Park Hill adds new hedge fund unit.

Park Hill Group, the global alternative asset placement agency, has announced the establishment of a new hedge fund unit to complement its existing private equity business.

This new hedge fund unit will be headed by Alexander Moomjy and Patrick Daly in New York and Peter Mayer in London, all formerly of Credit Suisse's Private Fund Group. They are joined by senior distribution executive, Annie Belanger, formerly of Conquest Capital, in New York. Also joining are Paul Hudson, Bradley Barr and Michael Prasad.

Park Hill will also be expanding its private equity business.

Dan Prendergast, managing partner of Park Hill Group, said; "With Park Hill successfully raising funds in the private equity space, establishing a team to focus on the robust hedge fund industry is a natural evolution."

Stephen A. Schwarzman, chairman., CEO and co-founder of The Blackstone Group, a minority investor in Park Hill, said; "We are delighted with the enormous success of Park Hill thus far. This seasoned team of professionals has certainly made its mark on the alternative asset fundraising arena. The addition of its hedge fund unit will allow Park Hill to continue representing top-tier alternative investment funds while serving the investor community's alternative investment needs."

Park Hill has recently completed assignments for Blackstone Capital Partners V, Blackstone Mezzanine Partners II and Centerbridge Capital Partners.

THOMAS TORELLI, OWNER, ALLIED PROPERTY GROUP