Group 1 - Value investing is essential for total return-focused investors, emphasizing the need to buy stocks worth more than their purchase price [1] - The company invests significant resources, including thousands of hours and over $100,000 annually, into researching profitable investment opportunities [2] - The approach has garnered over 180 five-star reviews from satisfied members, indicating a successful strategy in maximizing returns [2]

Assets Under Management - Total Assets Under Management in the Real Estate segment reached $315.4 billion as of December 31, 2024[35]. - The Private Equity segment manages approximately $352.2 billion in Total Assets Under Management as of December 31, 2024[39]. - The Credit & Insurance segment manages $375.5 billion in Total Assets Under Management as of December 31, 2024[48]. - The Multi-Asset Investing segment has $84.2 billion in Total Assets Under Management as of December 31, 2024[51]. Investment Strategies - The Blackstone Real Estate Partners (BREP) platform targets high-quality assets with outsized growth potential driven by global economic trends[36]. - The Private Wealth Strategy is expanding to offer more investment products to high-net-worth individuals, reflecting an increasing portion of Total Assets Under Management[55]. - The Credit & Insurance segment is one of the largest credit managers globally, focusing on both investment grade and non-investment grade credit[48]. - The Core+ real estate strategy includes perpetual capital vehicles, contributing significantly to management fees and performance revenues[54]. - The investment process includes rigorous evaluation and risk management, ensuring a qualitative and quantitative assessment of investment opportunities[56]. Revenue and Fees - The management fees for Blackstone's investment funds are generally based on an annual rate, payable monthly or quarterly, and are not subject to clawback[65]. - Performance revenues from carry funds typically consist of carried interest, which is generally up to 20% of net realized income and gains generated by the fund[68]. - The general partner of certain open-ended funds is entitled to an incentive fee allocation between 7% and 12.5% of net profit, subject to a hurdle amount of 5.5% to 7%[72]. - Investors in many funds have the opportunity to make additional co-investments, sometimes without management fees or carried interest[74]. - Blackstone's revenues primarily consist of management and advisory fees, incentive fees, investment income, interest and dividend revenue, and other sources[655]. Competition and Market Environment - The asset management industry remains intensely competitive, with competition based on investment performance, transaction execution, and access to capital[75]. - Certain institutional investors are increasingly preferring to in-source investment professionals and make direct investments, creating competition for Blackstone[76]. - The company faces intense competition for attractive investment opportunities from various financial institutions, corporate buyers, and other funds, which may create competitive disadvantages due to differing capital costs and risk tolerances[77]. Employee and Workplace - Employee retention and attraction are critical for the company's success, with a focus on creating an inclusive workplace to access a broader talent pool[78]. - The company has a strong commitment to sustainability, focusing on generating strong returns while pursuing investments in the global energy transition[79]. - The company emphasizes the importance of a diverse workforce, believing it leads to better investment outcomes and overall firm performance[80]. - Nearly 90% of employees engaged globally with the Blackstone Charitable Foundation's initiatives in 2024, highlighting the company's commitment to community involvement[85]. - The company offers comprehensive employee benefits, including a minimum of 21 weeks of primary caregiver leave and various family planning resources[93]. - The compensation structure is designed to align employee interests with those of investors, with a significant portion of senior employees' compensation being performance-based[90]. - The company provides extensive training and development opportunities for employees, including compliance training and leadership development programs[88]. Financial Performance - Total revenues for 2024 reached $13,229,968, a significant increase of 64.5% compared to $8,022,841 in 2023[625]. - Net income for 2024 was $5,437,809, representing a 122.3% increase from $2,444,253 in 2023[627]. - Management and Advisory Fees increased to $7,188,936 in 2024, up 7.8% from $6,671,260 in 2023[625]. - Total investment income surged to $4,542,002 in 2024, compared to $232,842 in 2023, marking a substantial increase[625]. - Basic net income per share rose to $3.62 in 2024, up from $1.84 in 2023, reflecting a growth of 96.2%[625]. - Total expenses for 2024 were $6,819,326, an increase of 36.9% from $4,981,130 in 2023[625]. - Comprehensive income for 2024 was $5,361,147, compared to $2,503,951 in 2023, indicating a growth of 114.8%[627]. Regulatory Compliance - The company is subject to extensive regulatory compliance, including SEC regulations and international standards, which may impact operations and profitability[96]. - The company operates under various regulatory frameworks in multiple jurisdictions, including the U.K. and Ireland, ensuring compliance with local laws[100][101]. - Blackstone's investment funds and vehicles not domiciled in the EEA are advised by a registered U.S. investment adviser under the Advisers Act[62]. Risk Management - The enterprise risk management framework is designed to manage various non-investment risks, including financial, operational, and regulatory risks[108]. - Blackstone's compliance group oversees communications between private and public sides to maintain compliance with legal obligations[106]. - The firmwide valuation committee reviews the valuation process for investments to ensure appropriate standards are applied consistently[109]. - Blackstone's internal audit operates independently to evaluate the effectiveness of governance and risk management processes[107]. Investment Valuation - The fair value of certain underlying investments is critical for determining performance allocations, which are subject to market conditions and management's assumptions[614]. - Fair value measurements of financial instruments are classified into three levels based on market price observability, with Level I being the most observable and Level III requiring significant management judgment[675][678]. - Real estate investments are valued using methods such as discounted cash flow and market approach, considering projected operating cash flows and comparable asset sales[678]. - Blackstone utilizes various methods to determine the fair values of private equity investments, including discounted cash flow and market approaches, with valuations based on projected net earnings and EBITDA[679]. - The fair values of credit-focused investments are generally determined using market prices or discounted cash flow methods, with expected cash flows projected based on contractual terms[681]. Financial Position - Total assets increased to $43,469,875 thousand as of December 31, 2024, up from $40,287,530 thousand in 2023, representing a growth of approximately 5.4%[619]. - Investments rose to $29,800,566 thousand in 2024, compared to $26,146,622 thousand in 2023, marking an increase of about 10.1%[619]. - Cash and cash equivalents decreased to $1,972,140 thousand in 2024 from $2,955,866 thousand in 2023, a decline of approximately 33.2%[619]. - Total liabilities increased to $23,974,860 thousand in 2024, up from $22,212,316 thousand in 2023, reflecting a rise of about 7.9%[619]. - Stockholders' equity grew to $8,212,321 thousand in 2024, compared to $6,816,798 thousand in 2023, an increase of approximately 20.5%[619]. - The total equity of Blackstone Inc. increased to $18,693,616 thousand in 2024 from $16,896,141 thousand in 2023, representing a growth of approximately 10.6%[619].

