ℹ️ How are these calculated?
🎯 Investment Thesis
Blackstone is the world's largest alternative asset manager with $1T+ AUM — and the largest private DC investor through QTS Realty ($70B+ DC portfolio). At 16x forward PE and 32% below ATH ($190), this is the cheapest it's been relative to its growth. TD Cowen Buy $183, Citizens Outperform $195. When rates come down, BX re-rates — lower rates = higher real estate values, more deal flow, more performance fees. 3.6% dividend yield while you wait.
⚠️ Key Risk
Fell 2.8% today. At $130, down 32% from ATH — the market is concerned about "higher for longer." JP Morgan lowered PT to $158, Piper Sandler to $158, Barclays to $164 — all lowering. Performance fees are lumpy and unpredictable. If commercial real estate deteriorates further, BX portfolio values compress. Private credit competition intensifying.
By The Numbers
Event Impact
Largest DC investor — $70B+ data center portfolio. Owns QTS Realty, building AI-ready mega-campuses. The PE play on AI infrastructure.
Real assets (real estate, infrastructure) provide inflation hedge in geopolitical stress.
No quantum relevance.
International real estate and PE investments. Some China/Asia exposure.
Rate-sensitive business model — lower rates = higher asset values, more deal activity, more fundraising. $1T+ AUM benefits from cheap capital. 3.6% dividend yield. Performance fees accelerate in low-rate environments.
Infrastructure investments include energy assets. QTS data centers are massive power consumers.
Benefits from government infrastructure spending (roads, bridges, airports). Fiscal stimulus increases deal flow. Rising government debt indirectly supports real asset values.
Price Targets
Upcoming Catalysts
Competitive Landscape
Company Background
Founded 1985 by Steve Schwarzman and Pete Peterson. Grew from a leveraged buyout shop into the world's largest alternative asset manager. QTS Realty acquisition ($10B in 2021) positioned BX as the biggest private DC owner.