Blackstone Reports Good 4Q; We Think 2017 Prospects Look Better
Blackstone reported a strong fourth quarter, and after a challenging industry environment in 2016, we think the outlook is beginning to improve. We plan to maintain our $37 fair value estimate and wide moat rating.ÂEntering 2016, we were concerned about market volatility, lower IPO activity, and tighter credit markets making it difficult to exit investments and make new leveraged deals. Given the weaker level of exits in private equity, incentive income was negatively affected, and we were also...
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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