|Bid||35.15 x 1200|
|Ask||35.49 x 1000|
|Day's Range||34.91 - 35.59|
|52 Week Range||29.57 - 37.52|
|PE Ratio (TTM)||18.07|
|Earnings Date||Jul 19, 2018|
|Forward Dividend & Yield||2.18 (6.21%)|
|1y Target Est||40.13|
The deal brings together two rivals that compete for stakes in private-equity shops in a joint bet on Francisco Partners’ growth. The buyers—Blackstone’s Strategic Capital Group and Goldman’s Petershill group—are investing on equal terms, said people briefed on the sale. Francisco said in a news release the transaction gives the San Francisco firm new balance-sheet money to expand and make bigger commitments to funds.
Francisco Partners, a leading technology-focused private equity firm, announced that Blackstone’s (BX) Strategic Capital Group and Goldman Sachs Asset Management’s Petershill program (“Petershill”) (GS) have acquired a minority stake in Francisco Partners. The investment provides Francisco Partners with balance-sheet capital to continue to develop its strong platform while increasing commitments to its own funds, strengthening its alignment with limited partners. Dipanjan “DJ” Deb, Co-founder and CEO of Francisco Partners, said, “Since our inception, we have always prided ourselves on the strength of our relationships.
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When Blackstone Group LP made a bet that shook confidence in the credit derivatives market, U.S. regulators waged an unusual campaign to pressure the investment firm to back down. The Commodity Futures Trading Commission took an interest last year when Blackstone’s GSO Capital Partners LP disclosed it had taken out insurance on bonds issued by Hovnanian Enterprises Inc., wagering the home builder would default on its debts. Blackstone offered Hovnanian a low-cost loan and persuaded the builder to miss a small interest payment in exchange, which would trigger payouts on $333 million in Blackstone’s credit-insurance contracts and yield the firm tens of millions of dollars, depending on market factors.
Of the total 14 analysts covering Blackstone Group (BX) in June, six have recommended a “buy.” Seven analysts suggested a “strong buy,” and one has given the stock a “hold” rating. The ratings on Blackstone haven’t changed in the past three months. Overall, the traditional and alternative asset managers have a weaker outlook primarily because of global uncertainties.
Blackstone Group (BX) has a price-to-earnings ratio of 10.40x on an NTM (next-12-month) basis, while the peer average is 10.17x. Blackstone’s peers have the following price-to-earnings ratios on an NTM basis: Carlyle Group (CG): 8.25x KKR & Company (KKR): 10.71x Apollo Global Management (APO): 11.56x
The real estate segment of Blackstone Group (BX) garnered total revenues amounting to $641 million in the first quarter, a decline of 17% on a YoY (year-over-year) basis. The real estate segment garnered total management fees (net) of $247.9 million in the first quarter, which implies a YoY rise of 15%. The company’s real estate portfolio is witnessing a decent performance.
Blackstone Group’s (BX) credit division witnessed a YoY decline of 11% in its total revenues in the first quarter. This fall was mainly the result of a fall in other revenues, performance revenues, as well as principal investment income. In the first quarter, the division garnered total management fees (net) of $167.6 million, a substantial rise of 35% on a YoY basis.
In the first quarter, Blackstone Group’s (BX) private equity division garnered total revenues of $681.1 million, a substantial rise on a YoY basis. This rise was mainly due to total management and advisory fees (net) as well as performance revenues. The higher volatility in the market was also evident in the first quarter, and it impacted the private equity segment’s realizations.
Blackstone Group’s (BX) CEO expressed optimism about the company’s first-quarter results even though global equity markets witnessed negative momentum and volatility rose in the first quarter. During the period, the company witnessed significant inflows amounting to $18.2 billion. In contrast, peer (XLF) Apollo Global Management’s (APO) inflows stood at $4.9 billion, while Carlyle Group (CG) raised $7.7 billion in the first quarter.
Creditors are stepping up a probe of guitar-maker Gibson Brands Inc.’s pre-bankruptcy dealings, looking for signs the troubled company favored senior lenders, including affiliates of private-equity giants Blackstone Group and KKR & Co. Blackstone’s GSO Capital Partners LP and KKR Credit Advisors (US) LLC are among the largest secured lenders to Gibson, which filed for chapter 11 bankruptcy protection May 1, with $475 million in secured debt.
Selldown of the jumbo $13.5 billion financing backing Blackstone Group’s (NYSE:BX - News) $20 billion acquisition of a 55 percent stake in Thomson Reuters’(Toronto:TRI.TO - News) Financial and Risk unit is under way, banking sources said on Friday. A $8 billion-equivalent Term Loan B is being shown to large institutional investors before an expected September launch, and a $5.5 billion bridge loan to high-yield bond issues has also been launched. The $13.5 billion financing is being led by JP Morgan, Bank of America Merrill Lynch and Citigroup.
