Blackstone’s Strategic Capital Group invested an undisclosed amount for a minority stake. : Blackstone’s hedge fund business has bought a minority stake in middle-market alternative asset manager GI Partners for an undisclosed sum. GI Partners said the undisclosed stake was acquired by Blackstone’s Strategic Capital Group, a vehicle managed by Blackstone Alternative Asset Management (BAAM) that specialises in acquiring long-term interests in alternative managers. The investment provides GI Partners with balance sheet capital to reinvest in the business and engage in strategic initiatives.