Blackstone is the world's biggest alternative asset manager. The stock has fallen 7% over the past month, the largest decline among alternative asset managers. The Carlyle Group (CG) fell by 3%, Apollo Global Management (APO) fell by 6%, and KKR (KKR) fell by 5% over the same period.
Blackstone reported an economic net income of $436 million in the fourth quarter, mainly due to lower performance fees that were partially offset by higher interest and dividend income. Its assets under management rose by 16% on a year-over-year basis to $336 billion. The company invested $15.7 billion in new opportunities. This represents roughly half of the company's investments for all of 2015.Alternative investment giant
Blackstone provides financial advisory services to clients around the world. The company's alternative asset management includes investment vehicles focused on private equity, real estate, hedge fund solutions, funds of funds, non-investment-grade credit, and multi-asset class exposures outside other funds' mandates.
Blackstone also provides financial advisory services including financial and strategic advisory services, restructuring and reorganizing advisory services, and capital market and fund placement services. The company faces competition from alternative asset managers as well as traditional asset managers that form part of the SPDR Samp;P 500 ETF Trust (SPY).
Blackstone's revenue fell by 40% in the last fiscal year. The revenue growth for Blackstone's peers The Carlyle Group, KKR, and Apollo Global Management fell by 7.2%, 18.3%, and 59.6%, respectively.