Blackstone Alternative Asset Management hired Maren Capital as a subadviser to its Blackstone Alternative Multi-Strategy Fund.
The $4.2 billion multistrategy fund allocates assets to managers that specialize in global macro, quantitative and opportunistic trading strategies, among others.
Maren Capital will manage equity hedge strategies for the multistrategy fund, according to an SEC filing Tuesday announcing the addition of the subadviser.
Based in Chicago, Maren Capital is a fundamental value shop founded in 2022 by Bradley Schatz, formerly president and portfolio manager at Port Capital from 2015 to 2021 and senior analyst and portfolio manager at Snyder Capital Management, according to his SEC investment adviser public disclosure form.
As of Feb. 1, Maren Capital had $162 million in assets under management, according to its SEC ADV filing.