Blackstone / BAAM Horizon Crossover Fund
Does anyone know anything about this group that’s run by Scott Bommer? Seems like a crossover tech fund, but don’t really get the point of this when they already have a huge growth arm (BX Growth)?
For ex, it sounds like their strategy on the private side is to invest in the last stage before an IPO but doesn’t BX Growth also play in that (eg Bumble)?
Seems super secretive but curious on the team, type of work, structure, etc
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Hope that helps.
It looks like they're not actually a crossover tech fund, but rather an LP for crossover tech funds
Ah, what makes you think that’s the case? Understand BAAM is historically fund of funds
Not entirely sure but that's my reading of the press release: https://www.blackstone.com/news/press/blackstone-hires-scott-bommer-as-…
Blackstone Horizon is a new investment business that targets strong absolute returns by investing in and forming strategic partnerships with high-performing investment managers. The platform will employ a thematic approach to capitalize on powerful secular growth trends globally.
I think that quote says that they will invest in the funds and maybe GPs if I'm reading that correctly.
Anyone know how BAAM is more broadly? Typical background (I would think a more LP or FoF would be more common vs traditional IB)? Comp, progression, culture, etc., any color?
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