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MOVES-Hedge fund King Street hires Blackstone's Mastronardi

NEW YORK, Dec 5 (Reuters) - Hedge fund King Street Capital Management has hired Blackstone's former managing director, Kris Mastronardi, as its new global head of business strategy and managing director, according to a statement issued Monday.

As a global head of strategy, a position just created by King Street, Mastronardi will work closely with the hedge fund's management and investment committees. The fund manages $22 billion in assets.

Mastronardi left Blackstone Alternative Asset Management in June, where he was also global head of business strategy.

King Street's new hire follows the departure announced last month of its partner and global head of markets, Justin Gmelich, who joined multistrategy hedge fund Millennium as its new co-Chief Investment Officer. (Reporting by Carolina Mandl in New York; editing by Jonathan Oatis)