Blackstone Starting Second Tactical Fund This Year, Says Blitzer

Blackstone Group LP, the world’s biggest manager of alternative assets, plans to start its second Tactical Opportunities fund this year, according to David Blitzer, the head of the unit.

The firm raised $5.6 billion for the debut fund and has committed more than $3 billion in 30 deals across assets classes, according to a presentation today at the firm’s fourth investor day in New York. Tony James, Blackstone’s president, said assets at the division, which can invest across the firm’s business lines, could double within 12 months.

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