Senfina PM Cueto Said to be Planning New Hedge Fund

Nov 23 2016 | 5:54pm ET

Blackstone sub-advisor Francis Cueto is reportedly prepping a new hedge fund that will start in the first half of next year. 

Cueto is a portfolio manager with Blackstone's Senfina Advisors unit through his Asturias Capital, which is a sub-advisor to Senfina. He plans on spinning out Asturias and launching the new fund by April 2017, according to a Business Insider article citing unidentified people familiar with the matter.

Cueto currently manages a TMT-focused portfolio for Senfina, the article said, after joining in January 2015 following an eight-year stint at Bain Capital’s $10 billion Brookside Capital hedge fund arm. 

Senfina Advisors is Blackstone’s $4.5 billion multi-manager and multi-strategy hedge fund platform. Launched in 2014, the unit sits within Blackstone’s Alternative Asset Management division and provides investors with exclusive access to a range of underlying portfolio managers who are employed by their respective firms. 

Blackstone itself is the world’s largest discretionary hedge fund manager. Founded in 1985 by Steven Schwartzman and Peter Petersen, the firm manages more than $361 billion in global private equity, real estate, hedge fund solutions and credit strategies.

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