Hedge Funds

New path for Blackstone

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In a move to exploit the expertise of a private equity group in the public markets, Blackstone Group, better known in the hedge fund industry for its fund of funds products, is considering setting up a specialist long/short equity fund.

The fund makes eminent sense for the firm, which, as a leader in the private equity world, routinely executes exhaustive research of small companies that eventually will go public, as well as public companies seeking private financing.

Blackstone recently entered the single-manager world with a fixed-income hedge fund that sits in a separate company. Blackstone Relative Value now has $200