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☆ Public-cloud providers are reimagining themselves as consultants. Here's how AWS, Azure and Google Cloud are helping finance firms use the tech to rethink their business.
▼ + stars: | 2022-11-29 | by ( Bianca Chan | ) www.businessinsider.com time to read: +5 min

In turn, public-cloud providers are reimagining themselves as business consultants. Wall Street firms are embracing the cloud for everything from research to risk and marketing. Cloud providers are building teams to interface with execsFinancial firms making the jump to the cloud are thinking beyond their IT divisions. Some of the largest Wall Street shops are taking the opportunity to rethink how they run their businesses entirely. Wall Street uses cloud to hit the reset buttonSelipsky's comments ring true on Wall Street, where cloud projects can have firm-wide ripple effects.

☆ From the future of work to algos for home pricing, these are what the brightest young minds in real estate are working on
▼ + stars: | 2022-11-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

There's no shortage of ties between Wall Street and real estate. So it's only fitting that we'd highlight Insider's third-annual list of rising stars in real estate. The latter boils down to trying to use tech to automate and innovate a key, but sometimes costly, part of the business, something Wall Street is well versed in. There is Megan LeMense, 34, a former WeWorker who is thinking about the future of the office in her role at Raise Commercial Real Estate. BlockFi is the latest crypto firm caught up in the FTX debacle.

☆ Blackstone draws a rare 'sell' rating from Wall Street as an analyst raises concerns over 2 high-profile funds
▼ + stars: | 2022-11-22 | by ( Rebecca Ungarino | Casey Sullivan | ) www.businessinsider.com time to read: +3 min

In a rare move for Blackstone, an analyst downgraded the firm's stock rating to "underperform." Blackstone, which has expanded funds aimed at retail investors, said performance is strong. Blackstone shares fell on Tuesday after a Wall Street analyst outlined a grim picture for two of the private-equity and real-estate giant's most prized funds. Credit Suisse research analyst Bill Katz assigned an "underperform" rating to Blackstone. It's a rare negative rating on the firm, which tends to draw cheers from Wall Street analysts who are bullish on Blackstone's position as the largest private-equity investor.

☆ Blackstone's Schwarzman says he won't back Trump in 2024
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON/NEW YORK, Nov 16 (Reuters) - Blackstone Inc (BX.N) Chief Executive Stephen Schwarzman, who has been one of Wall Street's biggest donors to Donald Trump's election campaigns, said on Wednesday he will not back the former president in 2024. Trump announced he would run in the 2024 U.S. presidential election on Tuesday, launching an early bid to become the Republican nominee in an effort to pre-empt potential rivals. Schwarzman said it was time for new party leadership and that he would back a different Republican in the presidential contest. "America does better when its leaders are rooted in today and tomorrow, not today and yesterday," Schwarzman said. Schwarzman is the latest Republican to announce support for other candidates besides Trump.

Blackstone Credit is working with an investment bank to explore options for PRI Operating at a time when commodity prices continue to trade at elevated levels after touching multi-year highs earlier in 2022. The sources cautioned a sale of PRI Operating was not guaranteed and the value Blackstone Credit might secure was difficult to estimate given how volatility in commodity prices influences asset valuations. PRI Operating did not respond to comment requests. Founded in 2017, PRI Operating is backed by Blackstone Credit and management. In July, Reuters reported Blackstone Credit and Apollo Global Management were marketing for sale Canadian oil and gas producer Ridgeback Resources.

[1/4] James Gorman, Chairman and Chief Executive of Morgan Stanley, speaks during the Global Financial Leaders Investment Summit in Hong Kong, China November 2, 2022. "It’s a painful transition, but not an unexpected transition," said Gorman, also the bank's chairman, at the Global Financial Leaders' Investment Summit. It was Hong Kong's biggest corporate event since it shut its borders in 2020 and introduced restrictions to combat COVID-19. Inflation and "very quick" monetary tightening after over a decade of relatively accommodative policies are making the world more volatile and uncertain, said Goldman Sachs CEO David Solomon (GS.N). If central banks find a way to tame inflation meaningfully and in a balanced way, it will "increase the chance of a soft landing" for their economies, Solomon said.

