Cade Rooney ’25 pitched Blackstone (NYSE: BX) on March 17, 2025. Blackstone is the world’s largest alternative asset manager, with over $1 trillion in assets under management (AUM). Founded in 1985 and headquartered in New York, the firm serves institutional and individual investors by building strong businesses that deliver lasting value. With approximately 12,600 real estate assets and 250 portfolio companies, Blackstone’s scale enables investment in dynamic sectors positioned for long-term growth. The firm maintains additional offices across Asia, Europe, North America, and Central America. Blackstone specializes in multiple alternative asset classes, including private equity, real estate, hedge fund solutions, credit, secondary funds of funds, public debt and equity, multi-asset class strategies, and infrastructure.
Cade’s investment thesis highlighted Blackstone as the industry’s dominant alternative asset manager uniquely positioned to capitalize on major market shifts. Investors are increasingly redirecting capital from traditional low-yielding bonds and overvalued equities toward alternatives—particularly the $20-30 trillion private credit market where Blackstone has expanded from $176B to $450B assets under management in just four years. The firm has simultaneously democratized access to these markets through innovative retail vehicles like BREIT and BCRED. Additionally, Blackstone strategically invests in AI-supporting infrastructure with contracted cash flows that deliver regardless of broader market conditions.
SMIF voted to purchase approximately $70,000 of BX, funded through the partial sale of their BLK holding.
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