LONDON—Blackstone Group LP is said to be in negotiations to back a Hong Kong-based distressed fund started by a former global head of Goldman Sachs Group Inc. Special Situations Group.
Bloomberg News says the fund, Arkkan Capital Management Ltd., started by GS alum Jason Brown, will concentrate on Asian opportunities with the flexibility to invest globally. Bloomberg said the information came from multiple sources who asked not to be identified.
It would be the second time Blackstone backs an Asia-based hedge fund since the 2008 global financial crisis.
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