Reuters: Private Equity: Blackstone raises bet on Asia hedge fund manager Taylor

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Blackstone raises bet on Asia hedge fund manager Taylor Jun 6th 2012, 07:01 June 6 | Wed Jun 6, 2012 3:01am EDT June 6 (Reuters) - Blackstone Group has increased its bet on former Citadel trader Nick Taylor by offering him another $50 million to co-invest with his hedge fund which is struggling to make money for its investors, sources with knowledge of the matter said. launched hedge fund Senrigan Capital in 2009 with about $150 million, including $100 million in seed capital from Blackstone's Strategic Alliance Fund. Senrigan later received another $50 million from Blackstone and grew to $1 billion last year. Co-investments are rare in hedge fund investing in Asia. The agreement allows the U.S. private equity group to invest alongside Senrigan in one or more of Taylor's ideas. The event-driven hedge fund run by British-born Taylor lost 8.6 percent last year, erasing its entire 5.85 percent gain in 2010. The fund fell a further 7.2 percent through mid-May this year, sources familiar with Senrigan's returns said. Blackstone and Hong Kong-based Taylor declined to comment.

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