.