HedgeCo.net – NEW YORK and LONDON, Nov. 15 — Blackstone Alternative Asset Management (BAAM), a fund of hedge funds with approximately $15 billion dollars undermanagement, today announced that Gideon Berger, a Managing Director, will be heading the BAAM office in London effective January 2, 2007. The London office manages client relationships totalingapproximately $4 billion of BAAM’s assets.
Mr. Berger is currently based in New York and has been a critical member of the BAAM investment team focusing on asset allocation where he is involved in developing the firm’s top down investment views and ensuring they are optimally reflected in BAAM’s portfolios and customized accounts. During his career in BAAM he has also been involved in hedge fund manager risk analysis, as well as risk monitoring and analysis of BAAM’s portfolios. Mr. Berger serves on BAAM’s Investment and Executive Committees. As part of his move to London his role will expand to include responsibility for BAAM’s interests in Europe, the Middle East and the Pacific Rim. Before joining Blackstone in 2002, Mr. Berger was a founder and President of Ez-Ways, Incorporated, a technology startup, where he also served on the Board of Directors.
“Gideon’s appointment reinforces our commitment to being a truly global, institutionally focused fund of funds,” said J. Tomilson Hill, President of BAAM. He added, “Gideon’s move to London follows closely on our decision to move Alberto Santulin to London earlier this year to lead our European investment team, as well as our decision to move Greg Hall to Hong Kong to lead our Asian investment research team. As our investors become more global and we seek more investment opportunities overseas, adding more senior investment talent in Europe and the Pacific Rim makes sense.”
“The opportunities and challenges associated with advising our clients on their investment alternatives and providing them access to the best investment talent are growing,” explained Mr. Berger, adding, “We need to expand our presence globally if we are to stay at the forefront of our industry.”
Mr. Berger received a BA in Mathematics and Physics from Vassar College, an MS in Applied Physics from Columbia University and a PhD in Computer Science from the Courant Institute of Mathematical Sciences at New York University.
BAAM’s London office was established in November of 2001 with two professionals to spearhead BAAM’s efforts in Europe. This effort has resulted in asset growth from $50 million at the end of 2002 to the current $4 billion of client relationships managed out of London. The office now employs 13 people including five investment professionals and is continuing to expand BAAM’s presence in Europe. In addition, this year BAAM opened its first Asian office in Hong Kong, where there are currently four professionals.
Blackstone Alternative Asset Management
The Blackstone Group, a private investment and advisory firm with offices in New York, London, Mumbai, Hamburg, Hong Kong and Paris, was founded in 1985. BAAM, the firm’s marketable alternatives multi-manager investment management business, was formed in 1990 and has approximately $15 billion in discretionary marketable alternative assets. BAAM has grown to over 90 experienced professionals with deep experience in capital markets, portfolio management, risk management, accounting and client relationship managing. The Blackstone Group’s other six core businesses are Corporate Advisory Services, Restructuring and Reorganization Advisory, Private Equity Investing, Private Real Estate Investing, Distressed Securities Investing and Corporate Debt Investing. The Blackstone Group has raised over $67 billion for private alternative asset investing.
