Blackstone’s Blitzer Said to Oversee $1.5 Billion Tactical Fund
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Blackstone Group LP has raised about $1.5 billion from clients for a fund that will be managed by David Blitzer, a senior managing director who started the New York-based firm’s European private-equity business in 2002.
The fund focuses on assets that are too illiquid for most hedge funds to buy and more easily traded than the companies and loans purchased by private-equity firms, said two people familiar with the matter. Blackstone began raising money for the Tactical Opportunities fund last year to take advantage of investments sourced from its private-equity, hedge fund and real estate businesses, said the people, who asked not to be identified because the information is private.