Alternative asset managers rally after Blackstone earnings
BX•Shares of alternative asset managers rose Thursday after Blackstone kicked off the industry’s earnings season. Blackstone gained 6.8%, while peers rose between 1.7% and 5%.
BX•BX•BX•Shares of alternative asset managers rose Thursday after Blackstone kicked off the industry’s earnings season. Blackstone gained 6.8%, while peers rose between 1.7% and 5%.
Ares Management rose 5%, Blackstone gained 6.8%, TPG advanced 4.3%, Carlyle Group climbed 4.8%, KKR added 2.6%, Blue Owl Capital increased 4.3% and Apollo Global Management rose 1.7% on Thursday.
Blackstone struck an upbeat tone on fourth-quarter monetization activity after beating third-quarter profit estimates and signaled strong demand across investor types. TD Cowen analysts said its commentary should bolster sentiment for alternative asset managers, pointing to Blue Owl, TPG, Apollo and Ares.
