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Blackstone-Backed Antara Soars 59% on Technology, Lithium Bets

Jan. 13, 2021, 1:00 PM

Antara Capital, a $1.2 billion hedge fund backed by Blackstone Group Inc., soared 59% in its flagship fund last year as wagers including loans to technology companies paid off.

Returns for Antara, which was founded by former Man GLG distressed-credit head Himanshu Gulati, accelerated at the end of the year, according to a letter to investors seen by Bloomberg. The firm notched gains of about 17% and 12% in November and December, respectively. Distressed funds also made the bulk of their 11% gains for the year over those two months, according to Hedge Fund Research Inc.

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