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KUWAIT CITY, Kuwait--(BUSINESS WIRE)--Kuwait Petroleum Corporation ("KPC"), the state-owned corporation overseeing Kuwait's oil and gas sector, today announced that its wholly owned subsidiary, Kuwait Oil Company (“KOC”), responsible for the exploration, production and transportation of crude oil on behalf of the State of Kuwait, has signed a US$ 16.0 billion lease-and-lease-back agreement involving its entire domestic and export pipeline network with a consortium of international infrastructur.

A logo of Blackstone is pictured in Manhattan, New York City, U.S. July 29, 2025. REUTERS/Mike Segar/File Photo Purchase Licensing Rights, opens new tab

SummaryCompaniesBidding for MarineMax has moved into third roundDonerail, Blackstone, Centerbridge among interested partiesInvestment firm Donerail began pushing for a sale last yearNEW YORK, July 24 (Reuters) - Investment firms ​Blackstone (BX.N), opens new tab and Donerail are among the final bidders to acquire MarineMax (HZO.N), opens new tab, two people ‌familiar with the matter said on Friday, as the recreational yacht retailer explores selling itself.

The two, as well as private equity firm Centerbridge, are in the final round of bidding for the Clearwater, Florida-headquartered ​company, said the sources who are not permitted to discuss private deliberations.

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MarineMax, which ​has a market value of around $725 million, caters to a wealthy clientele through ⁠its 65 marinas and storage locations and 70 dealerships, mostly in the U.S. It ​has attracted significant interest at a time the marina business has become a popular investment ​area.

Donerail began pushing MarineMax to sell itself or replace its chief executive officer last year, intensifying pressure on the company after Levin Capital in 2024 urged management and the board to evaluate strategic alternatives.

Representatives for MarineMax, ​Blackstone, and Donerail declined to comment. A representative for Centerbridge did not immediately respond ​to a comment request.

The company has made some changes aimed at addressing concerns of disgruntled investors, including replacing ‌board directors, ⁠but has never publicly acknowledged running a sales process including on Thursday when it reported quarterly earnings.

Reuters reported in February that Donerail submitted an all-cash offer which valued MarineMax at around $1 billion. Donerail subsequently raised its offer, while other buyout firms including Blackstone jumped into ​the mix as ​the company formally solicited buyer ⁠interest from April onwards.

Marinas and superyacht services have seen significant dealmaking in the last 18 months, with investment firms being particularly active.

Lower interest ​rates have supported high-end consumers' spending on luxury items like yachts ​even as ⁠other economic brackets are forced to tighten their belts.

Blackstone, through its infrastructure arm, bought Safe Harbor Marinas in 2025 for $5.7 billion. Fellow infrastructure investor Stonepeak acquired marina owner and operator Southern ⁠Marinas in ​April.

MarineMax was trading around $33.30 per share around midday on ​Friday, putting year-to-date gains around 37%. However, it is still trading at roughly half the value of its lifetime ​high hit in May 2021.

Reporting by Svea Herbst-Bayliss; Editing by David French and Sanjeev Miglani

Our Standards: The Thomson Reuters Trust Principles., opens new tab

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SummaryBlackstone reported very strong Q2 results.However, it remains out of favor with Mr. Market.I take a look at the headwinds and share why I believe that the current stock price weakness presents a golden buying opportunity.Looking for a portfolio of ideas like this one? Members of High Yield Investor get exclusive access to our subscriber-only portfolios. Learn More » MicroStockHub/E+ via Getty Images

About three months ago, I wrote an analysis of Blackstone (BX) Q1 results and highlighted that I believed it was a great buy on the post-earnings dip. Since then, the stock has generated positive

51.21K Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Stephen Schwarzman, CEO and Co-Founder of Blackstone Group, attends the 55th annual World Economic Forum (WEF) meeting in Davos, Switzerland, January 23, 2025. REUTERS/Yves Herman/File Photo Purchase Licensing Rights, opens new tab

CompaniesNEW YORK, July 23 (Reuters) - Blackstone (BX.N), opens new tab is working to address the societal and environmental implications of artificial intelligence development, ​CEO Stephen Schwarzman said on Thursday, as opposition to data ‌center construction mounts in the U.S.

Blackstone, opens new tab and other private capital firms are pouring tens of billions of dollars into businesses and infrastructure that aim to increase compute capacity and ​run power-hungry models.

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But the otherwise deeply divided American electorate is united ​across party lines when confronted by the pace of data ⁠center construction, and only 14% would support one being built in ​their community for technology firms, according to a June Reuters/Ipsos poll.

Blackstone is ​working closely with portfolio companies including data-center businesses "to address the workforce, environmental and community implications of development through the creation of union jobs, workforce training, water-free cooling ​systems, expanded power generation and significant local economic investment," Schwarzman said ​on a conference call.

While the impact of AI could echo the industrial revolution, which ‌eventually ⁠raised living standards, Schwarzman said, "Major change of this type also creates anxiety due to the uncertainty of how the technology will evolve."

Data-center operator QTS, which Blackstone took private for $10 billion in 2021, said earlier this ​month that it ​had terminated a project ⁠in Virginia after years of planning. The project had faced strong local opposition and litigation, despite being approved by ​county authorities.

U.S. President Donald Trump's administration sees AI development ​as ⁠a race against China, but is also working to shield households from an attendant rise in energy costs.

