BeBeez Trading Floor roundup with eToro support about the performances of private capital firms listed on global exchanges.
The rise in long-term interest rates and the uncertainty that the shutdown triggered pushed up Treasury yields. Financial operators are also wondering how the Government will solve this situation. The latest employment data don’t come from the US Bureau of Labor Statistics and therefore raise questions about their reliability. However, the Fed reckons that employment is not solid and therefore announced a rate cut of 25 bps by the end of 2025. The yield curve steepened. Private capital firms, especially private equity investors, must therefore apply long-term discount rates when calculating NAV. This situation also affected Listed European private equity players. Private credit fund managers and Business Development Companies (BDCs) that lend funds to unlisted mid-caps are instead benefiting from the continuing favourable economic climate in the US. NYSE-listed Goldman Sachs BDC (+1,7%) attracted traders’ money ahead of the 3Q25 results release. Investors also favoured Nyse-listed Ares Capital Corp (+1.3%) and Trinty Capital Inc. (+1.1%).
The market capitalization of NYSE-listed giant Blackstone (-5.2%) plummeted. On 31 October, Friday, the share price of NYSE-listed Carlyle (-8.8%) dropped after investors carried on a sell on the news. In 3Q25, the firm’s assets under management rose by 7% year-to-date (474 billion US Dollars) while fee revenues increased by 12% from 3Q24 and by 16% (946 million) ytd (press release). Between May and September 2025, Carlyle share price grew by 72%. NYSE-listed Evercore decided to lower from 21 US Dollars to 19 US Dollars per share the target price of NYSE-listed Blue Owl Capital, a BDC that recently attracted the investors’ money (see here a previous post by BeBeez).
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