Bennett Goodman’s Hunter Point Capital hires former Blackstone executive -sources

By Chibuike Oguh

– Hunter Point Capital, the private equity firm launched by Bennett Goodman, who co-founded Blackstone Inc credit arm GSO Capital Partners, has hired a former Blackstone executive, three people familiar with the matter said on Tuesday.

Melvin Hibberd, 37, will join Hunter Point Capital in January next year, the sources said. He was previously a managing director at Blackstone’s Strategic Capital Holdings unit that acquires stakes in alternative asset managers.

Hibberd is among a string of Blackstone executives to leave the storied private equity firm’s hedge fund unit – Blackstone Alternative Asset Management unit (BAAM).

A Hunter Point Capital spokesperson did not immediately respond to a request for comment.

John McCormick, the co-head of BAAM, last week notified Blackstone of his plans to leave the firm in the coming months, sources told Reuters.

McCormick’s departure follows a similar move by Scott Soussa, a former BAAM co-head, who left the firm in March and will be joining investment firm Angelo Gordon.

Hibberd worked with Marc Pillemer and Rob Zassman who have also left Blackstone.

A Blackstone representative declined to comment.

Goodman, who was also a Blackstone board member before stepping down in 2019, formed Hunter Point Capital last year to buy stakes in other private equity firms. His firm is a direct competitor to Blackstone’s Strategic Capital Holdings unit.

(Reporting by Chibuike Oguh in New York; Editing by Matthew Lewis)

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