New York (HedgeCo.net) – Hedge fund investor Blackstone Group has bought a minority stake in $13.6 billion multi-strategy hedge fund Magnetar Capital LLC, the WSJ reports.

“This transaction will help us continue to meet the objectives of our most important stakeholders—our investors and our employees—as we enter the next decade of our firm’s evolution,” Magnetar said.

In other news, Blackstone acquired three shopping centers in Portugal and Spain which will be managed by its European retail platform, Multi Corporation. Blackstone acquired these assets through the acquisition of the shares of the CG Malls Europe Fund. Multi is one of Europe’s leading shopping center owners and managers and owns and manages 25 assets in Portugal and Spain.

“These are all high-quality award winning assets originally developed by Multi that we will integrate into our operations in the region. We will use our skills as a leading pan-European operator to further improve their attraction for retailers and local consumers.” Jaap Blokhuis, Chief Executive Officer of Multi, said.

Blackstone also announced that Stephen A. Schwarzman, Chairman, CEO and Co-Founder of Blackstone, will present at Bernstein’s 31st Annual Strategic Decisions Conference in New York on Thursday, May 28.

Alex Akesson
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