Schwarzman, a longtime Trump donor, said he had personally been "spending a ⁠lot ​of time with leaders in the industry ​and various policymakers thinking about how to address these critical issues, while also preserving the ​advance of America's AI leadership."

Reporting by Isla Binnie; Editing by Nia Williams

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Isla Binnie reports on how company directors and executives manage stakeholder and shareholder interests, with a focus on compensation, corporate crises, dealmaking and succession. She also covers how politics, regulation, environmental issues and the broader economy affect boardroom discussions. Isla previously covered business, politics and general news in Spain and Italy. She trained with Reuters in London and covered emerging markets debt for the International Financing Review (IFR).

Basil writes stories across the U.S. finance file including banks, asset managers, payment firms, insurers, and exchange operators. He also covers initial public offerings on U.S. exchanges and venture capital funding.

Key Takeaways Blackstone's distributable earnings jumped 26% to $1.52 per share, beating the $1.33 estimate.BX's total AUM climbed 11% to a record $1.35 trillion, fueled by $68.3 billion in quarterly inflows.Blackstone's segment revenues rose 24% to $3.8 billion, while GAAP expenses increased 23%. Blackstone’s (BX - Free Report)  second-quarter 2026 distributable earnings of $1.52 per share outpaced the Zacks Consensus Estimate of $1.33. The figure soared 26% from the prior-year quarter.

Results benefited from a rise in assets under management (AUM) and higher revenues. An increase in GAAP expenses was the undermining factor.

Net income attributable to Blackstone was $1.23 billion, surging 61% from the year-ago quarter.

BX’s Segment Revenues Up, GAAP Expenses RiseTotal segment revenues for the reported quarter were $3.8 billion, jumping 24% year over year. The top line beat the Zacks Consensus Estimate of $3.37 billion. On a GAAP basis, revenues were $5.04 billion, which grew 36%.

Total expenses (GAAP basis) were $2.38 billion, up 23% year over year.

As of June 30, 2026, Blackstone had $12.2 billion in total cash, cash equivalents and corporate treasury investments, and $22.7 billion in cash and net investments. The company has a $4.3-billion credit revolver.

Blackstone’s AUM Balance RisesFee-earning AUM grew 8% year over year to $961.6 billion as of June 30, 2026.

The total AUM amounted to $1.35 trillion, up 11%. The rise in total AUM was primarily driven by $68.3 billion in inflows in the reported quarter.

As of June 30, 2026, the undrawn capital available for investment was $228.1 billion.

BX’s Share Repurchase UpdateDuring the reported quarter, Blackstone repurchased 0.2 million shares.

Our Take on BlackstoneBlackstone is well-positioned for top-line growth, supported by a continuous rise in AUM. The company is expected to keep gaining from its fundraising ability. However, elevated expenses, private credit-related concerns and a tough operating backdrop are headwinds.
 

Currently, Blackstone carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Earnings Dates & Expectations of Blackstone’s PeersKKR & Co. Inc. (KKR - Free Report) is set to report second-quarter 2026 results on July 30.

Over the past seven days, the Zacks Consensus Estimate for KKR & Co’s quarterly earnings has been revised lower to $1.41. The estimated figure indicates a 19.5% rise from the prior-year quarter.

Ares Management (ARES - Free Report) is scheduled to report second-quarter 2026 results on July 31.

Over the past week, the Zacks Consensus Estimate for Ares Management’s quarterly earnings has been revised lower to $1.29. The estimated figure indicates a 25.2% jump from the prior-year quarter.

Key Takeaways Oil Prices Are Back Up Near $100/bbl on Hostilities in IranWeekly Jobless Claims Drop to Near-60-Year LowsAAL, TMUS, BX and LMT Post Strong Q2 Beats Ahead of the Open Thursday, July 23rd, 2026

Hostilities heating up in the Strait of Hormuz are taking spot oil prices up 4-5% and pre-market futures down precipitously. With the Yemeni Houthis now involved bombing Saudi oil tankers and repeated U.S. air strikes in Iran, WTI oil prices have risen +4% to over $91 per barrel (/bbl) and Brent crude is up +5% to nearly $100/bbl.

The Dow, as a result, is down -560 points at this hour. The S&P 500 is -83 and the tech-heavy Nasdaq is -450. The small-cap Russell 2000 is -27 points at this hour. This, despite mostly positive data in earnings reports yesterday afternoon from Texas Instruments (TXN - Free Report) , Southwest Airlines (LUV - Free Report) and most especially Alphabet (GOOGL - Free Report) . All these stocks are down in today’s pre-market trading session.

Jobless Claims Back to 1960s Lows: 187K, 1.796M
Prior to the Covid pandemic, which pushed jobless claims up to record highs in the first half of 2020, we saw Weekly Jobless Claims reduce to lows not seen since Jimi Hendrix was on the album charts (album charts? ask your parents) in the late 1960s. We’re back there again this morning: Initial Jobless Claims reached 187K for last week, well below the 212K expected and the slightly upwardly revised 209K the previous week.

For Continuing Claims, more of the same: 1.796 million is below the downwardly revised 1.798 million from the prior week, the lowest print since the week of May 30th, which included the Memorial Day holiday. A year ago, we were well above 1.9 million longer-term jobless claims (without ever hitting the psychologically important 2 million jobless claims), but we haven’t touched 1.9 million at all in 2026 so far.

