Gideon Berger and Min Htoo are offering up a new special situations strategy via a new hedge fund firm called LuminArx Capital Management, according to regulatory filings and public reports.
Both former Blackstone executives were within the hedge fund solutions unit BAAM. The pair formed the firm in January and according to a report from Bloomberg the duo is anticipated to begin trading with more than $1 billion in the coming months.
Htoo is the chief investment officer of the New York-based firm. Prior to joining Blackstone in 2017, Htoo led Anandar Capital Management as Founder and CIO. Before the launch of his own firm, he was a day-one partner at Magnetar Capital where, as a senior portfolio manager investing in both fundamental and quantitative strategies.
Berger began his career at Blackstone in 2002, ultimately rising up the ranks to co-CIO of BAAM alongside Htoo.
Recently, Blackstone announced that it had surpassed the $1 trillion AUM mark across its alternative asset management units. The hedge fund group remains at $78 billion, which is the largest multi-manager hedge fund portfolio in the world.
