Core Viewpoint - The article suggests that Blackstone Inc. (NYSE: BX) has an inflated valuation multiple, leading to a poor risk/reward relationship, prompting a recommendation for passive income investors to sell the stock [1]. Group 1: Company Analysis - Blackstone Inc. is currently viewed as having an inflated valuation, which raises concerns about its investment attractiveness [1]. - The recommendation to sell is specifically aimed at passive income investors, indicating a strategic shift in investment approach [1]. Group 2: Research and Investment Opportunities - The author emphasizes the importance of monitoring high-tech and early growth companies, suggesting a focus on innovation and disruption within the investment landscape [2].

Samuel Smith has a diverse background that includes being lead analyst and Vice President at several highly regarded dividend stock research firms and running his own dividend investing YouTube channel. He is a Professional Engineer and Project Management Professional and holds a B.S. in Civil Engineering & Mathematics from the United States Military Academy at West Point and has a Masters in Engineering from Texas A&M with a focus on applied mathematics and machine learning.Samuel leads the High Yield Inve ...

Shares of large-cap financial stocks, even blue chip names such as American Express (AXP -3.88%), Blackstone (BX -8.42%), and Ally Financial (ALLY -4.74%), plunged on Monday, with the above three stocks falling 4.3%, 7.8%, and 5.1%, respectively, as of 2:17 p.m. ET.The across-the-board declines were likely due to angst over President Donald Trump's morning social media post regarding Federal Reserve Chairman Jay Powell, which some investors took as a threat to the Fed's independence. That opens up a potenti ...

Core Insights - Blackstone Secured Lending Fund (BXSL) is highlighted as a strong investment in the business development company (BDC) sector, focusing on defensive, first-lien lending strategies [1] - Since its inception, BXSL has generated approximately $17.65 per share, indicating a solid performance in the market [1] Company Overview - BXSL operates as a business development company, providing first-lien loans, which are considered less risky compared to other types of lending [1] - The fund is part of a broader strategy that emphasizes dividend investing as a means to achieve financial freedom [1] Investment Strategy - The article emphasizes the importance of dividend investing, portraying it as an accessible path for individuals seeking to build long-term wealth [1] - The author shares insights from extensive experience in mergers and acquisitions (M&A) and business valuation, which informs the investment approach [1]

根据公开信息统计：截至周五下午，本周（4月12日-4月18日）LP动态共28起。 LP 6 0 0亿，国家级AI基金登场 上周深圳一场座谈会上，工信部规划司副司长、国家人工智能基金筹备组副组长张建华在会 上透露国家人工智能基金最新进展—— 「解码 LP 」系投资界旗下专注 LP 报道公众号，关注各地基金政策，捕捉 LP 最新动态，欢迎关注！ LP 黑石募集了史上最大欧洲不动产基金，106亿美元 黑石近日宣布，旗下最新欧洲不动产基金Bl a c k st o n e Re a l Est a t e Pa rt n e rs Eu r o p e VII已 完成最终募资。BREP Eu r o p e VII共获得 9 8亿欧元（1 0 6亿美元） 的总资本承诺，成为有 史以来获得第三方资本承诺规模最大欧洲不动产基金。 《杭州市建设人工智能产业发展高地实施方案（2 0 2 5年版）（征求意见稿）》公开征求意 见。其中提到，加强产业基金支持。引导" 3+N"杭州产业基金群撬动社会资本、金融资本， 投向人工智能相关方向的产业基金规模超1 0 0 0亿元。组建润苗直投基金，重点支持具备硬 科技属性的本地人工智能初创企 ...

