A hedge fund at the world's biggest alternative asset manager is setting off on its own
Francis Cueto, a money manager with Blackstone's Senfina Advisors, is starting an independent hedge fund next year, according to people familiar with the matter. He is aiming for an April 1 launch, according to one of the people.
Cueto, who manages a portfolio focused on tech, media and telecomms stocks, is spinning out his unit Asturias Capital. He has not yet left Senfina.
Cueto joined the Senfina platform in January 2015 after eight years at a $10 billion hedge fund within Bain Capital, according to a LinkedIn profile.
Blackstone's Senfina launched in 2014 with a multi-strategy model, with different portfolio managers making big, concentrated bets in each of their own books.
Spinning out has always been an option for the managers on the platform, and Cueto, the first manager to go it alone, will continue to manage money for Blackstone, people familiar with the matter said. Senfina was down about 20% for the year in early August following a banner 21% gain last year, according to a Bloomberg report.
Cueto could not be reached for comment and a Blackstone spokeswoman declined to comment.
Blackstone is the world's largest manager of alternative assets with $361 billion under management.
- 5 things to avoid doing if your phone gets wet
- Intense rains quench Uttarakhand’s wildfire frenzy; Supreme Court tells state govt. to stop relying on rain god
- IPL decoded: Can RCB still qualify? Probabilities of IPL teams qualifying for the playoffs
- IPL decoded: Hasty 100s - The fastest centuries in IPL 2024 so far
- 5 pasta types for home cooking enthusiasts
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market