BOSTON – Blackstone Group, the world’s greatest hedge fund trader, is committing $150 million in start off-up money to a hedge fund operate by a former senior govt at Lone Star Cash, two resources common with the subject reported.
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Anand Balakrishna Madduri is launching ApaH Capital Management with around $200 million in assets, like the money from Blackstone, one of the persons stated.
Hong Kong-primarily based ApaH will concentrate on public and personal sector investments across Asia, such as in Australia, China, India and Japan.
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Madduri did not respond to requests for comment.
Blackstone declined to comment.
Madduri was a senior managing director at Lone Star Resources for 5 years and invested 7 several years at Och-Ziff Funds Administration, exactly where he rose to controlling director.
Blackstone, which invests $79 billion in hedge funds, is producing the financial commitment with hard cash from its $1.5 billion Strategic Alliance Fund III which backs new entrants into the hedge fund sector.
Blackstone has seeded Palm Lane Funds, Tresidor Investment decision Management and Jones Highway Cash Administration among many others from Fund III.
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Blackstone’s seeders consider a 15% to 25% slice of the hedge fund’s company, people familiar with the phrases said.
Securing seed investments from Blackstone often can help new professionals set up qualifications and get up and managing, while it allows Blackstone to get in on the floor flooring with promising newcomers.