WSJ: Blackstone Is Starting Its Own Hedge Fund To Make Large, Risky Bets

Blackstone Group BX +0.84% LP is quietly laying plans to start a hedge fund that will make big, risky bets, an effort it hopes will eventually rival some of the largest firms in the business, according to people familiar with the plans. The private-equity firm will fund several teams of traders with hundreds of millions of dollars to place a relatively small number of large, highly concentrated wagers, the people said. The strategy is notable now as many hedge funds are shying away from makin...