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Blackstone Exclusive: Sudden Closure of Multi-Strategy Fund Explained

Blackstone, a US-based asset manager, announced that it will be closing down its Blackstone Diversified Multi-Strategy fund by the end of the year.

Blackstone's senior executives, Jonathan Gray, Kathleen McCarthy, and Kenneth Caplan. The closure of Blackstone's Blackstone Diversified Multi-Strategy fund highlights challenges in the asset management industry. PHOTO: Fortune
Senior executives, Jonathan Gray, Kathleen McCarthy, and Kenneth Caplan. The closure of Blackstone’s Blackstone Diversified Multi-Strategy fund highlights challenges in the asset management industry. PHOTO: Fortune

This comes after a significant fall in assets, nearly 90%, in the past four years. The Ucits fund, which represents 0.5% of Blackstone’s hedge fund operation, has reported a 2% decline in returns

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