David Fink ’23 pitched The Blackstone Group (NYSE: BX) on November 28, 2022. Blackstone is the largest manager of alternative assets in the United States with Total Assets Under Management of $950.9 billion as of their most recent quarter. The company was founded in 1985 and operates globally with headquarters in New York, NY. Blackstone operates within four main segments: Real Estate, Private Equity, Hedge Fund Solutions, and Credit & Insurance. Given the company’s diverse operations, Blackstone is well positioned for any market environment. Despite the recent economic turmoil, Blackstone is advancing through its largest fundraising cycle ever, successfully providing clients with capital protection, growing their AUM, and continuing to complete transactions. Overall, David’s investment rationale was focused on strong fee related earnings growth, the private equity cycle, potential inclusion in the S&P 500, and a strong dividend yield. SMIF voted to sell 1200 shares of their Financial Sector ETF (XLF) position and buy 500 shares of Blackstone (BX) using the proceeds, in addition to cash in the portfolio.