Nicola Meaden, founder of TASS Investment Research, has left Tremont TASS (Europe) to join The Blackstone Group, an alternative investment group that is strategic adviser to the $151bn (€166.6bn) California Public Employees' Retirement System (Calpers).

Meaden and Valerie Benard, business development director of Tremont TASS (Europe), have been hired to set up the European operation of Blackstone Alternative Asset Management (BAAM). They join Blackstone's European operations in London, The Blackstone Group International, which includes the property and private equity groups.