BlackRock Pushes Hedge Fund Strategies to Sovereign Wealth Funds
Asset heavy, seeking higher yields – sovereign wealth fund medley – is embracing hedge fund strategies left and right. Behemoth asset managers like BlackRock are offering hedge fund strategies to generate higher fees and compete with traditional hedge funds like Och-Ziff Management, Brevan Howard Asset Management, BlueCrest Capital Management and Dalio’s Bridgewater Associates. Sovereign funds like the Abu Dhabi Investment Authority (ADIA), Alaska Permanent Fund, Australia’s Future Fund and Kuwait Investment Authority (KIA) have been adopters of hedge funds. Wealth funds and other public institutional investors are engaging the cozy hedge fund community. In February, David George of Australia’s Future Fund, head of debt and alternatives, joined the board of directors at the Hedge Fund Standards Board (HFSB). Australia’s Future Fund has allocation toward in a macro-directional strategy through BlackRock Alternative Advisors (BAA), a unit of BlackRock that providers tailored hedge fund solutions to institutional investors.
To boost sales, BlackRock hired an investment executive from the asset owner side.
The Massive Market of Gulf-Based Sovereign Wealth Funds
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