BeBeez Trading Floor roundup with eToro support about the performances of private capital firms listed on global exchanges.
On 3 November, Tuesday a Blue Wave made Donald Trump a lame duck. A change in the controlling majority in the US Congress following the mid-term elections usually triggers a fall in interest rates, as a more divided government tends to curb debt-financed deficit spending, reduce the supply of sovereign bonds that exert a dampening effect on yields.
However, the outcome of the 2026 elections has distinctive and potentially more lasting features, given the strong opposition that voters expressed about Trump’s policies, particularly on foreign affairs, namely tariffs and the conflict with Iran. For such a reason oil prices fell. Should it become a structural decline, it would result in lower inflation and lower market interest rates.
However, recent labour market figures have shown a sharp rise in the number of people in employment in the non-agricultural sectors; with an increase of 159000 workers, well above the average forecast of 60000. This implies stronger expectations of rising wages and prices, thereby reinforcing expectations that the Fed will raise interest rates at the December 2026 FOMC meeting.
Consequently, even in a week marked by an event that was, in some respects, momentous, the factors underlying the performance of the shares – for better or for worse – were internal to the individual organisations.
NYSE-listed Brookfield Asset Management (+9.7%) attracted the investors’ money despite its relevant exposure to AI and data center sector whose valuations may shrink after the Blue Wave, many analysts think. On 2 November, Monday, Brookfield stocks rose by 6.7% after the announcement of the 5.2 billion US Dollars acquisition closing of LXP Industrial Trust, a property group that lets premises to industrial firms in the South and Midwest of the US (press release). On 6 November, Friday, the firm said that in 3Q26, Fee-Related Earnings amounted to 864 million (+15% yoy) while it raised resources of 25 billion (123 billion Year-to-Date) (press release).
NYSE-listed Ares Commercial Real Estate Corp (+8.6%) posted above-expectations quarterly results that led to earnings per share of 0.18 US Dollars (0.08 US Dollars in 3Q25) (press release). The firm’s management also stated that it would continue to reduce its exposure to the office sector. Ares stocks also surged as they traded at the lowest levels in the past 12 months.
NYSE-listed KKR Real Estate Finance Trust (+7%) benefited from the fall in interest rates and from a very poor previous performance. In October 2026, plummeted by 25.5% since the 2Q26 results’ release in July 2026 and the sentiment was very negative. In such cases, even positive news such as a reduction in the TASI tax – which boosts the NAV – can trigger sharp rebounds, partly due to short-covering. On 5 November, Thursday, NYSE-listedCion Investment Corp. (-10%), a BDC that provides mid-market loans and distributes almost all its profits in dividends, released disappointing 3Q26 results: Net investment income fell to 12.3 million, or 0.25 US Dollars per share (0.29 US Dollars in 2Q26), falling short of expectations. The company previously said that the dividend would have been 0.30 US Dollars, but profits could not cover it. Meanwhile, NAV per share fell by 2.7% to 13.2 dollars, due to write-downs and dividends exceeding profits. Accounting profit amounted to -0.07 US Dollars per share (press release). Finally, the company has announced that the basic dividend will be lower next year.
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