Blackstone Alternative Expands Senior Investment Team
New York; February 14, 2005: The Blackstone Group today announced that Blackstone Alternative Asset Management (BAAM) has expanded its senior investment team with the addition of Vineet Kapur as Managing Director. Mr. Kapur, who has been with Morgan Stanley since 1995, has held a variety of senior positions in prime brokerage, alternative investment management, and investment management. BAAM invests approximately $9 billion in select hedge fund managers through several multi-manager programs on behalf of institutional investors.
Mr. Kapur is the second recent senior addition to BAAM’s investment team. In June of 2004, BAAM added Bruce Amlicke, the former Chief Investment Officer at UBS Alternative Investment Solutions Group, as CIO. Mr. Kapur will work closely with Mr. Amlicke; Hal Lindquist, BAAM’s Chief Investment Strategist; and J. Tomilson Hill, President and CEO of BAAM and Vice Chairman of The Blackstone Group. He will also join BAAM’s investment committee.
“The addition of Vineet is part of the continuing expansion of our infrastructure and talent base to solidify our leadership position in the institutional marketplace,” said Mr. Hill. “As institutional investors make larger allocations to hedge funds, their investment needs are becoming increasingly sophisticated. For example, we are working more closely with our investors to construct portfolios that offer targeted exposure to specific segments of the alternatives market, and Vineet will help with that effort.”
Mr. Kapur was most recently Executive Director in Morgan Stanley’s Prime Brokerage Group, where his primary role was advising the firm’s larger hedge fund clients, in addition to serving on the commitment committee. Prior to joining the prime brokerage team, he helped launch and run the Emerging Managers Fund at Morgan Stanley Alternative Investment Partners. Mr. Kapur also held positions at Morgan Stanley Investment Management, where as an Associate in the Strategic Planning and Product Development Group, he helped establish Morgan Stanley’s alternative investments business. He holds a B.A. from Kurukshetra University in Bombay, India, and an M.B.A. from the University of Rochester.
Note to editors:
The Blackstone Group, a private investment and advisory firm with offices in New York, London, Hamburg and Paris was founded in 1985. BAAM, the firm’s marketable alternatives multi-manager investment management business, was formed in 1990 and has approximately $9 billion in discretionary marketable alternative assets. BAAM has grown to over 60 experienced professionals with deep experience in capital markets, portfolio management, risk management, auditing and client service. The Blackstone Group’s other five core businesses are Corporate Advisory Services, Restructuring and Reorganization Advisory, Private Equity Investing, Private Real Estate Investing, and Corporate Debt Investing. The Blackstone Group has raised over $32 billion across its alternative asset management businesses.