Private-Equity Giant Blackstone Joins Coveted S&P 500 Club
Comment of the Day

September 18 2023

Commentary by Eoin Treacy

Private-Equity Giant Blackstone Joins Coveted S&P 500 Club

This article from the Wall Street Journal may be of interest. Here is a section: 

Earlier this month, analysts at Goldman Sachs estimated that Blackstone could attain a 0.19% weighting, implying about $15 billion of demand from index-tracking funds. Some of that buying may have already taken place: Blackstone stock has risen 9% since its inclusion was announced on Sept. 5.

Blackstone is joining after S&P Dow Jones Indices in April relented on a previous ban for new index entrants with multiple share classes.

Eoin Treacy's view

Blackstone rallied impressively over the last month in advance of its entry into the S&P500. The company’s ambitions of soon achieving the goal of $1 trillion under management and its dominant position in private credit have been the other factors that drove interest in the share.

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