Morningstar Rating

Stock Research and Analysis

by Stephen Ellis

Bulls Say

Park Hill, a fund placement service, has placed more than $210 billion in AUM since 2005. The Park Hill relationships are important when it comes time for Blackstone to raise capital for its own funds and provides critical insights into industry trends.
Blackstone’s first mutual fund, launched mid-2013, was allocated $1 billion from Fidelity, which we consider a vote of confidence from a key partner.
The firm’s recent acquisition of Strategic Partners in August 2013 expands its ability to buy secondary stakes in high-quality private equity, real estate, and venture capital funds. Read more 

Bears Say

A downturn in the equity markets could leave potential Blackstone limited partners with limited liquidity and large commitments to other funds, making it very difficult for Blackstone to raise new capital.
Blackstone’s clawback obligations total almost $450 million in late 2013, and it reportedly had to refund cash to partners in 2010. If investment returns suffer, Blackstone could see embarrassing and financially painful clawbacks.
Tougher compliance rules, particularly in Europe and China, could make it harder for Blackstone to market and raise capital for any new funds. Read more 

Management

Chairman and CEO Stephen Schwarzman co-founded Blackstone in 1985 and has been involved in all phases of the firm's development since that time. We believe that Schwarzman and the other general partners at Blackstone have run the firm about as effectively   Read more 

Profile

Blackstone is the world’s largest alternative asset manager with more than $270 billion in assets under management in early 2014. More than just private equity, the firm   Read more 

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