BeBeez Trading Floor roundup with eToro support about the performances of private capital firms listed on global exchanges.
Investors appear to have factored in the impact of the clash between Iran and the US-Israel axis on the macroeconomic environment. The Fed is therefore pursuing a wait-and-see monetary policy (though not a lax one, according to Chair Jerome Powell’s farewell remarks at the last FOMC meeting he chaired). Shares in private equity firms that have demonstrated the most favourable liquidity profiles and for which significant cash flows are expected in the near term have benefited from this scenario.
Frankfurt-listed Mutares (+6.6%) attracted investors money after hanving announced its decision to sell Magirus, a global producer of fire engines, for 1 billion euros (press release for 2025 results and see here a previous post by BeBeez) an Peugeot Motorcycles (press release).
In 1Q26, NYSE-listed private credit firm Ares management Corp. (+6.1%) posted fees of above one billion US Dollars while loans amounted to 9.5 billion US Dollars (53 billion in the whole 2025 – press release).
NYSE-listed Blue Owl (+5.8%) and other competitors are emerging from the shadow that the impact of AI on software producers cast thanks to stabilising interest rates and economic growth, which are keeping demand for credit from unlisted companies robust whilst safeguarding the quality of portfolios (see here a previous post by BeBeez).
Investors penalised NYSE-listed business development companies Goldman Sachs Bdc (GSBdc-8.1%) and Cion Investments Corp. (-8.7%) for mirroring reasons.
On 8 May, Friday, GSBc market capitalization dropped by 5% as in 1Q26 loans that no longer pay interest rose by 4.7% of the portfoglio with earning per share of 0.22 US Dollars, below the 0.29 US Dollars analysts’ expectations of (press release). However, the firm made such investments before 2022 so GSBdc could be a potential perspective Buy.
After having traded in the last months NYSE-listed Cion Investment Corp. (+6.68%) at a strong discount price on Nav, investors poured money in the firm because of its credit portfolio’s strong focus on senior secured exposures.
After a recent good performance (see here a previous post by BeBeez), several analysts have issued a Strong Sell recommendation on Cion Investments as they reckoned that a dividend of 0,30 US Dollars versus a 0,25 US Dollars net investment income (essentially an interest margin) may jeopardise the sustainability of future remunerations (press release).
The uneven performance between fund managers such as Ares and Blue Owl, which focus on financing extraordinary transactions, and investment banks such as Goldman Sachs and Cion, generally highlights investors’ perception that smaller companies are somewhat vulnerable in the current economic climate.
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