Company Overview - Brookfield Corporation is a leading global investment firm focused on building long-term wealth for institutions and individuals around the world [1][2] - The company operates three core businesses: Alternative Asset Management, Wealth Solutions, and Operating Businesses, which include renewable power, infrastructure, business and industrial services, and real estate [1] Financial Performance - Brookfield Corporation has a track record of delivering over 15% annualized returns to shareholders for more than 30 years [2] - The company attributes its success to a conservatively managed balance sheet, extensive operational experience, and global sourcing networks that allow consistent access to unique opportunities [2] Upcoming Events - Brookfield Corporation will host its third quarter 2025 conference call and webcast on November 13, 2025, at 9:00 am (ET) [1] - Results will be released on the same day at approximately 7:00 am (ET) and will be available on the company's website [1]

Core Insights - Patria will release its financial results for Q3 2025 on November 4, 2025, and will host a conference call at 9:00 a.m. ET [1] - The firm specializes in mid-market alternative asset management, focusing on resilient sectors in Latin America and Europe [2] Company Overview - Patria is a leading asset manager in Latin America with over $48 billion in assets under management and 37 years of experience [2] - The company emphasizes long-term investments that promote inclusive and sustainable development in its operating regions [2] Investment Focus - Patria's asset classes include Private Equity, Credit, Real Estate, Infrastructure, and Public Equities [3] - Key sectors of investment are Agribusiness, Power & Energy, Healthcare, Logistics & Transportation, Food & Beverage, and Digital & Tech Services [3] - The investment regions include Latin America, Europe, and the U.S. [3]

Core Points - FS KKR Capital Corp. plans to release its third quarter 2025 results on November 5, 2025, after market close and has declared a fourth quarter 2025 distribution of $0.70 per share [1] - A conference call to discuss the third quarter results will be held on November 6, 2025, at 9:00 a.m. Eastern Time, accessible via a live webcast [2] - An investor presentation will be available on the company's website after the market close on November 5, 2025, and a replay of the call will be accessible shortly after its conclusion [4] Company Overview - FS KKR Capital Corp. is a publicly traded business development company (BDC) that provides customized credit solutions to private middle market U.S. companies, primarily investing in senior secured debt [5] - FS/KKR Advisor, LLC serves as the investment adviser to FS KKR and other business development companies, formed through a partnership between Future Standard and KKR Credit [6] - Future Standard is a global alternative asset manager with over $86 billion in assets under management, focusing on private equity, credit, and real estate investments [7]

Investment Opportunity - Alternative asset managers are exploring a direct route to approximately $12.5 trillion in American workers' retirement plans [1]

Core Viewpoint - Apollo is set to release its financial results for Q3 2025 on November 4, 2025, before market opening, with a management review scheduled for 8:30 am ET [1] Company Overview - Apollo is a high-growth global alternative asset manager with a focus on providing clients with excess returns across various risk-reward spectrums, including investment grade credit and private equity [3] - The company has over three decades of investing expertise and manages approximately $840 billion in assets as of June 30, 2025 [3] - Through its retirement services business, Athene, Apollo offers a range of retirement savings products aimed at helping clients achieve financial security [3]

Core Insights - Blackstone Inc. is valued at a market cap of $129.2 billion and is a leading global alternative asset management firm, providing financial advisory services and investing across various sectors [1] Financial Performance - Blackstone is expected to release its fiscal Q3 2025 earnings on October 16, with analysts predicting an EPS of $1.24, a 22.8% increase from $1.01 in the same quarter last year [2] - For fiscal 2025, analysts forecast an EPS of $5, reflecting a 7.8% increase from $4.64 in fiscal 2024, with a projected growth of 29.8% year-over-year to $6.49 in fiscal 2026 [3] Stock Performance - Over the past 52 weeks, Blackstone shares have increased by 13.3%, underperforming the S&P 500 Index's gain of over 16% and the Financial Select Sector SPDR Fund's return of 19.4% [4] - Following the release of stronger-than-expected Q2 2025 results, Blackstone shares rose by 3.6%, with distributable earnings up 25% to $1.6 billion, driven by robust inflows of $52.1 billion [5] Analyst Ratings - The consensus view on Blackstone stock is cautiously optimistic, with a "Moderate Buy" rating from 22 analysts; seven recommend "Strong Buy," two suggest "Moderate Buy," 12 indicate "Hold," and one has a "Strong Sell" [6] - The average analyst price target for Blackstone is $182.90, indicating a potential upside of 4.3% from current levels [6]

