Blackstone Alternative Asset Management, a division of New York-listed
Blackstone, has appointed Anthony Maniscalco as a managing director within its investment team.

Maniscalco is the former head of alternative asset management within Barclays’ financial institutions investment banking division. In his new role at Blackstone, he will work with Greg Hall, a senior managing director, and other team members in building out the firm’s platform to purchase ownership interests in hedge fund businesses.

Hall said that now is an ideal time for BAAM to focus on investing in alternative investment firms. “Hedge funds continue to gain market share within the asset management industry, founder-owners are focusing on equity values and succession planning, and there is little opportunistic capital to underwrite and purchase these ownership interests,” he said.

Blackstone Alternative Asset Management is Blackstone’s hedge fund solutions business which currently manages some $45 billion of discretionary assets in a number of different business units.