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Blackstone, Fidelity Offer HFs to Retail Clients

Aug 12, 2013
Jing Chen

Hedge fund investor Blackstone Group and Fidelity Partners have teamed up to offer hedge fund investments to retail clients.

Reuters reported that Boston-based Fidelity’s Portfolio Advisory Service has started investing in Blackstone’s Alternative Multi-Manager Fund.

The new offering, which launched out of Blackstone Alternative Asset Management’s mutual fund portfolio last month, allows retail clients access to hedge fund investments by allocating assets to a variety of traditional and alternative investment subadvisers.

Investors must allocate a minimum of $50,000 to the fund.

BAAM manages approximately $49 billion in assets, while Fidelity has about $451 billion allocated to various funds.


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