June 6 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
Taylor, one of Asia's closely followed portfolio managers,
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
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.