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BOSTON, Jan 11 (Reuters) - Blackstone Group, the world’s biggest hedge fund investor, is bringing in a former endowment chief at Brown University as the co-head of its Blackstone Alternative Asset Management (BAAM) unit.
The company has hired Joe Dowling to join John McCormick who has run the $78 billion hedge fund unit since early 2018, the company confirmed on Monday.
The Wall Street Journal first reported the news.
Blackstone’s hedge fund unit backs new hedge funds, invests alongside hedge funds, buys majority stakes in them and offers internally run hedge funds. All businesses have expanded since McCormick was promoted to head the unit.