Hedge fund managers: Are you full of great, bold, interesting trade ideas? Haven’t gotten enough money from Blackstone (or anyone else) and/or have an annoyingly restrictive prospectus that won’t allow you to let it all ride on one of them? Need a little extra scratch?

Blackstone is here to help.

Blackstone is preparing to launch a “super” hedge fund to cherry-pick the best trades from the hundreds of third-party hedge funds it invests with in return for paying them a commission.

The new vehicle will invite managers with whom Blackstone already invests via its $48bn fund of funds platform to submit their boldest and most interesting trading ideas in return for a fee. It will be run by former Duquesne Capital partner, Greg Geiling….

“It’s a sort of Harlem Globetrotters’ fund of the best ideas from across the spectrum,” said one person familiar with the plans – comparing the project to the famous US exhibition basketball team.

Blackstone courts bold trades for new fund [FT]

4 comments (hidden to protect delicate sensibilities)
Show all comments ↓

Comments (4)

  1. Posted by QRFAR | May 17, 2013 at 6:09 PM

    Really all you need to have to be able to do a 720 dunk from free-throw line is for a globetrotter to tell you that it can be done. There's no way this ends badly.

    And one bitches.

  2. Posted by Guest | May 17, 2013 at 9:46 PM

    Psssst, psssst… Buy a Powerball ticket…

  3. Posted by Guest | May 17, 2013 at 9:51 PM

    Nice. I"m sure the SEC will want to hear all about this.

  4. Posted by Mail Room Analyst | May 20, 2013 at 1:34 PM

    buy low sell high