‘A true diversifier, unlimited demand’ – Blackstone’s verdict on top pod-shops



Joe Dowling, head of multi-asset investing at Blackstone, one of the largest hedge fund allocators, has given a ringing endorsement of the pod-shop model — but sounded a warning on smaller firms looking to break into the top tier.

In new comments on a Bloomberg podcast, the former head of Brown University’s endowment heralded the consistent returns of Millennium, Citadel and other top pod-shops, saying it was “very hard to recreate.” AFI has broken down the key takeaways on performance, due diligence, crowding risk and the future of the sector, which is growing at a 16% annualised rate.

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