Private equity firm Blackstone Group has put $100 million into a new vehicle started by two former hedge fund executives, HedgeFund.net reports. Howard Shainker and Akiva Katz are the two founders of New York-based hedge fund Bow Street Partners.

Before venturing out on their own, Shainker managed investments in the financial services and retail/consumer sectors at Third Point, while Katz was an analyst at Brahman Capital.

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