(Bloomberg) -- Blackstone Group, the largest manager of alternative assets, is closing its two-year-old Senfina Advisors after it lost 24% in 2016.

The $1.8 billion Senfina, which allocated money among a group of 11 portfolio managers, lost 6% last month alone, Bloomberg reported in December. It was a short-lived experiment for Blackstone, which started Senfina in 2014 as its first in-house, multi-manager fund.

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