Q2 Earnings Results at a Glance
The world’s largest airline, American Airlines (AAL - Free Report) , posted a whopping +400% positive earnings surprise this morning, swinging to a positive earnings result from a year ago to $0.15 per share. Revenues of $16.74 billion also beat estimates, by a decidedly less eye-popping +0.22%, but up big from the $14.39 billion reported in the year-ago quarter. Fuel costs in upcoming quarters is weighing on the share price this morning, however. For more on AAL’s earnings, click here.

T-Mobile U.S. (TMUS - Free Report) shares are trading down -5% at this hour, despite reporting a +25.7% earnings beat to $3.13 per share this morning, well ahead of the $2.84 per share posted in the year-ago quarter. Revenues came in at $22.79 billion, a +0.21% improvement from estimates and the $21.13 billion from Q2 2025. For more on TMUS’ earnings, click here.

Investment bank Blackstone (BX - Free Report) shares are flattish this morning — considered good news in the current trading climate — after surpassing earnings expectations by +14.3% to $1.52 per share. Revenues surprised by a solid +12.7% to $3.8 billion in the quarter. Shares are still down -20% year to date, but it’s nice to see the stock not being further gutted in this morning’s selloff. For more on BX’s earnings, click here.

Aerospace and defense giant Lockheed Martin (LMT - Free Report) shares are up in today’s pre-market by +5.5%, partly on increased tensions in the Middle East which may push up demand for military operation products and services, and partly on a strong Q2 performance. Earnings of $7.94 per share outpaced estimates by +9.97%, up from the $7.29 per share reported a year ago. Revenues of $20.06 billion beat forecasts by +3.26% this morning. For more on LMT’s earnings, click here.

Intel Reports After Today’s Close

Bloomberg's Loukia Gyftopoulou joins Dani Burger and Scarlet Fu on "Bloomberg Deals." Blackstone is unveiling new funds to bring private markets to main street investors.

A logo of Blackstone is pictured in Manhattan, New York City, U.S. July 29, 2025. REUTERS/Mike Segar/File Photo Purchase Licensing Rights, opens new tab

SummaryCompaniesInflows boost assets under management to $1.35 trillionNine of Blackstone's 10 best-performing holdings are tied to AIBlackstone is deepening ties with AI innovators - CEO SchwarzmanJuly 23 (Reuters) - Blackstone (BX.N), opens new tab, the world's largest ​alternative asset manager, reported rising income for the second quarter on Thursday, buoyed by growing assets ‌under management and reaping profit from a mammoth bet on artificial intelligence.

The New York-based company said inflows in the quarter pushed total assets to $1.35 trillion, while distributable earnings, or profit available to shareholders, rose 26% on a per-share basis to $1.52.

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Blackstone shares rose 2.7% ​in premarket trading. The stock has slipped 20% this year through last close.

Deals to sell a ​stake in three data centers to Digital Realty and a majority holding in power infrastructure ⁠company Sabre Industries to TPG (TPG.O), opens new tab helped push its haul from monetizing assets to $31.8 billion.

Market volatility had hampered some ​deals in the first quarter, but Blackstone picked up the pace in the second.

It also benefited from the ​listings of advertising technology company Liftoff Mobile (LFTO.O), opens new tab, a data center investment vehicle called Blackstone Digital Infrastructure Trust (BXDC.N), opens new tab and Indian office REIT Bagmane (BAGM.NS), opens new tab.

Blackstone is betting heavily on the growth of AI and is joining peer Apollo (APO.N), opens new tab in a $35 billion financing for custom chips to ​be used by Claude Code creator Anthropic.

Nine of its top 10 best-appreciating investments are linked to AI, Blackstone ​said. These include a stake in Anthropic and its data center businesses. Blackstone took data center platform QTS private for $10 billion ‌in ⁠2021.

CEO Stephen Schwarzman said the firm had decided to "lean into the artificial intelligence megatrend". He said the company becoming "a trusted partner at scale to many of the key innovators" had positioned it well for the future.

Worries that AI will disrupt software businesses have weighed in recent months on private equity and credit firms that both invested ​in and lent to those ​companies in droves. This ⁠has contributed to scrutiny on how they value assets.

Amid the upset, wealthy individuals, whose assets represent almost a quarter of the total Blackstone manages, have sought to ​withdraw money from private credit funds in particular.

The retail flagship Blackstone Private Credit Fund ​BCRED raised $1 billion ⁠in the quarter, down from $1.9 billion in the previous quarter and $3.7 billion in the same period of 2025.

Net returns from private credit improved to 0.4% from flat in the first quarter, but remained below 2.2% from a year ⁠ago.

Blackstone Private ​Equity Strategies and infrastructure fund BXINFRA, which are also offered to ​wealthy individuals, raised $2.4 billion and $861 million, respectively. Real estate investment trust BREIT, which started exercising a right to block investor redemptions in 2022, ​pulled in $1.2 billion.

Reporting by Isla Binnie in New York and Arasu Kannagi Basil in Bengaluru; Editing by Arun Koyyur

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Isla Binnie reports on how company directors and executives manage stakeholder and shareholder interests, with a focus on compensation, corporate crises, dealmaking and succession. She also covers how politics, regulation, environmental issues and the broader economy affect boardroom discussions. Isla previously covered business, politics and general news in Spain and Italy. She trained with Reuters in London and covered emerging markets debt for the International Financing Review (IFR).

