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

Diversified Multi-Strategy fund

clock • 1 min read

Blackstone has told clients it is set to close its diversified multi-strategy fund at the end of this year, after assets dropped by nearly 90% in four years.

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...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Alternatives

Trustpilot