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Blackstone MD leaves to start new firm

Melvin Ike, a managing director in Blackstone Inc’s tactical opportunities group, whose past transactions include the $1bn sale of a majority stake in Aqua Finance to Apollo Global Management in 2021, is leaving the company to start his own investment firm, according to a report by Reuters.

A statement released by Blackstone on Tuesday confirmed that Ike’s resignation was announced at a recent meeting of Blackstone’s tactical opportunities fund investors in New York.

Ike joined Blackstone in 2019 having spent the previous four years at activist hedge fund manager Third Point. Prior to that he was at private equity firm TPG Inc for two years, and also spent a two-year spell with investment bank Lazard Ltd.

Blackstone’s tactical opportunities unit, which has about $34 billion in assets under management, invests in a range of assets that fall outside the scope of the firm’s other funds, including timber and mines, oil tankers, and satellites. 

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