RTT News- Pipeline company Crestwood Midstream Partners LLC said Wednesday that Blackstone Group and its hedge fund GSO Capital Partners L.P. have acquired ownership interests in the company.

Houston, Texas-based Crestwood noted that as part of the deal, Blackstone and GSO, along with Kayne Anderson and Crestwood Management, LLC, have combined to provide it with $500 million in equity capital commitments in order to help it pursue the acquisition and development of North American midstream assets and businesses. The funding represents an increase from the existing $150 million in equity capital commitments.

Through their investment in Crestwood, Blackstone and GSO intend to capitalize on the significant growth opportunity in the midstream sector of the energy industry, which is supported by record supply development in many regions of the U.S., broad-based investment in new energy infrastructure projects and potential consolidation opportunities that may emerge in the coming years.

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West Palm Beach (Hedge Co.Net)- The Blackstone Group announced that Aaron Nieman will be launching Blackstone Altius Advisors, a new event-driven strategy focusing on opportunities in the Asia Pacific region. A global, highly experienced investment team will be headquartered in Hong Kong, with additional professionals based in Tokyo, Mumbai, and New York.

Nieman joined Blackstone from S.A.C. Capital Management, where he was a Managing Director in the Canvas Capital Management division.

"As Blackstone continues to aggressively seek opportunities within Asia, Aaron and his team will provide additional investment capability that will bolster our presence in the region." said Antony Leung, Chairman of Blackstone Greater China.

"Blackstone has a superior global alternative investment platform. It also employs some of the best professionals in the industry. The synergies that exist within Blackstone’s various businesses will provide us with a significant advantage investing in the Asia Pacific markets," said Aaron Nieman, Senior Managing Director and Chief Investment Officer of Altius Advisors.

In addition to Blackstone Altius Advisors, Blackstone’s other hedge funds in Asia include its corporate private equity fund (Blackstone Capital Partners), its real estate opportunity fund (Blackstone Real Estate Partners), its fund of hedge funds business and two closed-end mutual funds (The India Fund and The Asia Tigers Fund).

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Reuters- Sovereign wealth funds, which control up to $3.7 trillion in assets and have been making headlines as they buy assets in the West, will ultimately have the biggest impact on private equity and hedge funds, analysts at JPMorgan Chase said in a report on Thursday.

State-run investment funds currently own up to 7.5 percent of so-called alternative assets, or about $340 billion, and this stake could grow to as high as 17 percent by the end of 2012, said David Fernandez and Bernhard Eschweiler, analysts at the bank. "The main beneficiaries of the increased allocation by SWFs to alternatives are set to be private equity firms and hedge funds. These managers offer skills, resources and expertise that would be difficult for most SWFs to develop on their own," they said in the report. Indeed, last year one of the highest profile deals among sovereign wealth funds was the China Investment Co Ltd’s purchase of a $3 billion stake in U.S. private equity firm The Blackstone Group.

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