Group 1 - Blackstone Mortgage Trust, Inc. (NYSE: BXMT) has successfully reduced the discount between its book value and stock price recently [1] - Concerns arise regarding the mortgage trust's actual payout and book value performance [1]

Group 1 - Brad Thomas, along with HOYA Capital, leads the investing group iREIT®+HOYA Capital, focusing on REITs, BDCs, MLPs, Preferreds, and other income-oriented alternatives [1] - The team of analysts has over 100 years of combined experience, including backgrounds as a hedge fund manager, due diligence officer, portfolio manager, PhD, military veteran, and advisor to a former U.S. President [1] - Brad Thomas has over 30 years of real estate investing experience, having acquired, developed, or brokered over $1 billion in commercial real estate transactions [2] Group 2 - Brad Thomas has been featured in major media outlets such as Barron's, Bloomberg, and Fox Business, and is the author of four books, including "REITs For Dummies" [2]

Core Insights - Stratos Capital Partners (S.C) was founded in 2017 by a team of investment professionals focused on financial markets, macroeconomics, and investment strategy [1] - The firm initially concentrated on algorithmic trend-following strategies but has evolved towards a multi-asset and multi-strategy investment model [1] - The portfolio manager has over 15 years of experience in the investment industry, managing portfolios for ultra-high-net-worth families, with a focus on systematic strategies [1] Investment Philosophy - The investment philosophy emphasizes systematic design, multi-asset composition, and multi-strategy execution [1] - Rigorous risk management is considered fundamental to the multi-asset and multi-strategy investment model [1] - For equities, the firm relies on value investing principles and other factors that generate consistent beta across market cycles [1] Qualitative Assessments - While the approach is heavily quantitative, a degree of judgment and strategic thinking is necessary for qualitative assessments at the individual stock level [1]

Group 1 - The investing group iREIT®+HOYA Capital is led by Brad and HOYA Capital, focusing on REITs, BDCs, MLPs, Preferreds, and other income-oriented alternatives [1] - The team of analysts has over 100 years of combined experience, including diverse backgrounds such as a former hedge fund manager and a military veteran [1] - Brad Thomas has over 30 years of experience in real estate investing, having been involved in over $1 billion in commercial real estate transactions [2] Group 2 - Brad Thomas has been featured in major media outlets like Barron's, Bloomberg, and Fox Business, and is the author of four books, including "REITs For Dummies" [2]

Blackstone Inc. (NYSE:BX) Bank of America Securities Financial Services Conference 2025 February 11, 2025 10:30 AM ET Company Participants Michael Chae - Vice Chairman and Chief Financial Officer Conference Call Participants Craig Siegenthaler - Bank of America Craig Siegenthaler Good morning, everyone. And welcome to Bank of America's 33rd Annual Financial Services Conference. This is Craig Siegenthaler, North America Head of Diversified Financials at BofA. And it's my pleasure to introduce Michael Chae. M ...

As many readers know, I began my journey on Seeking Alpha covering REITs and I continue to do so; however, my investment in Blackstone (NYSE: BX ) highlights the fact that a diversified approach toIntroducing iREIT®Join iREIT® on Alpha today to get the most in-depth research that includes REITs, mREIT, Preferreds, BDCs, MLPs, ETFs, Builders, and Asset Managers. Our iREIT® Tracker provides data on over 250 tickers with our quality scores, buy targets, and trim targets.We recently added an all-new Ratings Tra ...

Shares of Blackstone (BX) tanked 4.1% yesterday despite reporting better-than-expected fourth-quarter 2024 results. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.BX’s distributable earnings of $1.69 per share surpassed the Zacks Consensus Estimate of $1.46. Also, the figure reflected a surge of 52% from the prior-year quarter. Additionally, total segment revenues were $4.15 billion, soaring 64% year over year. The top line outpaced the Zacks Consensus Estimate of $3.79 billion. On ...

Core Viewpoint - Blackstone's investments in data centers remain strong despite the emergence of low-cost AI models from DeepSeek, as the need for physical infrastructure for AI is still critical [1][3]. Group 1: Company Strategy - Blackstone has $80 billion worth of leased data centers and emphasizes a "very prudent approach" in its strategy for this segment [2][5]. - The company highlights its partnerships with major global firms, reinforcing its position in the data center market [2][5]. Group 2: Market Dynamics - The rise of DeepSeek has raised concerns about potential slowdowns in data center investments due to its low-cost AI offerings [3][5]. - However, Blackstone's COO Jonathan Gray believes that lower costs could lead to increased AI adoption, ultimately boosting demand for data centers [3][4]. Group 3: Industry Outlook - As AI usage increases significantly, the necessity for data centers remains vital, according to Blackstone [4]. - Analysts from Jefferies support this view, indicating that the data center segment will continue to be important [4].