Columbia Management Announces Strategic Initiative with Blackstone

November 24, 2014

On November 18, 2014, Columbia Management announced that it had signed a Letter of Intent with Blackstone Alternative Asset Management to research and develop investment solutions.

On November 18, 2014, Columbia Management announced that it signed a Letter of Intent with Blackstone Alternative Asset Management (“BAAM”) to research and develop investment solutions intended to leverage Columbia Management’s asset management capabilities and BAAM’s hedge fund solutions business.

BAAM is the world’s largest discretionary allocator to hedge funds with $64 billion in assets under management.  Columbia Management, a subsidiary of Ameriprise Financial, Inc., is a leading manager of long-term mutual fund assets with $385 billion under management as of September 30, 2014.

To view the press release, please click here.


Categories

Hedge Fund Strategic Investments, Investment Manager Strategic Investments, Transactions