Blackstone Group Grows the Hedge –

While many businesses are finding they have no choice but to trim their staff, New York-based The Blackstone Group is building up. Between March and September of this year, the firm added three new members to the manager identification team of Blackstone Alternative Asset Management, which manages $2.3 billion to be invested in hedge fund managers. The manager identification team assesses hedge managers that Blackstone would potentially sponsor.

Most recently, J. Hal McMath, formerly of Wilshire Associates Inc., joined the manager identification team as vice president. McMath will assist Egidio “Ed” Robertiello, who joined the team in July as a managing director. Stephen Sullens, a former director of Citigate‘s hedge fund investment center, joined Blackstone’s alternative asset team in March as a vice president.

Presumably, Blackstone Alternative Asset Management has a lot on its plate since in May it was chosen as the strategic adviser for the California Public Employees’ Retirement System’s $1 billion hedge fund program.

Taking to the Web

With 16 years under its belt as of the first of this month, The Blackstone Group is making its mark on the Internet. With its anniversary celebration, went live. John Ford, a spokesperson for Blackstone, said in addition to providing background information for people interested in learning about the firm, the site will also help attract the next generation of Blackstone general partners. “We have a career section which is clearly designed to attract students who are looking to get into the business potential analysts and associates,” he said.