Latest news with #BlackstoneInc
India.com
6 days ago
- Business
- India.com
Meet Mukesh Ambani's friend, China is scared of him, owns company with assets worth thrice of India's GDP; his name is..., business is...
Mukesh Ambani's Jio Financial Services has partnered with Larry Fink's BlackRock to create Jio-BlackRock Asset Management Services in India. (File) Mukesh Ambani-led Jio Financial Services Limited (JFSL) recently joined forces with BlackRock– the world's largest asset management firm– to venture into the rapidly growing Indian mutual fund industry which is estimated to own assets worth Rs 70 lakh crore by April 2025 end, according to latest data. The joint venture has birthed a new entity, Jio-BlackRock Asset Management Private Limited, which has received approved from market regulator SEBI to start its business operations in India. 'World's most powerful man' BlackRock was established by Larry Fink in 1988, considered by many as the 'world's most powerful' individual, primarily due to sheer volume of assets managed by his firm. According to latest data, BlackRock manages assets worth an estimated $11.58 trillion, as of 2024 end. For context, the amount is around thrice the total GDP of India, the world's fourth-largest economy. About 10 percent of total shares and bonds in the world's stock markets are handled by BlackRock, which makes essentially makes the firm akin to a shadow bank that is larger and much more powerful than any other financial institution on the planet. Headquartered in New York City, BlackRock owns stakes in major firms in almost every sector, including in tech giants like Microsoft, Apple, Amazon, Nvidia, Google, Meta and Tesla. The company has 70 offices in 30 countries, and clients in 100 countries. Larry Fink and the birth of BlackRock Credited by many for starting debt syndication, Larry Fink started trading shares from a young age to earn quick money, and was appointed as the Managing Director of a major bank at just 31 years of age. During his tenure, Fink churned out unprecedented profits for the bank, making $1 billion in just one year. Buoyed by his success, Larry Fink began taking more risks which backfired as the bank incurred a $100 million loss in a single quarter, resulting in him being sacked. Armed with knowledge of the working of stock markets and financial institutions, Larry Fink joined hands with famous investor and founder of Blackstone Inc. Steve Schwarzman, to establish BlackRock, which has today transformed into a gargantuan asset management firm with assets worth a staggering $11.58 trillion. The year was 1988 and Fink was 35 at the time. Schwarzman's Blackstone Inc. invested $5 million dollars in Fink's venture, and General Electric (GE) became the firm's first client. The company grew at a rapid pace, and in just five year, its assets under management reached $20 billion. But Schwarzman soon left due to growing differences with Fink, following which the firm was official named BlackRock. How powerful is BlackRock? Today, BlackRock is regarded as the world's most influential financial institution, and its influence can be gauged from the fact that even the highly-restrictive Chinese government could not prevent it from venturing into the country. During the 2008 financial crisis, the US government turned to BlackRock for help even as some analysts blame the asset manager for being at the root of the economic meltdown. Later, in 2020, when the bond market was in shamble due to the Covid-19 pandemic, BlackRock once again came to the rescue. Larry Fink joins hands with Mukesh Ambani Earlier, in February this year, Mukesh Ambani-owned Jio Financial Services announced its partnership with Larry Fink-led global asset management giant, BlackRock, to create Jio-BlackRock, a joint venture that will provide asset management services in India. As per details, Ambani's Jio Financial Services Ltd. and BlackRock have inked a deal to create a joint venture on 50:50 partnership basis. Last year, the venture received approval from securities regulator SEBI to launch a mutual fund business. According to market experts, Mukesh Ambani aims to turn the India's financial sector upside down with the Jio-BlackRock joint venture, while asset management titan, that had exited the country in 2018, views this as an opportunity to tap into one of the world's fastest-growing major economy.
Bloomberg
27-05-2025
- Business
- Bloomberg
Blackstone Buys $5 Billion in PE Stakes From New York Pensions
By Marion Halftermeyer and Save Blackstone Inc. agreed to buy $5 billion of private equity holdings from the New York City pension system, one of the largest sales of its kind. The transaction, which represented 450 individual commitments in 125 funds from 75 different managers, is for 'portfolio strategic realignment' purposes, according to a statement from the New York City Comptroller's office, not liquidity needs. Blackstone declined to comment.
