Columbia Management Announces Strategic Initiative With Blackstone Alternative Asset Management

Columbia Management today announced that it has signed a Letter of Intent with Blackstone Alternative Asset Management (“BAAM”) to research and develop investment solutions that leverage Columbia’s asset management capabilities and Blackstone’s hedge fund solutions business.

Columbia has considerable experience in asset allocation and alternative investing, with Jeff Knight, Global Head of Investment Solutions and Asset Allocation, and William Landes, Ph.D., Deputy Head of Global Investment Solutions, leading the company’s efforts to develop and manage compelling products and solutions for its clients.

Columbia’s expertise in asset allocation, equity and fixed-income investment management, and sub-advisory selection capabilities offers investors a powerful opportunity to help meet their specific needs. The addition of Blackstone’s alternative investment proficiency as captured through existing registered fund solutions will further enhance Columbia’s capability set.

BAAM is the world’s largest discretionary allocator to hedge funds and it strives to provide best-in-class solutions across alternative asset classes and strategies.

“Collaboration with Blackstone will enhance Columbia’s already deep product line-up and should allow us to reach even more investors and distribution partners, both domestically and internationally, with a broad set of alternative investment capabilities,” said Bill Landes. “This is an important opportunity to further enhance our offering of alternative investments and solutions-based strategies.”

About Columbia Management:

Columbia Management is a leading manager of long-term mutual fund assets with $358 billion under management* as of September 30, 2014. Columbia Management is a subsidiary of Ameriprise Financial, Inc. (NYSE:AMP). For more information, please visit columbiamanagement.com.

About BAAM:

Blackstone Alternative Asset Management (BAAM®), Blackstone’s Hedge Fund Solutions platform, is the world’s largest discretionary investor in hedge funds, with $64 billion in assets under management. BAAM manages a diversified set of businesses including a customized solutions business, a special situations platform, a long-only solutions business, a hedge fund seeding business, an open-ended mutual fund platform and a business that purchases stakes in established hedge funds. In all of BAAM’s business lines, it carefully selects and partners with fund managers across a variety of asset classes and strategies to create solutions for its investors. Further information is available at www.blackstone.com. Follow us on Twitter @Blackstone.

*$358B AUM as of 9/30/14 includes assets from Columbia Management Investment Advisers, LLC and its affiliate Columbia Wanger Asset Management, LLC.

BAAM and Blackstone AUM as of 9/30/14. Source: Form 10-Q filed 11/06/14.

Columbia Management and Blackstone are not affiliated.

Investment products offered through Columbia Management Investment Distributors, Inc., member FINRA. Advisory services provided by Columbia Management Investment Advisers, LLC.

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