This is Blackstone that surprised Wall Street by exceeding earnings expectations in the third quarter of 2024.
Blackstone is up 13% so far this week and has a market value that now stands at $195 billion. It comes from reaching a historical high of US$159.71 per share on October 16 and surprising Wall Street by exceeding earnings expectations in the third quarter of 2023.
It is one of the largest alternative investment firms in the world and has just reached a significant milestone in its assets under management (AUM). In total, US$1.1 trillion. “Blackstone thus reflects a solid performance in its funds as well as growing activity in the acquisition market”says Sergio Ávila, senior market analyst at IG.
And he added: “During this quarter, Blackstone attracted capital inflows totaling $41 billion and deployed $54 billion in new investments and commitmentsthe highest figure in more than two years. “This notable reactivation in the flow of operations is directly linked to the relaxation of interest rates by the United States Federal Reserve, which has generated a more favorable environment for acquisitions and investments.”
Steve SchwarzmanCEO of blackstonecalled the results a “widespread acceleration” in all areas of its business, highlighting how the firm managed to take advantage of the current economic environment to maximize its performance.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