BOSTON & VALLEY FORGE, Pa. & NEW YORK--(BUSINESS WIRE)--Wellington Management (“Wellington”), Vanguard, and Blackstone (NYSE: BX) today announced the launch of two new investment solutions created as part of their recently formed strategic alliance and designed to give eligible investors simplified access to professionally managed portfolios that combine public and private markets.

WVB All Markets Fund, a multi-asset solution for investors who want to simplify the integration of public and private markets. The fund will integrate Wellington’s expertise in active public equities, Vanguard’s strengths in active fixed income and index strategies, with exposure to Blackstone’s leading perpetual private markets platform. The fund will trade under the tickers WVBIX, WVBAX, and WVBMX. WVB Blackstone All Privates Fund, a professionally managed solution providing a simple access point to Blackstone’s leading perpetual private markets platform, including private equity, private infrastructure, private real estate, and private credit in a single allocation. The new closed-end funds will be available at launch to Merrill and Bank of America Private Bank clients, providing advisors on one of the industry’s leading wealth management platforms with access to the first solutions from the strategic alliance. The alliance also anticipates broad participation and adoption from the RIA community, and will explore additional distribution opportunities across the wealth ecosystem over time.

The solutions aim to help advisors build more diversified portfolios for high-net-worth and mass-affluent clients in a simplified investment framework. The funds are intended to help advisors construct long-term portfolios that seek strong performance, long-term growth, and broad portfolio diversification.

A Powerful Alliance of Investment Leaders

The WVB All Markets Fund and WVB Blackstone All Privates Fund bring together:

Wellington’s nearly 100-year heritage of active management, fundamental research, and multi-asset allocation expertise; Vanguard’s 50-year legacy of delivering high-performing active strategies and index funds1 with a relentless focus on cost efficiency and investor outcomes; and Blackstone’s 40-year track record of cycle-tested performance and leadership position as the world’s largest alternative asset manager and number one provider of private markets solutions for individuals. Together, the firms are uniquely positioned to deliver integrated investment solutions that were historically available primarily to large institutions. To expand access to their collective strengths, Wellington, Vanguard, and Blackstone are actively exploring additional product structures to support retirement savers, financial advisors, and individual investors.

Mark Sutterlin, Head of Alternative Investments, Merrill and Bank of America Private Bank, said:

“Our clients are increasingly seeking broader access to private markets and for thoughtful ways to implement these strategies over time. Our scale and integrated platforms are expanding access to differentiated investment opportunities that can support more resilient long-term portfolios.”

Jean M. Hynes, CEO and Managing Partner, Wellington Management, said:

“The launch of the WVB All Markets and WVB Blackstone All Privates Funds reflects the strength of our strategic alliance with Vanguard and Blackstone. By combining our deep active management and asset allocation capabilities with Vanguard’s scale and expertise in fixed income and indexing and Blackstone’s leadership in private markets, we are delivering thoughtfully constructed solutions designed to meet investors’ evolving needs. We are particularly pleased to introduce these funds initially through the powerful Merrill and Bank of America Private Bank platforms.”

Greg Davis, President and CIO of Vanguard, said:

“For five decades, Vanguard has worked to improve investor outcomes through disciplined active management, low-cost index strategies, and a client-focused approach. Through this collaboration with Wellington and Blackstone, we are extending that mission into integrated public and private market solutions. Launching these funds with Bank of America Private Bank and Merrill is an important first step in expanding access to those solutions.”

Jon Gray, President and COO of Blackstone, said:

“Blackstone has delivered performance in private markets for individuals for more than two decades, helping them access the premium returns, lower volatility, and diversification that private markets can provide. These new solutions bring together the performance and scale of Blackstone’s private markets platform with the exceptional strengths of Wellington and Vanguard, creating simple and comprehensive access for advisors and their clients to help build long-term wealth.”

1 For the 10-year period ending June 30, 2026, 77% of Vanguard funds outperformed the average return of their peer group, or 260 of 336 Vanguard funds. Results will vary for other time periods. Only funds with a minimum ten-year history were included in the comparison. Source: LSEG Lipper. Note that the competitive performance data shown represent past performance, which is not a guarantee of future results, and that all investments are subject to risks. For the most recent performance, visit our website at www.vanguard.com/performance.

Wellington is the investment manager of the funds. Blackstone and Vanguard are not sponsors, promoters, investment advisers, sub-advisers, underwriters, or affiliates of the funds.

Investors should consider the investment objectives, risks, charges, and expenses carefully before investing in a Wellington fund. A prospectus containing this and other information about the Funds may be obtained by calling 888-287-3403 or by visiting http://www.wvbfunds.com/. Investors should read the prospectus carefully before investing.

Distributed by Foreside Fund Services, LLC. For US investors only.

About Wellington Management

Wellington Management is one of the world’s largest independent investment management firms, serving as a trusted adviser to over 2,500 clients in more than 60 countries. The firm manages more than US$1.35 trillion, as of April 30, 2026, for pensions, endowments and foundations, insurers, family offices, fund sponsors, global wealth managers, and other clients. Wellington aspires to provide excellent service to clients through a unique combination of independence enabled by its distinctive private partnership model, diverse perspectives through its unified, multi-asset investment platform, and relentless curiosity and intellectual rigor fostered by its enduring collaborative culture. For more information, visit wellington.com.

