BREAKINGVIEWS-Apollo’s divergent path outshines Blackstone

Reuters2023-09-28

(The author is a Reuters Breakingviews columnist. The opinions expressed are his own.)

By Jonathan Guilford

NEW YORK, Sept 28 (Reuters Breakingviews) - Marc Rowan’s $55 bln asset manager found permanent capital in insurance. Steve Schwarzman’s firm uses small-fry investors. That led Apollo to safer assets, while Blackstone is leaning into buyouts that suffer from high rates. Apollo’s valuation can shed its boringness discount.

Full view will be published shortly.

Follow @JMAGuilford on X

(Editing by Lauren Silva Laughlin and Oliver Taslic)

((For previous columns by the author, Reuters customers can click on SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS

| Jonathan.Guilford@thomsonreuters.com; Reuters Messaging: Jonathan.Guilford.thomsonreuters.com@reuters.net))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2370771557?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-09-28 19:58","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2370771557","market":"us","top_or_hot":-1,"title":"BREAKINGVIEWS-Apollo’s divergent path outshines Blackstone","media":"Reuters","content":"<html><body><p>(The author is a Reuters Breakingviews columnist.  The opinions expressed are his own.)</p><p>   By Jonathan Guilford</p><p>      NEW YORK, Sept 28 (Reuters Breakingviews) - Marc Rowan’s $55 bln asset manager found permanent capital in insurance. Steve Schwarzman’s firm uses small-fry investors. That led Apollo to safer assets, while Blackstone is leaning into buyouts that suffer from high rates. Apollo’s valuation can shed its boringness discount.</p><p>   Full view will be published shortly.</p><p>   Follow @JMAGuilford on X</p><p> (Editing by Lauren Silva Laughlin and Oliver Taslic)</p><p>((For previous columns by the author, Reuters customers can click on     SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS </p><p>| Jonathan.Guilford@thomsonreuters.com; Reuters Messaging: Jonathan.Guilford.thomsonreuters.com@reuters.net))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BREAKINGVIEWS-Apollo’s divergent path outshines Blackstone</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBREAKINGVIEWS-Apollo’s divergent path outshines Blackstone\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2023-09-28 19:58</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>(The author is a Reuters Breakingviews columnist.  The opinions expressed are his own.)</p><p>   By Jonathan Guilford</p><p>      NEW YORK, Sept 28 (Reuters Breakingviews) - Marc Rowan’s $55 bln asset manager found permanent capital in insurance. Steve Schwarzman’s firm uses small-fry investors. That led Apollo to safer assets, while Blackstone is leaning into buyouts that suffer from high rates. Apollo’s valuation can shed its boringness discount.</p><p>   Full view will be published shortly.</p><p>   Follow @JMAGuilford on X</p><p> (Editing by Lauren Silva Laughlin and Oliver Taslic)</p><p>((For previous columns by the author, Reuters customers can click on     SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS </p><p>| Jonathan.Guilford@thomsonreuters.com; Reuters Messaging: Jonathan.Guilford.thomsonreuters.com@reuters.net))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0006061336.USD","symbol_name":"Blackrock US Small and MidCap Opportunities A2 USD","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2370771557","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2370771557","pubTimestamp":1695902303,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"(The author is a Reuters Breakingviews columnist.  The opinions expressed are his own.)   By Jonathan Guilford      NEW YORK, Sept 28 (Reuters Breakingviews) - Marc Rowan’s $55 bln asset manager found","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0006061336.USD":"Blackrock US Small and MidCap Opportunities A2 USD","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","BX":"黑石","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","APO":"阿波罗全球管理","BK4184":"其它综合性金融服务","BK4135":"资产管理与托管银行","BK4588":"碎股","BK4585":"ETF&股票定投概念"},"translate_title":"突破视角——阿波罗的分歧之路胜过黑石","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"APO":0.9,"BX":0.9},"content_text":"(The author is a Reuters Breakingviews columnist.  The opinions expressed are his own.)   By Jonathan Guilford      NEW YORK, Sept 28 (Reuters Breakingviews) - Marc Rowan’s $55 bln asset manager found permanent capital in insurance. Steve Schwarzman’s firm uses small-fry investors. That led Apollo to safer assets, while Blackstone is leaning into buyouts that suffer from high rates. Apollo’s valuation can shed its boringness discount.   Full view will be published shortly.   Follow @JMAGuilford on X (Editing by Lauren Silva Laughlin and Oliver Taslic)((For previous columns by the author, Reuters customers can click on     SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS | Jonathan.Guilford@thomsonreuters.com; Reuters Messaging: Jonathan.Guilford.thomsonreuters.com@reuters.net))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2370771557","isCrawlerRequest":true}