Reuters – Blackstone was the largest fund of hedge funds last year ahead of banking groups HSBC and UBS , according to a survey which showed that the total assets managed by these types of investors failed to grow amid criticisms of high fees.
New York-based Blackstone Alternative Asset Management managed $39 billion in hedge fund assets as of December 31, up 15 percent on the year, InvestHedge’s Billion Dollar Fund of Hedge Fund Club survey said.
