Scott Bommer was appointed chief investment officer of Blackstone Horizon, a unit of Blackstone Alternative Asset Management that was launched Monday, a news release said.
Mr. Bommer and the Horizon team will target "strong absolute returns by investing in and forming strategic partnerships with high-performing investment managers. The platform will employ a thematic approach to capitalize on powerful secular-growth trends globally," the release said.
Paula Chirhart, a spokeswoman for Blackstone, BAAM's parent company, said she could not comment on the news, and BAAM executives were not immediately available for interviews.
Mr. Bommer also will work with BAAM's senior executives on asset allocation, risk management, seed investing, acquisition of ownership stakes in hedge fund managers and initiatives, the release said.
Mr. Bommer was founder and CEO of hedge fund manager SAB Capital Management until 2015 when he closed the firm to manage his family office.
"We're delighted to welcome Scott to BAAM to lead cutting-edge investment initiatives across the business with a focus on the Horizon platform," said John McCormick, co-head of BAAM, in the release.
Blackstone managed $619 billion in alternative strategies as of Dec. 31.