Deals
Blackstone Dumps Natixis’s H2O as Adviser to $6 Billion Fund
- Move is latest blow for London macro firm owned by Natixis
- Blackstone’s liquid alternatives fund has lost 11% this year
Signage is displayed outside the Blackstone Group Inc. headquarters in New York, U.S.
Photographer: Mark Abramson/BloombergThis article is for subscribers only.
Blackstone Group Inc. is dropping H2O Asset Management from its roster of outside firms that help manage one of its main liquid alternative funds, the latest blow for the London-based macro firm run by Bruno Crastes and Vincent Chailley.
H2O will cease being sub-adviser to the Blackstone Alternative Multi-Strategy Fund as of May 31, according to a regulatory filing Wednesday. The $6.1 billion mutual fund had not allocated any capital to H2O for the past two years, a person familiar with the situation said, adding that the decision wasn’t performance related.