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Bennett Goodman's Hunter Point Capital hires former Blackstone executive -sources

Stock MarketsOct 26, 2021 05:23PM ET
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By Chibuike Oguh

(Reuters) - Hunter Point Capital, the private equity firm launched by Bennett Goodman, who co-founded Blackstone (NYSE:BX) Inc credit arm GSO Capital Partners, has hired a former Blackstone executive, three people familiar with the matter said on Tuesday.

Melvin Hibberd, 37, will join Hunter Point Capital in January next year, the sources said. He was previously a managing director at Blackstone's Strategic Capital Holdings unit that acquires stakes in alternative asset managers.

Hibberd is among a string of Blackstone executives to leave the storied private equity firm's hedge fund unit - Blackstone Alternative Asset Management unit (BAAM).

A Hunter Point Capital spokesperson did not immediately respond to a request for comment.

John McCormick (NYSE:MKC), the co-head of BAAM, last week notified Blackstone of his plans to leave https://www.reuters.com/business/finance/blackstones-co-head-hedge-fund-unit-mccormick-leave-firm-sources-2021-10-25 the firm in the coming months, sources told Reuters.

McCormick's departure follows a similar move by Scott Soussa, a former BAAM co-head, who left the firm in March and will be joining investment firm Angelo Gordon.

Hibberd worked with Marc Pillemer and Rob Zassman who have also left Blackstone.

A Blackstone representative declined to comment.

Goodman, who was also a Blackstone board member before stepping down in 2019, formed Hunter Point Capital last year to buy stakes in other private equity firms. His firm is a direct competitor to Blackstone's Strategic Capital Holdings unit.

Bennett Goodman's Hunter Point Capital hires former Blackstone executive -sources
 

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