Blackstone: a valuable platform of satellites
Blackstone (NYSE: BX) has grown to become one of the world’s largest and highest-quality asset managers – managing a staggering US$571 billion in assets across the major asset classes. We believe Blackstone is well-positioned to capture: (i) the ongoing shift towards a core-satellite approach to portfolio construction; and (ii) the asset price appreciation that continues to flow from the ongoing structural decline in interest rates.
