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Blackstone to shutter hedge fund Senfina Advisors

Blackstone Group LP will shut down hedge fund Senfina Advisors LLC following double-digit losses on investments in 2016, Reuters reported, citing a spokeswoman.

Senfina Advisors' head, Parag Pande, and several of the fund's portfolio managers will leave the company, the news outlet said, citing "a source familiar with the decision."

Most of the $1.8 billion that the fund manages for large clients will likely be maintained at Blackstone as requests for redemption have been minimal, Reuters said.