BeBeez Trading Floor roundup with eToro support about the performances of private capital firms listed on global exchanges.
On 5 September, Friday, the US Bureau of Labor Statistics said that 263000 people applied for unemployment benefits in the previous week, the highest in four years. The news enshrined the weakness of the US labour market and consolidated expectation for falling inflation and thus lower official interest rates. Traders now take the 25-basis point cut in the Fed Fund rate for granted, and expectations are growing for further cuts that would bring the interest rate below 4%.
Such a context has been of benefit to NYSE-listed Blackstone (+6.7%), KKR (+5.8%) and Blue Owl (+5.4%).
In 2Q25, Blackstone’s profits available for dividends increased by 25% yoy (report).
KKR, a firm that Jerome Kohlberg, Henry Kravis and George Roberts founded, took advantage of the same factors that are driving Blackstone, namely growth assets in infrastructure, credit and insurance. Rob Lewin, KKR cfo, previously said that he considered inflation the main risk to future profitability. The labour market news reassured in this respect, as on 10 September, Wednesday, KKR’s share price jumped 4% after the Bureau released the data.
Investors appreciated that NYSE-listed Blue Owl is close to complete a GP Led deal through which it will move the assets of Dyal Capital Partners IV, a closing fund, to a new vehicle that will own minorities of HIG Capital, London-listed Bridgepoint and other private equity firms. The new fund already raised 1 billion US Dollars in equity and 1.7 billion in debt.
The market capitalization of NYSE-listed Ares Commercial Real Estate (-5.9%) plummeted as investors carried on profit taking sales (see here a previous post by BeBeez).
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