(Reuters) After nearly two decades of growing Blackstone Group into the world’s biggest hedge fund investor with some $74 billion in assets, J. Tomilson Hill is passing the baton.Blackstone has promoted John McCormick to president and chief executive of hedge fund unit Blackstone Alternative Asset Management (BAAM) and Hill will become its chairman, the company told Reuters on Thursday. The change is effective immediately. Hill, the face of hedge fund investing at the private equity giant since he was tapped to help put the partners’ money to work in 2000, plans to stay at Blackstone for now. He will remain on Blackstone’s board and its 11-person management committee.
Blackstone’s Hill Hands Hedge Fund Reins to Mccormick
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