Earnings season for alternative asset managers is underway and
should provide a window into the private market outlook for the
second half. Earnings, of course, shine the spotlight on the large
diversified platforms, a group that generally proves more resilient
to challenging market conditions.
The first data point came in yesterday when Blackstone reported
Q2 fundraising, deployment, and realization totals that defied the
broader industry slowdown. AUM posted a meaningful gain. The
capital raising numbers underscored an industry trend in which the
largest asset managers are able to attract a greater share of
capital. Coming into July, nine funds were in the market with
fundraising targets $20 billion or more.