Yahoo
22-05-2025
- Business
- Yahoo
Blackstone Inc. (NYSE:BX) 'Has A Lot Of Data Centers,' Says Jim Cramer
We recently published a list of Jim Cramer Reveals 'Quiet' Stock That Goes Up In This List Of 12 Stocks. In this article, we are going to take a look at where Blackstone Inc. (NYSE:BX) stands against other stocks that Jim Cramer recently discussed. In a recent appearance on CNBC's Squawk on the Street, Jim Cramer commented on the recent downgrade of US credit. In a surprising development that led markets to end flat during the day, ratings agency Moody's downgraded America's perfect credit rating from the highest rating of AAA to AA+. Mentioning the development, Cramer said: "No we gotta go back to when there was a surprise. Of course when we saw S&P downgrade our. . .debt Triple A to AA+. And that was, you know we got hit pretty badly, down 6.6% in August 5th of 2011. But then we had, we had Fitch downgrade us. And that was not that bad. That was a down 1.38, when. . .And David, what's happening, that didn't happen then, was that is an alternative, the money keeps going to these European stocks. And it's rather amazing because when you look at dollar denominated, you. . .Germany and Spain up 30%!" The CNBC host also linked the lack of faith in US debt with younger generations relying on Bitcoin. He outlined: "Well, I think that Bitcoin is where, I was doing a bottle signing for my wife. . . .younger people, they don't wanna talk about stocks. They just talk about how, what a mess this debt is. So we're buying crypto. And one of them said really interesting, which was like, the President is no longer as focused on the market. President's focused on Bitcoin. Now, I think that there have been a series of articles about the President and Bitcoin. Not that complementary. But, it does point out to the fact that he sees more than. . ." To make our list of the stocks that Jim Cramer talked about, we listed down the stocks he mentioned during CNBC's Squawk on the Street aired on May 19th. For these stocks, we also mentioned the number of hedge fund investors. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). Number of Hedge Fund Holders In Q4 2024: 67 Blackstone Inc. (NYSE:BX) is one of the biggest asset managers in the world. The firm has been quite busy this year as it's been announcing deals back and forth. Blackstone Inc. (NYSE:BX)'s shares dipped by 7.8% in April after reports surfaced about China reducing private equity investments in the US. Cramer's latest comments about the firm came as Blackstone Inc. (NYSE:BX) announced that it would acquire a utility company: "We know Blackstone has a lot of data centers. We know TXNM is in the area with a lot of data centers. I still think this is motivated by the need to have cheap power. Although remember, they are not a generator. Overall, BX ranks 6th on our list of stocks that Jim Cramer recently discussed. While we acknowledge the potential of BX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than BX but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-05-2025
- Business
- Yahoo
Blackstone Begins Sale of Clarion Events While the Market Recovers
Blackstone Inc. (NYSE:BX) has started the selling process of UK-based Clarion Events to gauge private equity interest after market disruption brought on by former US President Donald Trump's tariff policies, according to four sources with knowledge of the situation. After purchasing Clarion for £600 million in 2017, the private equity behemoth helped the company withstand the COVID-19 crisis. According to one source, the business might now sell for about £2 billion, or about 12x its EBITDA. A side view of a traditional bank branch, its polished glass entrance indicating a secure and reliable banking experience. Information memoranda were distributed this month, and CVC, KKR, PAI Partners, Ardian, and Hillhouse Investment expressed interest. Clarion's Global Sources trade fairs in China are the source of these inquiries. As events in China and Hong Kong improved, Clarion recently reported a revenue rise to £432.9 million for the 12 months ending January 2024, up from £257 million the year before. Following the volatility of the tariff, the prospective Clarion deal would rank among the biggest private equity deals. Blackstone Inc. (NYSE:BX) postponed the process in anticipation of stability after Trump's tariff announcement on April 2 caused the biggest dealmaking slump in 20 years. The company observed that Clarion has controlled expenses despite pressure and that its cash flows are above budget. Recent agreements like KKR's $3.1 billion OSTTRA sale and Prada's $1.38 billion Versace acquisition show that the sentiment has improved following the U.S.-China tariff truce. While we acknowledge the potential of BX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BX and that has 100x upside potential, check out our report about this READ NEXT: and .
Yahoo
22-05-2025
- Business
- Yahoo
Blackstone Begins Sale of Clarion Events While the Market Recovers
Blackstone Inc. (NYSE:BX) has started the selling process of UK-based Clarion Events to gauge private equity interest after market disruption brought on by former US President Donald Trump's tariff policies, according to four sources with knowledge of the situation. After purchasing Clarion for £600 million in 2017, the private equity behemoth helped the company withstand the COVID-19 crisis. According to one source, the business might now sell for about £2 billion, or about 12x its EBITDA. A side view of a traditional bank branch, its polished glass entrance indicating a secure and reliable banking experience. Information memoranda were distributed this month, and CVC, KKR, PAI Partners, Ardian, and Hillhouse Investment expressed interest. Clarion's Global Sources trade fairs in China are the source of these inquiries. As events in China and Hong Kong improved, Clarion recently reported a revenue rise to £432.9 million for the 12 months ending January 2024, up from £257 million the year before. Following the volatility of the tariff, the prospective Clarion deal would rank among the biggest private equity deals. Blackstone Inc. (NYSE:BX) postponed the process in anticipation of stability after Trump's tariff announcement on April 2 caused the biggest dealmaking slump in 20 years. The company observed that Clarion has controlled expenses despite pressure and that its cash flows are above budget. Recent agreements like KKR's $3.1 billion OSTTRA sale and Prada's $1.38 billion Versace acquisition show that the sentiment has improved following the U.S.-China tariff truce. While we acknowledge the potential of BX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BX and that has 100x upside potential, check out our report about this READ NEXT: and . Sign in to access your portfolio