About Vanguard

Founded in 1975, Vanguard is one of the world's leading investment management companies. The firm offers investments, advice, and retirement services to tens of millions of individual investors around the globe—directly, through workplace plans, and through financial intermediaries. Vanguard operates under a unique, investor-owned structure and adheres to a simple purpose: to give investors the best chance for investment success. For more information, visit vanguard.com.

About Blackstone

Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s over $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com.

Important disclosures

Wellington Management, Vanguard and Blackstone are not affiliated. The firms maintain a strategic alliance to deliver public-private investment solutions to investors. Statements in support of each party are made in this capacity and not as a current client or investor. While there is no direct compensation provided for these statements, each party has a conflict of interest in making statements in support of the other parties as a result of the firms’ alliance, including expense sharing thereunder.

All investing is subject to risk, including possible loss of the money you invest. Diversification does not ensure a profit or protect against a loss. Private investments involve a high degree of risk and, therefore, should be undertaken only by prospective investors capable of evaluating and bearing the risks such an investment represents. Investors in private investments generally must meet certain minimum financial qualifications that may make it unsuitable for specific market participants.

An investment in the Funds involve a high degree of risk and other considerations and, therefore, should be undertaken only by investors capable of evaluating the risks of the Funds and bearing the risks they represent. Prospective investors should carefully consider the following factors, in addition to the matters set forth elsewhere in the prospectus, prior to investing in the Funds. Below is a summary of some of the risks of investing in the Funds. For a more complete discussion of the risks of investing in each Fund, see “Types of Investments and Related Risks.” in each Fund’s prospectus. Investors should consider carefully the following risks and those risks set forth in the “Types of Investments and Related Risks” section before investing in the Funds.

There is not expected to be any secondary trading market in either Fund’s Shares. Thus, an investment in the Funds may not be suitable for investors who may need the money they invest within a specified timeframe.

Unlike many closed-end funds, the Shares are not listed on any securities exchange. Liquidity for the Shares is expected to be provided only through quarterly tender or repurchase offers, as applicable, of the Shares at net asset value (“NAV”) per share. There is no guarantee that repurchases will occur or that an investor will be able to sell all the Shares that the investor desires to sell in a tender or repurchase offer, as applicable, nor will the Shares be exchangeable for shares of any other fund. Due to these restrictions, an investor should consider the Funds to offer limited liquidity. Investing in the Shares may be speculative and involves a high degree of risk, including the risks associated with leverage. Underlying Exposure to private markets, passively managed equities and public fixed income assets shall be obtained through allocations of the Funds’ assets by the Adviser to investment vehicles (each, an “Underlying Fund”) managed by affiliates of Blackstone Inc. (together with its affiliates, “Blackstone”) or by The Vanguard Group, Inc. or its affiliates (together with its affiliates, “Vanguard”), as applicable. Interests in certain Underlying Funds are illiquid and may only be redeemed during periodic repurchase offers pursuant to which such Underlying Funds repurchase limited amounts of their outstanding shares at the Underlying Fund’s discretion. An Underlying Fund may accept less than the amount of Underlying Fund shares that the Fund tenders in a repurchase offer. There is no regular market for interests in such Underlying Funds, which typically must be sold in privately negotiated transactions. Any such sales would likely require the consent of the Underlying Fund’s manager and could occur at a discount to the stated NAV. If the Advisor determines to cause the Fund to sell its interest in an Underlying Fund, the Fund may be unable to sell such interest quickly, if at all, and could therefore be obligated to continue to hold such interest for an extended period of time, or to accept a lower price for a more expeditious sale. This document may contain certain statements deemed to be forward-looking statements. All statements, other than historical facts, contained within this document that address activities, events or developments that Wellington Management expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions and analyses made by Wellington Management in light of its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances, many of which are detailed herein. Such statements are subject to a number of assumptions, risks, uncertainties, many of which are beyond Wellington Management's control. Please note that any such statements are not guarantees of any future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.

Past results do not predict future returns.

This content is published by Wellington Management Company LLP. ©2026 Wellington Management Company LLP. All rights reserved.

NEW YORK--(BUSINESS WIRE)--Blackstone Digital Infrastructure Trust, Inc. (NYSE: BXDC) (the “Company”) announced today that it will host its second-quarter 2026 investor conference call via public webcast on August 4, 2026 at 9:00 a.m. E.T. The Company will report its second-quarter results prior to the call the morning of August 4, 2026. To register for the investor call, please use the following link: https://event.webcasts.com/starthere.jsp?ei=1767809&tp_key=25f3f3efbf For those unable to.

In its upcoming report, Blackstone Inc. (BX - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $1.31 per share, reflecting an increase of 8.3% compared to the same period last year. Revenues are forecasted to be $3.34 billion, representing a year-over-year increase of 8.7%.

The consensus EPS estimate for the quarter has been revised 2.4% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.

Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.

That said, let's delve into the average estimates of some Blackstone Inc. metrics that Wall Street analysts commonly model and monitor.

Analysts expect 'Segment Revenues- Realized Principal Investment Income' to come in at $40.06 million. The estimate points to a change of +36.1% from the year-ago quarter.

