Blackstone Alternative Asset Management hired Aperture Investors as a subadviser to its Blackstone Alternative Multi-Strategy Fund.
The $5.3 billion multistrategy fund allocates assets to managers that specialize in global macro, quantitative and opportunistic trading strategies, among others.
Aperture Investors will manage equity hedge strategies for the multistrategy fund, according to an SEC filing Monday announcing the addition of the subadviser.
Aperture was founded in 2018 by former AllianceBernstein CEO Peter Kraus and insurance and money management group Assicurazioni Generali. The money manager runs on a revenue model for which it charges exchange-traded fund-like fees that only increase when portfolio managers exceed their benchmarks.
As of Oct. 31, Aperture had about $4.4 billion in assets under management.
The addition of the firm gives the Blackstone Alternative Multi-Strategy Fund a total of 20 subadvisers.
Also, the SEC filing disclosed the addition of David Ben-Ur as a portfolio manager for the multistrategy fund. He was named CIO of hedge funds solutions at BAAM in December, replacing Gideon Berger, a senior managing director and co-CIO of hedge fund solutions, who left Blackstone in May.