The world’s largest investor in hedge funds has hired senior hedge fund manager Scott Bommer to launch a new growth strategy, a move aimed at Blackstone Group Inc.’s hedge fund business. expand with offers that are intended to generate great results for clients.
The Blackstone Horizon platform, which will be run by Mr. Bommer, will thematically invest in money managers with a focus on fast-growing public and private companies, Blackstone said. Horizon also invests directly in stock markets.
The Blackstone industry’s main hedge fund has outperformed some of the wealthy product that came from growing investments in recent years as its low-maintenance, mobile approach is focused on consumer care. domesticize dealings. Blackstone in January hired former Brown University head of operations Joe Dowling to run his hedge fund business with John McCormick, saying at the time that his hiring signaled a new focus on hedge funds as vehicles that could generate large yields and withstand volatility.
Mr Bommer, 54, is Mr Dowling’s first employer. The private equity firm in general has been pushing to invest more in fast-growing companies and has recently made a bet in dating app owner Bumble and oat milk maker Swedish Oatly AB.
“There’s a huge opportunity with the ongoing unrest as tech is now going through these different industries,” said Mr. Bommer, former head of SAB-based Capital Management. in New York for 17 years before closing in 2015 to manage his own money.