The consensus among analysts is that 'Segment Revenues- Credit & Insurance- Total Management Fees, Net' will reach $516.85 million. The estimate indicates a change of +9.8% from the prior-year quarter.

The collective assessment of analysts points to an estimated 'Segment Revenues- Private Equity- Base Management Fees' of $684.68 million. The estimate indicates a year-over-year change of +13.2%.

Analysts forecast 'Segment Revenues- Multi-Asset Investing- Total Management Fees, Net' to reach $152.81 million. The estimate suggests a change of +15.9% year over year.

Analysts predict that the 'Fee-Earning Assets Under Management Rollforward - Private Equity' will reach $267.57 billion. Compared to the current estimate, the company reported $232.16 billion in the same quarter of the previous year.

The combined assessment of analysts suggests that 'Fee-Earning Assets Under Management Rollforward - Real Estate' will likely reach $278.73 billion. Compared to the present estimate, the company reported $285.83 billion in the same quarter last year.

Based on the collective assessment of analysts, 'Fee-Earning Assets Under Management Rollforward - Hedge Fund Solutions (Multi-Asset Investing)' should arrive at $92.81 billion. Compared to the current estimate, the company reported $80.20 billion in the same quarter of the previous year.

It is projected by analysts that the 'Fee-Earning Assets Under Management Rollforward - Credit & Insurance' will reach $323.59 billion. The estimate compares to the year-ago value of $288.93 billion.

Analysts' assessment points toward 'Fee-Earning Assets Under Management' reaching $962.31 billion. Compared to the present estimate, the company reported $887.11 billion in the same quarter last year.

The consensus estimate for 'Total Assets Under Management - Hedge Fund Solutions (Multi-Asset Investing)' stands at $103.36 billion. The estimate compares to the year-ago value of $90.01 billion.

According to the collective judgment of analysts, 'Total Assets Under Management - Credit & Insurance' should come in at $469.39 billion. Compared to the present estimate, the company reported $407.30 billion in the same quarter last year.

The average prediction of analysts places 'Total Assets Under Management - Real Estate' at $318.42 billion. The estimate is in contrast to the year-ago figure of $324.99 billion.

View all Key Company Metrics for Blackstone Inc. here>>>

Over the past month, shares of Blackstone Inc. have returned +2.5% versus the Zacks S&P 500 composite's +0.6% change. Currently, BX carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Blackstone Inc. (BX - Free Report) , which belongs to the Zacks Financial - Miscellaneous Services industry, could be a great candidate to consider.

This investment manager has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 7.94%.

For the most recent quarter, Blackstone Inc. was expected to post earnings of $1.35 per share, but it reported $1.36 per share instead, representing a surprise of 0.74%. For the previous quarter, the consensus estimate was $1.52 per share, while it actually produced $1.75 per share, a surprise of 15.13%.

Price and EPS Surprise

Thanks in part to this history, there has been a favorable change in earnings estimates for Blackstone Inc. lately. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the stock is positive, which is a great indicator of an earnings beat, particularly when combined with its solid Zacks Rank.

Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Blackstone Inc. has an Earnings ESP of +0.11% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #3 (Hold), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on July 23, 2026.

When the Earnings ESP comes up negative, investors should note that this will reduce the predictive power of the metric. But, a negative value is not indicative of a stock's earnings miss.

Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.

Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Blackstone Inc. (BX - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 23. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis investment manager is expected to post quarterly earnings of $1.32 per share in its upcoming report, which represents a year-over-year change of +9.1%.

Revenues are expected to be $3.36 billion, up 9.4% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.02% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Blackstone Inc.?For Blackstone Inc., the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.11%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that Blackstone Inc. will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Blackstone Inc. would post earnings of $1.35 per share when it actually produced earnings of $1.36, delivering a surprise of +0.74%.

Over the last four quarters, the company has beaten consensus EPS estimates four times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Blackstone Inc. appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Expected Results of an Industry PlayerAmong the stocks in the Zacks Financial - Miscellaneous Services industry, Blackstone Inc. (BX - Free Report) , is soon expected to post earnings of $1.32 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of +9.1%. This quarter's revenue is expected to be $3.36 billion, up 9.4% from the year-ago quarter.

The consensus EPS estimate for Blackstone Inc. has remained unchanged over the last 30 days. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +0.11%.

When combined with a Zacks Rank of #3 (Hold), this Earnings ESP indicates that Blackstone Inc. will most likely beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

SAN FRANCISCO--(BUSINESS WIRE)--Today, Anthropic, Blackstone, and Hellman & Friedman introduced Ode with Anthropic (“Ode”), the AI services firm announced earlier this year, now launching under its official name and brand. Ode is a standalone company that combines Anthropic's frontier AI models, a team of experienced AI engineers and operators, and the backing of a consortium of leading investors. Alongside the founding partners, the investor consortium includes Goldman Sachs, General Atlan.