☆ Blackstone's earnings fall 16% on sharp drop in asset sales
▼ + stars: | 2022-10-20 | by ( Chibuike Oguh | ) www.reuters.com time to read: +2 min

NEW YORK, Oct 20 (Reuters) - Blackstone Inc (BX.N), the world's largest alternative asset manager, said on Thursday its third-quarter distributable earnings fell 16% year-on-year, owing to a sharp drop in asset sales amid a downturn in the market. Distributable earnings — the cash used to pay dividends to shareholders — fell to $1.4 billion from $1.6 billion a year earlier. Financial markets have been rocked by geopolitical unrest from the Russia-Ukraine conflict and rising interest rates by central banks, which have prevented private equity firms like Blackstone from cashing out their investments for top dollar. During the quarter, Blackstone said its opportunistic real estate funds fell 0.6%, corporate private equity funds depreciated by 0.3%, and hedge funds gained 1%. Register now for FREE unlimited access to Reuters.com RegisterReporting by Chibuike Oguh in New YorkOur Standards: The Thomson Reuters Trust Principles.

☆ Blackstone's president, Jonathan Gray, says rental properties are still a smart investment as developers slash supply, keeping rents high
▼ + stars: | 2022-10-20 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +3 min

Gray said this is good news for Blackstone, which has invested heavily in multifamily real estate. But as real estate isn't immune from the rising interest rates rocking most financial markets, multifamily investments that grew significantly last year are still facing headwinds. Jonathan Gray, Blackstone's president and chief operating officer, says there's no need to panic, though, given other economic factors now in play. He argued that demand for rental housing isn't going anywhere and that with supply further constrained, rents can continue to rise. Gray described rental properties as "beneficial" because it doesn't cost much to invest in them after they're built.

☆ Blackstone is betting big on lending out money in the private markets, and the PE giant has $182 billion to do it
▼ + stars: | 2022-10-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Blackstone has some money to lendBlackstone, the world's largest private-equity firm and a big fan of warehouses, reported earnings on Thursday. By comparison, back in the good ole days (see: Q3 2021), Blackstone reported a profit of $1.4 billion. Blackstone reported its private credit unit was up 3% in the third quarter and 9.3% over the past 12 months. To read more about Blackstone's push into private credit, click here. A Fed president spoke somewhere that a Fed president shouldn't really be speaking, The New York Times reported.

☆ That nondescript building on the side of the highway is the newest gold mine Wall Street is trying to tap
▼ + stars: | 2022-10-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

But first, inside the latest Wall Street investment trend that's offering double-digit returns. Meet Wall Street's newest gold mine. So why should you care about Wall Street's sudden interest in warehouses? To read more about Wall Street's appetite for warehouses, check out the full story here. PE firms have started buying up stakes in law firms.

☆ Blackstone and Prologis turned warehouses from safe and boring investments into white-hot assets. Now they're battling to see who can own more.
▼ + stars: | 2022-10-19 | by ( Alex Nicoll | Danielle Walker | Daniel Geiger | ) www.businessinsider.com time to read: +11 min

In other words, big money is buying up warehouse space as fast as smaller owners can sell. The coronavirus pandemic accelerated this change, with warehouse investment outpacing office investment in 2020 and 2021, according to CBRE. A Prologis warehouse in Ichikawa City, Japan. Prologis, Blackstone, and the rest of big money duke it outOther big-money investors have increasingly invested in warehouses. The UK's Segro once sold warehouse space to Blackstone — now it's acquiring its own warehouses for last-mile delivery that Blackstone might have otherwise picked up for itself.

☆ Only one city has foiled Blackstone's $320 billion real estate empire
▼ + stars: | 2022-10-01 | by ( Dan Latu | ) www.businessinsider.com time to read: +4 min

Danish parliament even passed a "Blackstone law," which prevents new landlords from raising rents. Blackstone has one of the largest real estate portfolios in the world, with $320 billion invested in commercial and residential properties spanning the US, Spain, and, at one time, Sweden. In the Guardian, reporter Hettie O'Brien details how a Copenhagen tenants group thwarted Blackstone's expansion, aided by a national political mood wary of international investors. Blackstone's journey to becoming a worldwide player in residential real estate began after it seriously invested in American properties following the 2008 housing and stock-market crash. Blackstone's involvement in the Copenhagen housing market angered locals for two reasons, according to the Guardian.

☆ The Fed cannot stop hiking rates until there are major job losses, says Jim Cramer
▼ + stars: | 2022-09-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed cannot stop hiking rates until there are major job losses, says Jim Cramer'Mad Money' host Jim Cramer and the 'Squawk on the Street' team discuss the Federal Reserve's efforts to tamp down inflation following comments from Blackstone's Jonathan Gray.

☆ How Blackstone, the private equity giant behind cult-favorite sunscreen Supergoop, is thinking about its next big consumer bet
▼ + stars: | 2022-09-26 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +6 min

The growth of e-commerce has opened new private equity opportunities, a top investor said. The $941 billion private equity firm took a majority stake in Supergoop last December. The investment valued Supergoop, which makes sunscreen and sun protection-focused makeup, at some $600 million to $700 million at the time, Bloomberg News reported. "What is at work here is the colossal, growing nature of private equity everywhere," said Carter Dougherty, communications director for the progressive advocacy coalition Americans for Financial Reform. Some $78 billion of that is in private equity, with the rest across real estate, hedge fund solutions, and credit and insurance, according to filings.

