Blackstone is set to shut down a fund that provides investors with exposure to various hedge funds and trading strategies, as its assets have plummeted nearly 90% over the past four years, according to the Financial Times. The US-based asset manager, Blackstone, informed investors that the Blackstone Diversified Multi-Strategy fund will cease operations by the end of this year. Investor documents reveal that the fund experienced a 2% decline in returns from the beginning of 2020 until the end of September. Blackstone stated that they are currently engaged in discussions with clients to transition their capital to newer strategies that offer more flexibility. At the time of reporting, Blackstone had not responded to a request from Reuters for comment.
Blackstone Announces Closure of Multi-Strategy Fund Amidst 90% Asset Decline