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SummaryBlackstone Inc. is a high-quality asset manager trading at an attractive valuation, offering a compelling Buy opportunity ahead of Q2 earnings.BX benefits from strong industry tailwinds—higher inflation, global wealth growth, demographic shifts, and AI infrastructure exposure—driving robust capital inflows and AUM growth.BX has a history of outperforming conservative analyst EPS estimates, with potential for double-digit earnings growth and positive Q2 surprises.BX trades at 16–20x forward earnings, a discount to its historical median, and offers a 3.8% yield with long-term dividend growth potential.Looking for a helping hand in the market? Members of Cash Flow Club get exclusive ideas and guidance to navigate any climate. Learn More » Roman Tiraspolsky/iStock Editorial via Getty Images

Article Thesis Blackstone Inc. (BX) is a high-quality asset manager that offers a nice dividend yield and that currently trades at an undemanding valuation -- which is why I think Blackstone is a Buy

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of BX, BN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Jon Gray talked to interns on July 8. Blackstone Despite his constant travel and packed schedule, Blackstone's Jon Gray tries to respond to every email before he goes to bed, even if it's just to say he'll look at it more carefully later.

He advised summer interns that adopting a similar habit will probably serve them well.

"Responsiveness is a habit that you can learn that wins you a lot of positive affirmation," Gray, the firm's president and chief operating officer, said Wednesday.

"If you respond to people in a timely way, it shows you value them," he said.

Responsiveness was just one part of Gray's broader playbook for building a career at Blackstone. Speaking to blazer-donning interns in the firm's New York headquarters and on Zoom around the world, he said success comes from combining hard work, entrepreneurial thinking, and kindness.

"You're giving huge effort, you're willing to take a little risk as an entrepreneur, but you're treating people in a nice way. To me, that's a winning formula," Gray told the room, as some jotted down his words in black notebooks.

Gray started at Blackstone when he was only a few years older than the majority of interns he was talking to. He joined as a 22-year-old college graduate, rose to prominence through the real estate investment group, and became president in 2018.

The firm's stature and scope have ballooned since then. Blackstone now employs more than 5,000 people, manages $1.3 trillion in assets, and accepted fewer than 1% of interns this year. Blackstone had more than 170 interns last summer and declined to comment on this year's class size.

When it comes to hustle, Gray advised interns to "work harder and care more," because those he has seen achieve the most have tended to go the extra mile, whether that's doing additional diligence or arriving a bit earlier.

Entrepreneurship can also take many forms, Gray said, like streamlining a report using AI. (Every intern, regardless of what group they're working in, will see how important AI is "in almost every product where we're deploying capital today.")

For Gray, being nice doesn't mean being any less ambitious or demanding, and it usually boosts business. So much of what Blackstone does — raising capital and executing investments, for example — is a "team sport," he said.

Beyond advice for those at the very beginning of their careers, Gray shared the defining characteristic he looks for in potential leaders: an "eye of the tiger, will to win."

"One quality above all else: it is that drive and hunger. There's just this sense that they want it," he said.

Gray added that the hunger could come from anywhere — maybe someone played competitive sports or is a first-generation citizen. Both Gray and CEO Steve Schwarzman, who spoke to interns on their first day, said that intellectual "flexibility" is also crucial, especially at Blackstone, which prides itself on an entrepreneurial spirit.

"Things happen in the real world. You've got to be able to figure it out," Schwarzman told interns on June 1.

For all the changes in the world, Gray emphasized the importance of not chasing hot sectors and remaining squarely focused on Blackstone's "north star" of delivering returns for customers. Gray, a dual English and economics major in college, said Walter Isaacson's biography of Steve Jobs has had a profound impact on his life philosophy precisely because it reinforced that belief. He remembered, when reading, that even though Jobs was a brilliant marketer, simply creating amazing products likely would have been enough to make him successful.

"We are an investment firm, and we must deliver for our customers," Gray said. "Always focus on your core product. Don't forget that."

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Wall Street Exclusive

NEW YORK & HOUSTON--(BUSINESS WIRE)--Blackstone (NYSE: BX) today announced that funds managed by Blackstone Energy Transition Partners (“Blackstone”) have entered into a definitive agreement to acquire Dresser Utility Solutions (“Dresser”), a premier provider of mission-critical natural gas and water measurement, control and infrastructure equipment solutions, from First Reserve. This represents the first investment of the most recent vintage of Blackstone's private equity energy transition veh.

A logo of Blackstone is pictured in Manhattan, New York City, U.S. July 29, 2025. REUTERS/Mike Segar/File Photo Purchase Licensing Rights, opens new tab

SummaryCompaniesBinding bids due in September, sources sayStake size not finalised, but could be 50%, one source saysProcess ongoing, may not result in a dealHANOI/SINGAPORE, July 3 (Reuters) - Blackstone, CVC Capital Partners and Japan's MUFG are among bidders for a stake in Vietnamese fintech firm MoMo as it presses ahead with a partial sale, two people with direct ​knowledge of the matter said.

Binding bids are due in September, added the people, ​who declined to be named as the matter is private.

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The stake size ⁠has not been finalised, one of the people said, adding that the process ​could lead to the sale of a significant holding. A third person with knowledge of ​the matter said the stake on offer could be as much as 50%.

MoMo, CVC and MUFG did not immediately respond to requests for comment, while Blackstone had no comment.

COMPANY COULD BE VALUED AT MORE ​THAN $2 BILLIONFounded in 2010, MoMo has grown from a mobile payments platform into a ​financial services app spanning payments, consumer lending, insurance, savings, investment and merchant tools in Vietnam's fast-growing economy.

Reuters ‌reported ⁠in April that MoMo was exploring strategic options, including bringing in new investors, that could value the company at more than $2 billion.

The digital payments company, which has been profitable since 2024, engaged with advisors to run the process after receiving interest from strategic and ​financial investors.

