Blackstone's alternatives unit BXMA reports 2.3% gain in Q1
NEW YORK (Reuters) -Blackstone Group's multi-asset investing BXMA unit, the world's largest investor in hedge funds, posted a 2.3% return after fees in the first quarter, handily outpacing the HFRX Global Hedge Fund Index 0.53% return. The numbers, released on Thursday when Blackstone reported first-quarter earnings, are noteworthy because they came during a period of great market volatility as investors fretted about the prospect of U.S. tariffs, rising unemployment, and the chance of a recession. For the full year 2024 BXMA, which oversees $88 billion in assets for pension funds, sovereign wealth funds and other big institutions, returned 12% after fees, more than double the average hedge fund's 5.3% return.