Joe Tsai-backed Blue Pool raises $300m for second hedge fund investment vehicle
Blue Pool Capital, the investment firm backed by Alibaba chairman Joe Tsai, has raised $300m in the first close of a new vehicle targeting hedge fund strategies, as demand for alternative investments continues to attract wealthy investors and institutions.
Alibaba chairman Joe Tsai's investment firm, Blue Pool Capital, has successfully raised $300 million for its second hedge fund investment vehicle, known as Harborside II, according to unnamed sources familiar with the fundraising. The new vehicle is set to target $500 million by the end of the year. This marks the second fund in Blue Pool's Harborside series, following the first fund raised in 2024 for $500 million, which focused on hedge funds and private credit managers.
Both funds are expected to attract investors including ultra-high-net-worth individuals and institutions. Blue Pool is also operating a private equity strategy called Riverside, which raised $1 billion earlier this year. The firm's broader strategy manages capital for Tsai across various asset classes, including hedge funds, private equity, venture capital, private credit, and listed equities.
The recent expansion in hedge fund investments aligns with the growing interest among institutional and wealthy investors in alternative assets to diversify their portfolios and adapt to changing market conditions.
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