Blackstone Altius Advisors, a new hedge fund investment subsidiary of The Blackstone Group, has opened with headquarters in Hong Kong and additional investment professionals based in Tokyo, Mumbai and New York. Blackstone Altius will invest in Asia-Pacific opportunities using an event-driven approach. Aaron Nieman, senior managing director, is handling the launch and building up the staff, according to a news release from Blackstone. Mr. Nieman was a managing director in the Canvas Capital Management division of hedge fund manager S.A.C. Capital Management, where he headed a team that invested in merger arbitrage and event-driven strategies in Asia Pacific. Jonathan Gasthalter, a spokesman for S.A.C., said Mr. Niemans duties have been assumed by others at Canvas Capital.