Core Insights - Brookfield Corporation is a leading global alternative asset manager with approximately US$1 trillion in assets under management, focusing on real estate, infrastructure, renewable energy, and private equity [1][2][5] - The company operates a diversified investment model that combines capital raising, asset ownership, and active management to deliver long-term returns for both institutional and retail investors [2][6] Financial Overview - Brookfield's market capitalization is estimated to be between CAD 150–170 billion, with annual revenues often running in the tens of billions USD [10][15] - The company's earnings per share (EPS) and dividend yield are influenced by corporate distribution policies and retained capital decisions, with a focus on capital recycling and opportunistic share repurchases [11][15] - Fee-related earnings have shown steady growth, although they can be offset by valuation resets in cyclical real estate segments [12][13] Operating Segments - The primary sectors of Brookfield's operations include real estate, infrastructure, renewable energy, and private equity, emphasizing control investments and operational improvements [8][14][21] - The company has a multi-boutique platform structure that allows for integrated capital channels and the deployment of large pools of capital into complex transactions [3][4][19] Governance and Leadership - Brookfield's leadership team consists of industry veterans and operational specialists, with a strong emphasis on capital allocation discipline and long-term investing [27][30] - The company has established a governance framework that supports risk management and capital redeployment through a layered management structure [28][30] Market Position - Brookfield is a significant player in Canadian equity indices, frequently included in benchmarks such as the S&P/TSX Composite and S&P/TSX 60, enhancing liquidity and passive investor access [31][35] - The company ranks among the largest alternative asset managers in Canada, with a diverse investor base that includes institutional investors, sovereign wealth funds, and pension plans [33][36]

Core Viewpoint - The potential merger between The Carlyle Group Inc. and Macquarie Group has stalled due to improved investor confidence in Carlyle's performance under CEO Harvey Schwartz, reducing the need for the merger [1][8]. Group 1: Merger Details - The proposed merger would have created a $1 trillion investment powerhouse, positioning the combined firm ahead of competitors like KKR & Co. Inc. and Ares Management Corporation in terms of assets under management (AUM) [2]. - Carlyle's vulnerability to a merger was highlighted in 2022, following the departure of CEO Kewsong Lee, which led to internal instability and lagging valuation compared to peers [3]. Group 2: Leadership Impact - The appointment of Harvey Schwartz as CEO in February 2023 significantly improved investor sentiment, with Carlyle raising $51 billion in fresh capital over the past year, particularly in high-growth areas [4][8]. - Carlyle's strategic initiatives, including a merger of its lending subsidiary and a partnership with Citigroup, have further strengthened its position and diminished the need for a transformational merger [5][6]. Group 3: Performance Metrics - Carlyle's shares have increased by 58.8% over the past year, significantly outperforming the industry growth of 11.3% [7].

Core Viewpoint - Goldman Sachs upgraded Hamilton Lane Inc. to Neutral from Sell, citing its growing presence in the retail wealth channel and improved fee growth prospects, despite concerns about limited valuation upside [1][2]. Group 1: Financial Performance and Projections - Goldman Sachs raised its 12-month price forecast for Hamilton Lane to $162, with expectations that evergreen and private wealth strategies will account for over 50% of management fees by 2027, and wealth-related fees projected to grow at a 51% CAGR from 2025 to 2027 [2]. - The company's NAV is expected to reach approximately $31 billion by 2027, driven by stable demand for private market funds and new product launches [2]. - Fee-related performance revenues from U.S. evergreen vehicles, particularly the Private Assets Fund, are anticipated to contribute more significantly, leading to a margin expansion of about 300 basis points from 2024 to 2027 [3]. - Hamilton Lane's earnings per share are estimated to grow nearly 20% annually through 2027, with shares trading at about 25 times estimated 2026 earnings, aligning with peers [4][6]. Group 2: Recent Earnings and Market Reaction - In August, Hamilton Lane reported first-quarter earnings of $1.31 per share, surpassing analyst expectations of $0.97, although this represented a 13% decline from $1.51 a year earlier [5]. - The company's revenue for the quarter was $175.96 million, exceeding the consensus estimate of $168.56 million, but down 11% from $196.73 million in the same quarter the previous year [5]. - The implied PEG ratio of 1.3 is slightly above the sector average, indicating that much of the anticipated growth is already reflected in the stock price, leaving limited room for multiple expansion [6]. - As of the latest check, HLNE shares were trading up by 3.73% to $151.58 [6].

Company Overview - CaliberCos (CWD) is a small-cap alternative asset manager focused on real estate development and private equity-style strategies, but has struggled to gain traction since its debut [2][3] - The company brands itself as the "Wealth Development Company" [2] Earnings and Financial Performance - CaliberCos currently holds a Zacks Rank 5 (Strong Sell) as earnings estimates have been declining [3] - Over the last sixty days, analysts have reduced their earnings forecasts, leading to a downward revision of the Zacks Consensus Estimates from a loss of $3.81 to a loss of $9.17 for the current year [4] - Despite the bearish sentiment, analysts still forecast a move to profitability next year with a Zacks Consensus Estimate of $0.50 [4] Market Position and Challenges - Revenue trends for CaliberCos have been inconsistent, and profitability remains elusive, making it less attractive to institutional investors who prefer steadier alternative managers like Blackstone or Brookfield [5] - The company faces challenges due to a tougher real estate environment characterized by higher rates, tighter liquidity, and investor caution in commercial development [3] - Caliber's relatively small size and limited operating history as a public company contribute to its volatility without much upside conviction [3] Industry Context - CaliberCos operates in the Financial – Miscellaneous Services industry, which ranks in the Top 22% of the Zacks Industry Rank [6] - Other companies in this industry, such as Lazard (LAZ) and Acadian Asset Management (AAMI), hold a more favorable Zacks Rank, indicating stronger performance [6]