More information about Ralph Schlosstein's post-BlackRock plans are leaking into the media. The WSJ reports
that the BlackRock cofounder is planning to open an alternative investments firm after raising $1 billion in seed capital. The paper cites a "person familiar with Mr. Schlosstein's thinking" as its source. The fund will invest in small and mid-size companies and take stakes in firms focused on investments in real estate, private equity, venture capital, distressed debt and hedge funds. Robert Kapito, head of BlackRock's portfolio management, will take Schlosstein's title as president.
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