It is the largest office REIT in Asia by area. Shares in the Embassy REIT closed at 354.42 Indian rupees on Friday in Mumbai, giving it a market capitalisation of $4.15 billion. Blackstone currently has a 32% stake in the Embassy REIT and at the current market value the proposed sale by Blackstone would represent 7.2% to 9.6% of its stake, according to Reuters calculations. ADIA INTERESTADIA is likely to pick up about $200 million of Blackstone's stake sale, with talks also ongoing with other possible investors, the first source said. For ADIA, the investment would expand its interest in the Indian office market.

☆ Bank of Italy clears Benetton-Blackstone's bid for Atlantia
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +1 min

The logo of Italian infrastructure group Atlantia is seen outside its headquarters in Rome, Italy, October 5, 2020. REUTERS/Guglielmo Mangiapane/File PhotoMILAN, Sept 21 (Reuters) - The Bank of Italy has cleared a multi-billion euro buyout bid for infrastructure group Atlantia (ATL.MI) proposed by the Benetton family and U.S. fund Blackstone , the two bidders said in a statement on Wednesday. read moreThe bid heralds a new phase for Atlantia which sold its domestic motorway unit earlier this year to draw a line under a political dispute sparked by a deadly bridge collapse in 2018. The Benetton family, which already owns 33% of Atlantia, and Blackstone need to get the final go ahead from Italy's market watchdog Consob before they can launch the bid on the stock market. The proposed bid needed Bank of Italy's greenlight because the central bank oversees some activities of Atlantia's digital toll payment unit Telepass.

☆ How Josh Harris, the owner of the 76ers and Devils, upset Apollo insiders with the time he spent on personal investments
▼ + stars: | 2022-09-20 | by ( Casey Sullivan | Hayley Cuccinello | ) www.businessinsider.com time to read: +16 min

One former Apollo executive couldn't wrap his mind around how the firm got investors onboard with Harris' personal activities. One advisor to Harris' family office said there would be an internal conversation every year to ensure the proper expense allocations. Several former Apollo employees, however, said other Apollo executives were concerned about Harris' use of firm resources. Few if any sources Insider spoke with expected much to change in how private-equity executives managed their personal investments. The lawyer said that the documents often state that a firm's executives will dedicate "as much time as reasonably necessary" to managing their investments.

☆ How to land a job in private equity, from Blackstone to Apollo, KRR, General Atlantic, and more
▼ + stars: | 2022-06-03 | by ( Business Insider | ) www.businessinsider.com time to read: +6 min

Private equity is a rewarding but challenging field to break into. Here is what we found about pay at private equity firms, including Blackstone, Apollo, and Bain Capital. Private equity recruiting has been starting earlier than ever Getty ImagesPrivate equity firms like to recruit from investment banks. These days, the private equity recruiting process has started earlier than ever, and it's resulting in middle-of-the-night interviews with offers being made — and blown up — all before Labor Day. General Atlantic managing director Alex Crisses walked Insider through the growth-equity investment firm's elite summer souring internship.

Persons: Jeffrey Hamilton, Alyssa Powell, Blackstone, Samantha Lee, Drew Angerer, Skye Gould, Jon Gray, Grace Koo, Read, Sara Diniz, Carlyle, Alex Crisses, Thoma Bravo, —, Warburg Pincus, Wharton's, Axel Springer Organizations: Blackstone, KKR, Morning, Getty, Apax Partners, Oaktree, of Foreign Labor, Apollo, Bain Capital, Labor, KKR KKR, General Atlantic, PJT Partners, Partners, dealmakers, Wall, University of Michigan Locations: Carlyle, Blackstone, Axel

One of the sources said the bid could be announced before Saturday, as the two partners rush for taking the Italian infrastructure group private after an unsolicited approach by a consortium led by Global Infrastructure Partners (GIP) and Brookfield. Benettons' holding company Edizione, which controls Atlantia with a 33% stake, and Blackstone are expected to set up a new company that will launch the offer for the infrastructure group, the sources said. In March, GIP, Brookfield and Spain's ACS (ACS.MC) approached the Benettons with a proposal to buy the infrastructure group, they said last week. "Edizione and Blackstone are not currently discussing any plan to involve GIP and Brookfield in their bid," one of the sources said. CRT declined to comment; GIC, Global Infrastructure Partners and Brookfield was not immediately available to comment.

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