Blackstone Group LP is in talks to back a Hong Kong-based distressed fund started by Jason Brown, a former global head of Goldman Sachs Group Inc.'s Special Situations Group, says Bloomberg. Brown's Arkkan Capital Management Ltd. will focus on Asian opportunities with the flexibility to invest globally. It would be the second time Blackstone backs an Asia-based hedge fund since the 2008; it backed Hong Kong-based Senrigan Capital Group Ltd. in 2009.

Public conglomerate Leucadia National Corp., which bought $43 billion New York-based investment bank Jefferies in November 2012, announced plans to invest $400 million in Folger Hill Asset Management and that CEO Richard Handler and President Brian Friedman would join the new hedge fund's board of managers, CNBC reported. Set for launch in early 2015, Folger Hill is led by Sol Kumin, who was chief operating officer of Steve Cohen's SAC from 2008 to January 2014. Alpha Strategic buys stake in Premium Point Investments Colin Barrow

Alpha Strategic plc, a affiliate of Northill Capital, has recently made a minority revenue share investment in Premium Point Investments LP, a US-based alternative asset management firm focused on residential mortgage markets.

London-based Alpha Strategic specialises in providing passive minority capital solutions to high quality asset management firms in either revenue share or structured equity form, enabling firms to maintain their operational autonomy and independent culture. It was founded in 2005 by Colin Barrow, form......................

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This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.