Financial Data and Key Metrics Changes - The company reported GAAP net income of $1.2 billion for the quarter, with distributable earnings increasing 11% year-over-year to $1.4 billion or $1.09 per common share [6][7][48] - Fee-related earnings grew 9% year-over-year, reaching $1.3 billion or $1.03 per share, marking one of the best quarters in the company's history [7][47] - Total assets under management (AUM) rose 10% year-over-year to nearly $1.2 trillion, with $199 billion of inflows over the last 12 months [8][47] Business Line Data and Key Metrics Changes - The private credit business expanded significantly, with $465 billion in assets, up more than 2.5 times in the past four years, and inflows of $113 billion over the last 12 months [25] - The private wealth channel saw AUM grow to over $270 billion, with fundraising in this area increasing by nearly 40% year-over-year to $11 billion in Q1 [19][34] - The infrastructure platform's AUM increased 36% year-over-year to $60 billion, with strong performance in its strategies [39] Market Data and Key Metrics Changes - The company raised $62 billion in inflows during Q1, the highest level in three years, reflecting broad-based momentum across various channels [8] - The firm noted that construction starts in U.S. logistics and apartments have fallen to their lowest levels in over a decade, which could support real estate values [15] - The insurance AUM grew 18% year-over-year to $237 billion, indicating strong traction in the insurance channel [31] Company Strategy and Development Direction - The company aims to leverage its $177 billion of dry powder to capitalize on investment opportunities arising from market dislocations [13][66] - A strategic alliance with Wellington and Vanguard was announced to enhance access to public-private investment solutions, reflecting the company's commitment to democratizing private markets [20][21] - The firm continues to focus on areas with high conviction, investing $36 billion in Q1, with a commitment of $13 billion to new deals benefiting from long-term secular tailwinds [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the current turbulent market, emphasizing the strength and stability of the firm [12][22] - The company highlighted the importance of a fast resolution to tariff uncertainties to mitigate risks and maintain economic growth [11][56] - Management noted that the firm is well-prepared to take advantage of opportunities arising from market volatility, with a focus on long-term value creation [57] Other Important Information - The company reported a significant increase in net realizations, up 22%, contributing to the growth in distributable earnings [48] - The firm emphasized its asset-light model and minimal net debt, which provides flexibility to respond to changing market conditions [13][72] Q&A Session Summary Question: Deployment opportunities with $180 billion of dry powder - Management indicated that periods of dislocation often present attractive deployment opportunities, with a focus on sectors like digital infrastructure and energy [60][66] Question: Characteristics of private market solutions - Management highlighted the resilience of their model during stress periods, allowing them to generate excess returns by leaning into market dislocations [70][72] Question: Outlook for North American institutional channel - Management noted that while there may be a slowdown in decision-making, there is a long-term commitment to private assets among clients [82][85] Question: Expansion of global wealth management business - Management discussed the potential growth in the wealth management sector, particularly through the partnership with Wellington and Vanguard [87][94] Question: Direct first-order tariff impact on the portfolio - Management defined direct first-order impact as limited, with a focus on second-order effects related to capital markets and economic slowdown [98][100] Question: Investment-grade private credit opportunities - Management emphasized the flexibility and bespoke solutions offered to borrowers, which are more challenging to execute in public markets [110][113] Question: International backdrop and deployment ability - Management acknowledged questions from global investors regarding geopolitical issues but noted that their businesses continue to operate normally [120][122] Question: Wealth flows and asset class preferences - Management reported no pullback in sales in the wealth channel, indicating strong investor interest in alternatives [126][128] Question: Real estate fundraising appetite - Management observed improved conversations with institutional LPs regarding real estate, although some hesitance remains due to recent market conditions [134][135]

Blackstone’s (BX) first-quarter 2024 distributable earnings of $1.09 per share surpassed the Zacks Consensus Estimate of $1.04. The figure reflects a rise of 11% from the prior-year quarter.Results benefited from higher segment revenues and a surge in assets under management (AUM) balance. However, an increase in GAAP expenses was a headwind.Net income attributable to Blackstone was $614.9 million, down 27.1% from the year-ago quarter.BX’s Segment Revenues Increase, GAAP Expenses RiseTotal segment revenues ...

Group 1 - Blackstone Inc. reported quarterly earnings of $1.09 per share, exceeding the Zacks Consensus Estimate of $1.04 per share, and up from $0.98 per share a year ago, representing an earnings surprise of 4.81% [1] - The company posted revenues of $2.76 billion for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 5.62%, compared to year-ago revenues of $2.55 billion [2] - Blackstone Inc. has surpassed consensus EPS estimates three times over the last four quarters and topped consensus revenue estimates four times during the same period [2] Group 2 - The stock has underperformed, losing about 25% since the beginning of the year, while the S&P 500 has declined by 10.3% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the coming quarter is $1.19 on revenues of $2.9 billion, and for the current fiscal year, it is $5.13 on revenues of $12.39 billion [7] Group 3 - The Zacks Industry Rank places Financial - Miscellaneous Services in the top 31% of over 250 Zacks industries, indicating that the industry outlook can significantly impact stock performance [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors or through tools like the Zacks Rank [5][6]

Blackstone Reports First Quarter 2025 Results New York, April 17, 2025: Blackstone (NYSE:BX) today reported its first quarter 2025 results. Stephen A. Schwarzman, Chairman and Chief Executive Officer, said, "Blackstone reported another quarter of strong results despite turbulent markets. Inflows reached $62 billion — the highest level in nearly three years — reflecting the deep trust we've built with our investors over decades. We also delivered positive investment performance across all of our major strate ...

