Alternatives juggernaut Blackstone joined the likes of other fellow private investment firms The Carlyle Group and Kohlberg Kravis Roberts (KKR) last month as the asset management practice continues its revolutionary switch in business focus out of institutional coffers and into the retail investment space.

Blackstone Alternative Asset Management (BAAM), the New York-based investment and advisory firm's hedge fund solutions business, noted July 16 that the Blackstone Alternative Multi-Manager Fund (BXMMX), a registered open-end mutual fund, serves as an attempt to satisfy current and potential customers.

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