Blackstone Alternative Asset Management hired Clear Sky Advisers 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.
Clear Sky Advisers manages macro strategies, according to a Dec. 2 SEC filing announcing the addition of the subadviser.
The same filing disclosed the removal of Cerberus Capital Management and Luminus Management as subadvisers for the Blackstone Alternative Multi-Strategy Fund. Cerberus ran a relative value strategy, and Luminus ran a macro strategy.
The reason for the removal of the two managers was not provided.
The Blackstone Alternative Multi-Strategy Fund now has 19 subadvisers.
Blackstone spokeswoman Paula Chirhart could not be immediately reached for further information.