New York (Reuters) – Blackstone Group LP (BX.N) vice chairman J. Tomilson Hill, the head of the firm’s fund-of-hedge-funds business, earned $8.5 million last week by selling a portion of his stake in the world’s largest alternative asset manager, according to a filing submitted February 26.
Hill, who joined the firm in 1993, sold 450,000 shares in the firm, referred to as common units, at a weighted average price of $19 on February 22. He continued to directly own 1,045,990 common units after the sale, according to the filing.
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