Blackstone’s Byron Wien, who predicted that some “lurking” geopolitical factor would upset the U.S. equity markets a few weeks ago, says that the S&P 500 is on track to hit 3000 in next half of 2018. “The upside of the market is that we can get to 3,000,” said the vice chairman of Blackstone Group L.P.’s (BX) Private Wealth Solutions unit.
“The upside of the market is that we can get to 3,000" on the S&P 500, says Blackstone's Bryon Wien.
Chinh Chu, a former Blackstone Group (:BX.N) dealmaker, has partnered with Pinnacle Foods (:PF - News) Chairman Roger Deromedi for a special purpose acquisition company (SPAC) focused on buying consumer companies, people familiar with the matter said on Monday. Chu and Deromedi, along with ex-Blackstone dealmaker Jason Giordano, have hired investment banks for the initial public offering (IPO) of the SPAC, expected later this year, one of the people said, requesting anonymity to speak about the process.
The $8 billion-equivalent term loan B portion of the debt financing backing Blackstone Group’s $20 billion acquisition of a 55 percent stake in Thomson Reuters’ Financial and Risk (F&R) unit is being shown to large institutional investors before an anticipated September launch, sources said on Monday. The $13.5 billion financing, which includes loans and bonds, is being led by JP Morgan, Bank of America Merrill Lynch and Citigroup and is the largest buyout financing since the financial crisis. The jumbo buyout loan is currently being premarketed and is expected to formally launch soon after Labor Day, which will be celebrated on September 3 in the United States, two sources said.
As an investor, I look for investments which does not compromise one fundamental factor for another. By this I mean, I look at stocks holistically, from their financial health toRead More...
Blackstone Real Estate Income Trust, Inc. (“BREIT”) announced today an agreement to acquire the EdR Student Housing Portfolio (the “Portfolio”), with 10,500 beds across 20 assets, for $1.2 billion, in a 95%/5% BREIT-led joint venture with Greystar Real Estate Partners (“Greystar”). The transaction will be completed in conjunction with Greystar’s previously announced $4.6 billion acquisition of Education Realty Trust (EDR), one of the largest owners, developers and managers of collegiate housing in the United States with approximately 45,000 beds serving 47 universities in 26 states. The Portfolio includes student housing assets adjacent to top-tier universities that have demonstrated strong enrollment growth, such as University of California Berkeley, University of California Riverside, University of Virginia, University of Arizona, Arizona State University, University of Colorado Boulder and Penn State.
Blackstone announced today that it will host its second quarter 2018 investor conference call on Thursday, July 19, 2018 at 11:00 a.m. ET. You can listen to the call by dialing +1 391-6747 (U.S.
Blackstone announced today that it will host a conference call for the media on Thursday, July 19, 2018 at 9:30 a.m. ET to review second quarter 2018 results.
Blackstone (BX) today announced two new, additional senior hires in the firm’s Blackstone Insurance Solutions (BIS) group. Erich Schram, former Chief Investment Officer at Guggenheim Life and Annuity Company, has joined as Senior Managing Director, Head of Credit Origination and Trading, and Kevin Relihan, who was a Managing Director in Goldman Sachs Asset Management’s Insurance business, will join BIS as Managing Director, Head of Relationship Management.
The dust is settling from a nasty hedge fund battle over credit-default swaps, enough that observers can now figure out who eked out a profit. The background: GSO Capital Partners, the credit hedge fund within Blackstone Group (BX), bought CDS tied to the debt of home builder Hovnanian Enterprises (HOV). The price of the cheapest outstanding bond set the price for the CDS, which GSO controlled by building supercheap debt. Solus Alternative Asset Management held the opposite position in CDS, and so would have had to pay up, should the CDS be triggered.
Blackstone's Equity Office, a large U.S. owner of office space, said on Wednesday it will offer flexible leasing and workspace in a deal with co-working operator Industrious that promises further ties if a joint effort in Los Angeles proves successful. Chicago-based Equity Office also said it was adopting the name EQ Office as it embraces the growing popularity of flex workspace at the six-building Howard Hughes Center in West Los Angeles, which is under renovation.
PSAV, a global leader in event experiences, announced today that it has entered into a definitive agreement to be acquired by private equity and real estate funds affiliated with Blackstone (BX) ("Blackstone") from affiliates of Goldman Sachs (GS) and Olympus Partners. PSAV delivers on its purpose of connecting and inspiring people by creating impactful event experiences. Through its deep expertise in creative, production, advanced technology and staging services, PSAV is an invaluable partner to meeting and event planners.