Latest news with #BlackstoneInc.
Yahoo
a day ago
- Business
- Yahoo
Interval Funds Having Big Year on Private Credit Demand
Interval funds, a niche rival to ETFs and mutual funds, are having a big year as investors increasingly utilize the vehicle to gain access to private markets. Asset managers including TCW have launched new interval funds, while Blackstone Inc., Wellington Management and Vanguard Group issued a joint fund this year. Asset managers have launched 25 so far this year, bringing the market total to 139, according to Morningstar Direct. They hold about $100 billion in assets, the largest being the $27.9 billion Cliffwater Corporate Lending Fund, Morningstar said. Interval funds are closer to mutual funds than ETFs due to their illiquidity. Still, their market is dwarfed by the $11 trillion in nearly 4,400 exchange-traded funds, as well as the $20 trillion in about 6,600 mutual funds. The funds' structure lends itself to investing in things like private credit and other assets not readily accessible in public markets. Unlike ETFs, which must be redeemable daily, interval funds can be redeemed at certain periods—intervals—typically quarterly. This quarterly redemption permits fund managers to participate in esoteric investments like asset-backed finance. Tom Balcom, founder of 1650 Wealth Mgt. in Lighthouse Point, Florida, said he's putting more client money into interval funds as demand for access to private credit markets rises. For example, a client wanting 20% exposure to fixed income may have 10% of his or her assets put into interval funds, he said. 'They offer better yields, and clients say, 'I'll give up the liquidity for the higher yield',' he said. The funds carry higher fees, with the tradeoff being less volatility and better yield, he added. For example, TCW in April launched the TCW Private Asset Income Fund, which allocates about 80% of the portfolio to private asset-backed credit in consumer finance, residential, hard assets and financial assets, the company said. The launches also come as ETF issuers struggle to crack the private asset market. The $54.7 million SPDR SSGA Apollo IG Public & Private Credit ETF (PRIV), the first exchange-traded fund offering private market access, hasn't budged since its late February launch and has had no inflows since early March. The Securities and Exchange Commission has raised liquidity and naming issues with State Street Corp., which launched the ETF with Apollo Global Management. The agency has said the fund was misleadingly named and had liquidity risk | © Copyright 2025 All rights reserved 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
19-05-2025
- Business
- Yahoo
Blackstone (BX) Acquires TXNM Energy For $11.5 Billion
On May 19, Blackstone Inc.'s (NYSE:BX) infrastructure unit announced the acquisition of utility company TXNM Energy Inc. (NYSE:TXNM). Blackstone has agreed to pay $61.25 per share (a 23% premium) in cash, which implies a total enterprise value of $11.5 billion. TXNM Energy operates two electric utilities in New Mexico and Texas through its subsidiaries PNM and TNMP, serving around 800,000 homes and businesses. After necessary approvals, the deal is expected to close in the second half of 2026. Bloomberg had earlier reported a potential for an agreement, and talks over a potential deal were ongoing, with KKR & Co. also being a suitor for TXNM. A row of utility poles and power lines, showing the reach of the electric utility operations. Bloomberg noted that the deal is evidence that power demand in the US is expanding for the good, after many years of stagnation. The change is coming due to the construction of new facilities such as data centers and the increasing electrification of the economy. It also mentioned other recent deals, such as a $12 billion deal by NRG Energy Inc. (NYSE:NRG) and Constellation Energy Corp.'s (NASDAQ:CEG) acquisition of Calpine Corp. for $16.4 billion, to highlight a better environment for such deals. Blackstone Inc.'s (NYSE:BX) is the world's largest alternative asset manager, with over $1 trillion in assets under management (AUM). Within that, Blackstone Infrastructure has $60 billion of AUM and focuses on long-term investments in North American infrastructure platforms. 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 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 the cheapest AI stock. READ NEXT: and . Disclosure: None.
Bloomberg
15-04-2025
- Business
- Bloomberg
Trump Ally Marjorie Taylor Greene Bought Tesla, Amazon, Blackstone Before Rally
Representative Marjorie Taylor Greene sold US Treasuries and bought stakes in Inc., Blackstone Inc. and Tesla Inc. the day before President Donald Trump put a 90-day pause on retaliatory tariffs and prompted a market rally. Greene, the Georgia Republican who's a close ally of Trump, revealed the transactions in a financial disclosure last week.
The Independent
11-04-2025
- Business
- The Independent
BlackRock CEO thinks we might already be in a recession
As the stock market turbulence prompts fears that the U.S. could soon be in a recession, an investment management firm executive believes we're already there. President Donald Trump 's back-and-forth approach to his tariff policy — announcing an across-the-board tax one week and then pausing it the next — has caused the markets to go wild. In just a week's span, the market has endured historic drops — after the president unveiled his new 'Liberation Day' tariffs — and historic gains — after Trump announced a 90-day pause. But with some levies still in effect and others set to return in a few months, the gains haven't curbed fears of uncertainty over the future of the U.S. economy. 'I think we're very close, if not [already] in, a recession now,' BlackRock CEO Larry Fink warned on CNBC 's 'Squawk on the Street' on Friday. Trump has announced that 75 countries have started negotiating regarding the tariffs, but China isn't one of them. He then imposed an additional levy on China, raising its total tariff to a very hefty 145 percent. 'I think you're going to see, across the board, a slowdown until there's more certainty. And we now have a 90-day [pause] on the reciprocal tariffs — that means longer, more elevated uncertainty,' he noted. Fink warned of the pitfalls in the wake of the release of BlackRock's first quarterly report of 2025, in which he also highlighted the unpredictability of what's to come. 'Uncertainty and anxiety about the future of markets and the economy are dominating client conversations,' he wrote. The BlackRock CEO isn't the only one who is concerned about the negative effects from the uncertainty over Trump's trade war. Jon Gray, president of Blackstone Inc., told an audience at a Steers Center for Global Real Estate event Thursday: 'The longer you have periods of heightened volatility,' the higher the chance that 'something goes awry and that has some sort of domino effect.' "I still think this is more 'sell the rip' than 'buy the dip,'' in stocks, he remarked. Renaissance Macro head of economics Neil Dutta told Yahoo Finance on Thursday: 'Lots of problems continue. But it is nice to see the President backing off and focusing on China.' Still, he warned: 'The issue is prolonged uncertainty." Trump's allies have insisted that there's nothing to worry about, and that certainty is on the horizon. "You had the highest rise in stock market history [Wednesday]. Of course there's gonna be a little pullback,' Peter Navarro, Trump's trade adviser, told CNN Thursday. 'It's just normal retracement after a big day. It's no big deal." Treasury Secretary Scott Bessent said on Thursday that he expects after negotiating with other countries, 'we will end up in a place of great certainty over the next 90 days.'
Bloomberg
09-04-2025
- Business
- Bloomberg
Blackstone Netted €9.8 Billion for Europe Property During Crash
Blackstone Inc. has raised the largest ever pool of external capital for a European real estate fund, narrowly surpassing its own previous record against the backdrop of a severe property market correction. The private equity firm hauled in €9.8 billion ($10.8 billion) for Blackstone Europe Real Estate Partners VII after a two-year fundraise that took place as asset values plunged in response to the end of ultra-low interest rates.
