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 https://www.reuters.com/business/finance/blackstones-co-head-hedge-fund-unit-mccormick-leave-firm-sources-2021-10-25 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)
