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Blackstone Said to Vie With Goldman in Buying Hedge Fund Stakes

Blackstone Group LP hired Anthony Maniscalco to help run a new business that will buy stakes in hedge-fund managers, said three people familiar with the plans, as the firm tackles an investing area where institutions such as Goldman Sachs Group Inc. have had mixed results.

Maniscalco, 42, previously head of alternative-asset management in the investment-banking group at Barclays Plc in New York, will be part of the team that evaluates and strikes deals with fund managers, said the people, asking not to be named because the information is private. Peter Rose, a spokesman for New York-based Blackstone, which has $46.1 billion in its hedge-fund group, declined to comment on the hires.