BREAKING: The Boring Company is coming to the State of Tennessee. https://t.co/8BlPFHstXz ...

Our next guest says the rally makes sense. Thinks the S&P could hit 6,700 by year end. Joining us here at Post 9 is UBS Global Wealth senior portfolio manager Alan Rexavan.Allan, welcome back. Good to see you. >> Good to see you, Carl.>> We do have a couple year-end targets with a seven handle. Do you think you might get there. >> Look, uh I think that what we've seen is this rally represents the the prices catching up with policy.People now have faith in the tariff negotiation strategy of the president. An ...

Financial Data and Key Metrics Changes - The company reported GAAP net income for the quarter of $1.6 billion, with distributable earnings also at $1.6 billion or $1.21 per common share, reflecting a 25% year-over-year increase [5][6] - Fee-related earnings grew 31% year-over-year, contributing to a total fee revenue of $2.5 billion, up 27% year-over-year [30][32] - Total assets under management (AUM) increased 13% year-over-year to a record $1.2 trillion, supported by inflows of $52 billion in the second quarter and $212 billion over the last twelve months [7][30] Business Line Data and Key Metrics Changes - The private credit platform has seen significant growth, with AUM increasing threefold over the past five years to $484 billion, and revenue from this platform has increased more than fourfold [16][18] - The private wealth channel has grown AUM to nearly $280 billion, with revenue from flagship vehicles exceeding $700 million in the second quarter alone, compared to approximately $50 million five years ago [21][22] - Infrastructure AUM rose 32% year-over-year to $64 billion, supported by strong investment performance [25] Market Data and Key Metrics Changes - The company noted a favorable economic backdrop with resilient growth and declining inflation, which may allow the Federal Reserve to lower interest rates over time, positively impacting asset values [10][11] - The U.S. stock market is at record levels, with M&A activity accelerating and the IPO market reopening, indicating a more conducive environment for transactions [12][28] Company Strategy and Development Direction - The company is focusing on expanding its platforms in private wealth, credit, and insurance, along with launching multiple new funds [6][7] - The firm aims to capitalize on the $12 trillion U.S. defined contribution channel, which could provide significant growth opportunities [7] - The company is well-positioned to navigate the current dynamic environment, with a strong portfolio concentrated in compelling sectors and $181 billion of dry powder available for investment [13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery in transaction activity, citing a favorable regulatory environment and pent-up demand for M&A and IPOs [28][90] - The company anticipates an acceleration in net realizations as the market stabilizes and transaction activity increases [38][39] - Management highlighted the importance of investment performance, noting that the second quarter represented the highest amount of overall fund appreciation in nearly four years [7][33] Other Important Information - The company has launched BMAX, a multi-asset credit product aimed at expanding access to the private credit universe for individual investors [101] - The firm is targeting significant growth in its insurance channel, managing over $250 billion on behalf of insurers, up 20% year-over-year [18][19] Q&A Session Summary Question: Credit market dynamics and demand - Management noted that demand for private credit remains robust, with clients focused on the enduring premium between liquid markets and private credit, which is expected to continue driving growth [43][45] Question: Real estate market recovery - Management indicated that the recovery in real estate is a matter of timing, with new supply declining and cost of capital improving, leading to a more favorable supply-demand dynamic [52][54] Question: Strategic partners and secondary fund outlook - Management highlighted strong returns in the secondary fund driven by significant new purchases and good appreciation in underlying funds, with a positive outlook for fundraising [61][64] Question: Retirement opportunity set - Management discussed the potential for alternatives in defined contribution plans, particularly in target date funds, emphasizing the need for patience regarding regulatory developments [70][72] Question: Forward-looking guidance on FRE margin - Management expressed confidence in maintaining strong FRE margins, driven by healthy management fee growth and performance revenues, while noting some variability based on fund mix [78][80] Question: Confidence in deal-making activity - Management conveyed increased confidence in transaction activity resuming, supported by favorable market conditions and a busy IPO pipeline [86][90] Question: Real estate performance and accrued fees - Management indicated that a significant portion of real estate AUM is above hurdle rates, suggesting a favorable trajectory for accrued performance fees as the market normalizes [93][95]

Blackstone has gathered about $5 billion for its latest fund designed to make secondhand bets on infrastructure https://t.co/0uZo9GmktO ...

5 4 3 2 1 zero. All engine running. Liftoff. We have a liftoff. That's one small step for man, one giant lift for mankind. The world's largest airliner. Each wing is big enough to hold five tennis courts. This new technology made it possible to meet the user's crucial needs. Enter the computer and a new age. What a computer is to me is it's the most remarkable tool that we've ever come up with. And it's the equivalent of a bicycle for our minds. Here I am playing a game of chess with a computer which is ana ...

We both printed it out, all 23 pages. We haven't read the entirety of it, the skimmed it, but we've been talking for a while about how the focus of the document is infrastructure related, the American technology stack and the energy to support that. Is there substance to it.Well, the substance will really bear out over time, as we see a lot of administrations, not only the Trump administration, but all of its predecessors have flooded Washington with these sorts of policy directives in the past. And the cat ...

Let's start with the Trump action plan. What is this action plan which has been released this morning. Well, it's 23 pages of policy framework, essentially, that is positioned to help what the administration would put it as America winning in Haiti.There's a heavy emphasis on the infrastructure requirements needed, particularly around energy and the energy needed for data center build out. But it goes a little bit further than that in talking about deregulation, essentially cutting red tape on the infrastru ...

By the way, the White House officially unveils that action plan in the last hour. The president said to make his first speech addressing AI at a summit tonight called Winning the AI race. Joining us exclusively this morning is the US Federal Chief AI officer and chief information officer Greg Barbaruchia.Greg, thanks for being with us. Good to see you. Thank you.We got the document, working our way through it. What what's important for viewers to know about it. Uh I'm couldn't be more excited to speak with ...

Group 1 - The article provides a buy rating for Sika AG, highlighting its potential benefits from ongoing infrastructure and data center trends [1] - There is an increasing demand for visibility driven by large-scale government-backed programs and rapid growth in data [1] Group 2 - The author emphasizes a diverse investment approach, incorporating fundamental, technical, and momentum investing strategies [1] - The purpose of writing on Seeking Alpha is to track investment ideas and connect with like-minded investors [1]

we have signed a deal for an additional 4.5 gigawatts of capacity with oracle as part of stargate. easy to throw around numbers, but this is a _gigantic_ infrastructure project.some progress photos from abilene: https://t.co/JfutuoYvn9 ...