New York (HedgeCo.Net) – Columbia Management and Blackstone’s Alternative Asset Management sector are teaming up to research and develop investment solutions that leverage Columbia’s asset management capabilities and Blackstone’s hedge fund solutions business, Bloomberg reports.
“Collaboration with Blackstone will enhance Columbia’s already deep product line-up and should allow us to reach even more investors and distribution partners, both domestically and internationally, with a broad set of alternative investment capabilities,” Columbia said in a press release. “This is an important opportunity to further enhance our offering of alternative investments and solutions-based strategies.”
Columbia Management is a long-term mutual fund with assets of $358 billion under management. Blackstone Alternative Asset Management, Blackstone’s Hedge Fund Solutions platform, is the world’s largest discretionary investor in hedge funds, with $64 billion in assets under management.
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