Blackstone is starting up an Asian Event Driven fund business

With private equity deals few and far between, Blackstone is delving deeper into the event driven fund business. And they're looking to further expand their interests in Asia with their most recently announced move.  Schwarzman & Co is starting up a unit that will invest in Asian event drivn opportunities indluding those related to mergers and bankruptcies.  SAC Capital alum Aaron Nieman will run it:

Blackstone Altius Advisors will be led by Senior Managing Director and Chief Investment Officer Aaron Nieman, New York- based Blackstone said in a statement issued through BusinessWire today. The fund will be based in Hong Kong with employees in Tokyo, Mumbai and New York.

``As Blackstone continues to aggressively seek opportunities within Asia, Aaron and his team will provide additional investment capability that will bolster our presence in the region,'' Antony Leung, Blackstone's Greater China chairman, said in the statement.

Nieman joined Blackstone from SAC Capital Management, where he was a managing director in the Canvas Capital Management unit overseeing merger arbitrage and event-driven investments in Asia- Pacific, the Blackstone statement said.

Blackstone to Start Asian Event-Driven Fund Business - Blackstone