Schwarzman: Blackstone an ‘army that’s moving forward on all fronts’
Thursday, October 27, 2016 1:38 PM ET | By Matt Blumenfeld | S&P Global Research
Even as its mountain of dry powder grows to more than $100 billion, alternative asset manager Blackstone Group LPexpects more capital to flood in as institutional and retail investors alike seek better returns.
The company saw new capital inflows of $14.7 billion in the third quarter, President and COO Tony James said during a call to discuss earnings. Blackstone has raised a total of $53 billion thus far in 2016 and its uncalled capital broke the $100 billion mark in the third quarter.
The influx is not likely to slow down any time soon, as Blackstone is working to attract investors of all types into an array of products, Chairman and CEO Stephen Schwarzman said. The safety and high return provided by alternatives, as well as the fact that investors simply have no place to go when interest rates are so low and equity markets are flat, stands to benefit Blackstone.
“We’ll be like an army that’s moving forward on all fronts,” Schwarzman said.
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