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BlackRock hires Credit Suisse executive to bolster hedge fund unit

Reuters – BlackRock, the world’s largest money manager, hired Andy Stewart, head of one of Credit Suisse’s hedge fund units, to bolster its own alternatives business as it shutters a direct private equity strategy.

Stewart will co-head New York-based BlackRock’s hedge fund and private equity division alongside current leader Matt Botein, who will add the title of chief investment officer for alternatives, the firm said in a memo on Friday.

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