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In private credit, tightening credit conditions resulting from a handful of bank failures and rescues in the United States have opened up opportunities for non-bank players like pensionfunds, he said. That beat the fund’s reference portfolio (an internal benchmark it sets for itself), which had a return of just 0.1
billion was 8% higher year over year, driven by positive organic base fee growth and the impact of market movements on average AUM over the last 12 months. Higher performancefees and technology services revenue also contributed to revenue growth. Our annualized effective fee rate was flat compared to the first quarter.
Blackstone is still a net buyer of assets, but given the macro setup, with the high stockmarket valuations and anticipated rise in IPOs, when do you expect to inflect and be a net seller of assets in corporate private equity? If you work at a state pensionfund today, you also are getting that same benefit.
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