Hedge Funds

Blackstone Group adds to single-manager platform


Blackstone Group is slowly ramping up its new single-manager hedge fund platform.

Manish Mittal, a former portfolio manager at Perry Capital, has joined Blackstone as a partner and senior managing director to run a new long/short equity fund. It is the second hedge fund on Blackstone's platform. As part of the agreement, Blackstone will take a minority share of the fees generated by Mittal's new fund. Mittal's resume boasts stints at such high-profile firms as SAC Capital Advisors and Kingdon Capital.

Blackstone is expected to roll out the new launch at the end of the year. Mittal will focus