US-based Columbia Management has entered into a strategic initiative with Blackstone Alternative Asset Management to research and develop new investment solutions.
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Under the initiative, the investment solutions will be developed by leveraging Columbia’s asset management capabilities and Blackstone’s hedge fund solutions business.
Columbia’s expertise in asset allocation, equity and fixed-income investment management provides investors to meet their specific needs.
In addition, Blackstone’s alternative investment proficiency will further improve Columbia’s capability set.
Bill Landes, deputy head of global multi-asset investment solutions at Columbia Management, said: "Collaboration with Blackstone will enhance Columbia’s already deep product line-up and should allow us to reach even more investors and distribution partners, both domestically and internationally, with a broad set of alternative investment capabilities."
Columbia Management had managed $358bn in assets under management as of 30 September 2014, while Blackstone Alternative Asset Management currently manages $64bn in assets under management.
