Seeking Alpha

Blackstone on the rise

  • Blackstone (NYSE:BX) has moved closer to its target of having $500B of assets under management after reporting a new current total sum of $279B - an increase of 21%.
  • "Our potential to grow with $270B under management is as great as it was when we had $70B,” says President Tony James.
  • Taking advantage of low interests rates and the rising stock market, Blackstone drew in $62.4B of capital inflows this past year. During the same period, it has returned $50B to investors in its funds as it listed companies and refinanced others.
  • BX +2.6% premarket
Comments (1)
  • Tai Yu
    , contributor
    Comments (1214) | Send Message
     
    Beginning in early Sept '13, BX accelerated its up trend fueled perhaps by the great earning that were repeated quarter after quarter.

     

    BX peaked in early Mar '14 at $35.39 and began a significant correction that bottomed in early May when a low of $27.56 was hit. A rebound presently began and achieved an interim height of $34.09 in early June, short of the previous high. A correction began again albeit accompanied with diminishing volume.

     

    Should BX rise above $35.39, a strongly bullish 'cup and handle' pattern is likely complete and the surge is likely to be strong. Earlier in the conference call CEO reported fantastic performance. I'm particularly by BX's investment in Hilton, that is poised to make $12b, a record for private equity in history.
    18 Jul 2014, 11:19 AM Reply Like
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