Blackstone to close multi-strategy fund as assets tumble 90%

The closure, first reported by the FT, was confirmed by the firm. Citing figures compiled by Kepler Absolute Hedge, the newspaper said the fund's assets fell from £1.7bn at the end of December 2019 to £192m on 27 October. Inside Blackstone's multi-million dollar mission to democratise private markets Launched in September 2014, the Irish-domiciled Blackstone Diversified Multi-Strategy sought to provide investors with a diversified blend of alternative strategies and hedge fund managers in a single daily liquid UCITS fund. A Blackstone spokesperson said: "This is a small, legacy fun...