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Laxman Pai, Opalesque Asia: Blackstone, the world's biggest alternative asset manager, said that the total assets under management (AuM) of its Hedge Fund Solutions was up 4% to $77.8bn with inflows of $2.6bn in the fourth quarter and record inflows of $13.3bn for the year.
The increase is primarily driven by continued platform diversification and growth in customized strategies and individual investor solutions, the U.S. firm said in its presentation of Q4 results.
January 1 subscriptions of $1.1bn are not yet included in Total AUM, it added.
"BPS Composite gross return was down -2.3% in the quarter, outperforming relevant indices with MSCI All Country World Total Return Index down 12.7% and HFRX Global HF Return Index down 5.6%, demonstrating the ability to provide downside protection in difficult global markets," it said.
Gross returns were up 2.0% for the year, outperforming global markets with less than a fifth of the volatility, with MSCI All Country World Total Return Index down 8.9% and HFRX Global HF Return Index down 6.7%.
Meanwhile, Blackstone Group saw its Q4 earnings slumped 42 % from a year earlier to $722m, hurt by lower performance fees.
AuM rose to $472.2bn from $456.7bn in the third quarter, it said.
Blackstone said its dry powder - undeployed capital- hit $112.9bn, and firm President and Chief Operating Officer Jonathan Gray said the recent market volatility has created a buying opportunity.
The firm also reported that it held...................... To view our full article Click here
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