Blackstone Lands Major Commitment From Saudi Arabia’s Sovereign Wealth Fund
Blackstone has signed a nonbinding memorandum of understanding with Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, for a $40 billion infrastructure-oriented fund that is primarily focused on the United States, but with a global mandate. The PIF plans to contribute $20 billion, while Blackstone will raise the remaining capital from other limited partners. We plan to maintain our wide moat rating and $37 per unit fair value estimate for Blackstone. The $40 billion in incremental...Blackstone Group, together with its subsidiaries, is a global manager of private capital. The alternative asset management business includes the management of private equity funds, real estate funds, real estate investment trusts, funds of hedge funds, hedge funds, credit-focused funds, collateralized loan obligation vehicles, separately managed accounts and registered investment companies (collectively referred to as the Blackstone Funds). The company's business is organized into four segments: Real Estate, Private Equity, Hedge Fund Solutions and Credit.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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