On June 25, Blackstone rose 3.12% in regular trading, trading at $117.17/share, with turnover of $114 million. The stock rebounded following two consecutive sessions of selling pressure triggered by private credit redemption concerns across the alternative asset management sector.
On the news front, Blackstone and Bain Capital have been shortlisted in the sale process for Fuji Media's property business, Sankei Building. Preliminary bids reportedly value the real estate unit at approximately 1 trillion Japanese yen, potentially making it the largest property deal in Japanese history. Shortlisted bidders will begin due diligence ahead of second-round offers expected in September.
The broader alternative asset management sector staged a collective rebound, with peer KKR rising 5.58%, Ares Management up 2.49%, and BlackRock gaining 1.64%. The recovery follows sector-wide declines after multiple firms, including Blackstone's $79 billion BCRED fund, Apollo's $25 billion ADS fund, and Morgan Stanley's $7 billion private credit fund, imposed quarterly redemption caps of 5% amid surging withdrawal requests.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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