BlackRock’s Rieder Seeks Cash for Hedge Fund After Fed Race

BlackRock Inc.’s Rick Rieder, the firm’s top bond-market executive who was passed over by President Donald Trump to be chair of the Federal Reserve, is pursuing investor cash for his first hedge fund in years.

The asset manager stepped up efforts in recent weeks to raise money for TriaXial, which has been in development since last year, according to filings and people with knowledge of the matter. Russell Brownback, deputy chief investment officer for fixed income, is also a portfolio manager.