Blackstone Reports Good Third Quarter and Sets Another AUM Record at $361 Billion
Blackstone reported a good third quarter, benefiting from strong levels of inflows, and we plan to maintain our wide moat rating and $37 fair value estimate. We think Blackstone continues to deliver differentiated performance across all areas of its business, leading to 8% growth in assets under management to $361 billion. In an environment where many pension funds have turned in negative performance over the past 12 months, Blackstone’s funds are easily topping their benchmarks by a few hundred...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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