Blackstone launches Mutual Fund

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July 17 (Bloomberg) -- Bloomberg Link's Jason Kelly discusses Blackstone's leap into the $3.57 trillion dollar 401(K) market with Deirdre Bolton on Bloomberg Television's "Money Moves." (Source: Bloomberg)

Jason kelly, our p.e. guru.

Blackstone is not even first to this party on trying to get individual money versus institutional money.

Carlyle did it.

What is going on?

As one manager said, the 800 pound gorilla is in the room.

Blackstone has thought about this for several years.

They are the biggest of this new breed of alternative asset managers.

They are not just private equity anymore.

They are going after the individual investor in a meaningful way.

They have $200 billion in assets.

You can always have more.

Steve schwarzman has said that this will keep growing and growing and growing.

Remember, 401k's have about 3.5 trillion in them.

The individual investors looking for a higher return.

That might be too big of a chunk of change were these firms to want to leave on the sidelines.

What they see is a hunger for this type of new product.

People are saying i'm not sure where my 401(k) and it up.

Hedge funds and private equity has historically outperformed.

This liquid alternative question is a big one.

The idea here is basically as an individual investor, a small investor, we are going to get access to a hedge fund, but in a more liquid way because it is through a mutual fund and also i presume for lower fees.

Yes, for lower fees than you would get an better access than you could get as an individual investor.

This is a mutual fund type vehicle.

You can click on your 401(k) and say, i want to do this.

Blackstone is out there picking managers.

You have cerberus in the lineup.

Chatham, that you know , giving access to individual investors.

Always glad to see you.

Thank you so much.

This text has been automatically generated. It may not be 100% accurate.


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