Launches & Closures Hedge Funds

BlackRock launches first U.S. equity hedge fund

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Chief equity strategist Robert Doll will co-manage the new large-cap offering.

 
  Bob Doll (Source: Bloomberg)

BlackRock, the world’s largest asset manager, is now running a U.S. equity hedge fund.

The BlackRock Large Cap Series Hedge Fund launched January 1 and managed $5 million as of January 31, according to a short profile written by Citigroup’s capital introductions group. A more recent figure was unavailable and a spokesperson for BlackRock declined to comment.

BlackRock managed $3.51 trillion overall at yearend, including $28 billion in single manager hedge fund assets. The new fund, however, is the first to focus on U.S. stocks and fills an obvious gap given BlackRock’s