Blackstone Investor Day Takeaway
Recently watched Blackstone's Investor Day presentation and am amazed at the Blackstone platform. Some key takeaways:
1) Blackstone is starting a dedicated life-science private equity fund
2) Blackstone's highest performing investment team is not PE, Tactical Opportunities or Real Estate but their secondaries group called Strategic Partners (17% net IRR). On average they close a deal every 3-4 days.
3) Blackstone as a whole is expanding beyond bread and butter institutional investing. The firm is expanding quickly in to insurance solutions and private wealth management, thus calling Blackstone a private equity firm is no longer accurate and misguided.
Anyone else have interesting takeaways?
