Blackstone Closes Senfina Hedge Fund After Losing 24% in 2016
- Parag Pande said to be leaving along with other fund managers
- Fund wasn’t able to bounce back from a 17% loss in February
Blackstone Shuts Down Senfina Hedge Fund
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Blackstone Group LP, the largest manager of alternative assets, is closing its two-year-old Senfina Advisors after it lost 24 percent in 2016.
The $1.8 billion Senfina, which allocated money among a group of 11 portfolio managers, lost 6 percent last month alone, Bloomberg reported in December. It was a short-lived experiment for Blackstone, which started Senfina in 2014 as its first in-house, multi-manager fund.