U.S based and world’s largest hedge fund investor Blackstone Group will be investing $150 million in newly established hedge fund ApaH Capital. ApaH capital is managed by a former senior executive at Lone Star Funds.
Sources involved in the matter disclosed that ApaH Capital will use the funds as start-up capital. The company will be based in Hong Kong and it will concentrate on public and private investments across Asia more so in China, Japan and India.
“Anand Balakrishna Madduri is launching ApaH Capital Management with roughly $200 million in assets, including the capital from Blackstone,” said one of the sources.
Madduri was a senior managing director at Lone Star Funds where he served for five years. He also served another seven years at Och-Ziff Capital Management where he rose through the ranks to become managing director.
Blackstone will be drawing this investment from its $1.5 billion Strategic Alliance Fund III. This fund backs two entrants into the hedge fund industry. Generally, Blackstone collectively invests $79 billion in hedge funds.