Alternative asset managers rally after Blackstone earnings
BUZZ-Alternative asset managers rally after Blackstone earnings ** Shares of alternative asset managers gain ground on Thursday after Blackstone kicked off the earnings season for the industry
** Ares Management ARES.N up 5%, Blackstone BX.N up 6.8%, TPG TPG.O up 4.3%, Carlyle Group CG.O up 4.8%, KKR KKR.N up 2.6%, Blue Owl Capital OWL.N up 4.3%, and Apollo Global Management APO.N up 1.7%
** BX struck an upbeat tone on monetization activity in Q4 after beating Q3 profit estimates; co also signaled strong demand across investor types
** Investor sentiment had been weak for alternative asset managers heading into Q3 earnings, given concerns around rising borrowing costs and choppy market backdrop
** TD Cowen analysts say BX commentary should help bolster sentiment for alts, pointing out OWL, TPG, APO and ARES
(Reporting by Arasu Kannagi Basil in Bengaluru)
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