Financial Performance - GAAP Net Income for Q1 2025 was $1.2 billion, with Net Income Attributable to Blackstone Inc. at $615 million[11]. - Total Revenues for Q1 2025 were $3.29 billion, a decrease from $3.69 billion in Q1 2024[12]. - Distributable Earnings for Q1 2025 reached $1,410,805 thousand, representing an 11% increase compared to Q1 2024[70]. - The company reported a net income per share of $0.80 for Q1 2025, down from $1.12 in Q1 2024[77]. - Total expenses rose to $1,894,432 in Q1 2025, an increase of 5.8% from $1,790,407 in Q1 2024[77]. - Adjusted EBITDA for Q1 2025 was $1,738,711, up from $1,577,216 in Q1 2024, representing a growth of 10.2%[78]. - The actual dividend per common share for Q1 2025 was $0.93, a 12% increase from the previous quarter[71]. Assets Under Management (AUM) - Total Assets Under Management (AUM) reached $1.167 trillion, with Fee-Earning AUM at $860.1 billion[14]. - Total AUM increased to $1,167.5 billion, up 10% year-over-year, with inflows of $61.6 billion in the quarter and $199.1 billion over the LTM[26]. - As of March 31, 2025, Blackstone reported a total Fee-Earning AUM of $860.07 billion, reflecting a 4% increase from the previous year[49]. - Total AUM for Multi-Asset Investing increased by 12% to $87.8 billion with inflows of $3.4 billion in the quarter[44]. Inflows and Deployments - Blackstone reported inflows of $62 billion in Q1 2025, the highest level in nearly three years[2]. - The company deployed $36.4 billion in Q1 2025, with realizations of $25.5 billion during the same period[14]. - Inflows for Real Estate were $6.2 billion in the quarter and $26.0 billion over the LTM, with capital deployed of $5.2 billion in the quarter[35]. - Private Equity total AUM increased 16% to $371.0 billion, with inflows of $21.7 billion in the quarter and $55.6 billion over the LTM[38]. Performance Metrics - Private Credit net returns were 2.0% for 1Q'25 and 10.8% for 1Q'25 LTM; Liquid Credit net returns were 0.4% for 1Q'25 and 6.9% for 1Q'25 LTM[20]. - Realized Performance Revenues surged by 506% to $91.6 million in 1Q'25 compared to 1Q'24, and increased by 88% to $389.6 million over the LTM[40]. - Fee Related Earnings (FRE) for Q1 2025 were $1.3 billion ($1.03/share), with Distributable Earnings (DE) at $1.4 billion ($1.09/share)[14]. - Total Management and Advisory Fees, Net reached $1.89 billion in 1Q'25, reflecting a growth from $1.71 billion in 1Q'24[47]. Shareholder Returns - Blackstone declared a quarterly dividend of $0.93 per share, payable on May 5, 2025[3]. - The remaining available authorization for share repurchase was $1.8 billion as of March 31, 2025[74]. - Blackstone repurchased 0.2 million common shares in Q1 2025, totaling 3.5 million shares over the last twelve months[14]. Market Conditions and Strategy - The company is well-positioned with $177 billion of dry powder to deploy in the current market environment[2]. - The company expects current market activity to impact reported results in upcoming quarters, indicating a focus on adapting to market conditions[105]. - Forward-looking statements reflect the company's current views on operations, earnings, and financial performance, subject to various risks and uncertainties[111]. Investment Performance - Total investments as of March 31, 2025, amount to $58.92 billion, with a net IRR of 10%[62]. - Total net returns for the levered and unlevered funds of the European Senior Debt II strategy were 14% and 8%, respectively[65]. - Blackstone's GP/Fund Investments as of March 31, 2025, included $594 million in Real Estate, $1.5 billion in Private Equity, $988 million in Credit & Insurance, and $113 million in Multi-Asset Investing[104].