The process remains ​ongoing and may not ⁠result in a deal, the people said.

MoMo said it currently serves more than 30 million users and has built a broad ​nationwide network for digital transactions.

The investor interest comes as Vietnam's digital ​financial services ⁠market expands, helped by the growth of cashless payments and wider use of online financial products and services.

MoMo completed its last major fundraising round in 2021, when it said it had ⁠raised $200 ​million from investors led by Mizuho Bank.

The company said ​last year it was expanding services for consumers and small businesses as part of a broader digital finance ​push.

Reporting by Phuong Nguyen in Hanoi and Yantoultra Ngui in Singapore; Editing by Jan Harvey

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Yantoultra Ngui is the Southeast Asia Deals Correspondent of Reuters in Singapore, covering M&A and capital market activities in a region that is fast emerging as one of the world’s biggest economies. He previously was a reporter at Bloomberg and The Wall Street Journal (WSJ). Notably, he was part of WSJ's team that covered the financial scandal at Malaysian state fund 1MDB, and that won SOPA Excellence in Breaking News award for the coverage of the assassination of Kim Jong Nam, the half-brother of North Korea's leader Kim Jong Un, in Malaysia in 2018. Yantoultra graduated with an MBA in Finance from Universiti Putra Malaysia (UPM) in 2010.

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For most of the post-2008 era, Oppenheimer’s Chris Kotowski was the guy telling you to keep buying the big banks. He waved off the 2011 eurozone panic, the 2016 energy blowup, COVID, and the 2022 rate hikes. On June 30, 2026, he flipped.

Kotowski cut Goldman Sachs (NYSE:GS | GS Price Prediction), Morgan Stanley (NYSE:MS), Bank of America, and Citigroup (NYSE:C) in a single note, with Goldman moving to Underperform from Perform. Oppenheimer simultaneously nudged investors toward Ares, Blackstone, and KKR, plus commercial names US Bancorp and PNC.

The math is what changed his mind. “I thought they were systematically undervalued. Now I think the opposite is the case, quite honestly,” Kotowski told CNBC. “The banks historically would trade around 70 to 75% relative P/E… the investment banks are 107%. So like a 50% premium to their historic valuations.” Commercial banks sit at 78%, which is closer to normal but still not cheap.

The price action confirms it. Goldman is up 16.16% year to date and 45.75% over the past year. Morgan Stanley is up 51.97% over twelve months. Citigroup has ripped 68.13%. The fundamentals justified some of that. Goldman posted Q1 2026 EPS of $17.55 with investment banking fees up 48% year over year to $2.84 billion, per its first-quarter release. Citi crossed $7 billion in Markets revenue for the first time. Great numbers. Priced in.

Why the yield curve argument is a red herring Bulls have leaned on a steepening curve as the next leg for bank NII. Kotowski is not buying it. His point: banks like Bank of America are still enjoying tailwinds from ultra-low-coupon securities they bought five or six years ago rolling off and getting reinvested at higher yields. That mechanical benefit runs regardless of what the two-year does next.

The risk cuts the other way. BofA CEO Brian Moynihan warned that a 100 basis point decline in rates could shave $2 billion off net interest income. Meanwhile, Goldman’s CET1 ratio slipped to 12.5% from 14.3% as capital got returned and put to work. That is a lot of operating leverage right when the cycle looks late.

The same investor newsletter that told subscribers to buy Amazon in 2002, Netflix in 2004, and Nvidia in 2005 still publishes two new stock picks every month. Over 23 years, Motley Fool's Stock Advisor has more than quadrupled the S&P 500. New members get this month's picks, the Top 10 Rankings, and a 30-day money-back guarantee. Click here to unlock their next top stocks while new members are still being accepted.

The Blackstone and KKR pitch on sale Blackstone (NYSE:BX) is down 22.07% year to date. KKR (NYSE:KKR) is down 27.52%. Kotowski’s phrasing: “In the banks, you can, for the most part, take your money and run with impunity. And the alts are on sale.”

The drawdowns look painful until you look under the hood. Blackstone reported Q1 2026 AUM of $1.3 trillion, up 12% year over year, with $68.5 billion in quarterly inflows and fee related earnings up 23% to $1.55 billion. Perpetual capital, the long-duration base that pays fees regardless of exit windows, is now $539.7 billion, or 48% of Fee-Earning AUM.

KKR looks similar. Q1 adjusted EPS of $1.39 beat by 10.28%, management fees rose 30% to $1.19 billion, and LTM capital deployed hit a record $97.4 billion. The K-Series wealth vehicles nearly doubled AUM to $38 billion, which is the retail-access flywheel every alt manager is chasing.

Valuation reflects the beating. KKR now trades at a forward P/E of 15x versus a trailing 31x. Blackstone’s forward multiple sits at 19x. Both remain expensive in absolute terms, but if you believe fee-based, perpetual-capital compounders should trade at a premium to cyclical intermediaries, the spread just narrowed dramatically.

What Kotowski is really saying The bear case on alts, private credit redemption caps at Apollo and Ares, the Bank of England’s stress test of 46 firms, Elizabeth Warren’s data-center inquiries, is real. But Kotowski is arguing that the market has already discounted those risks in the alt names while pricing the banks for perfection. He was right for 15 years about undervaluation, and now he sees it inverted.

If You'd Bought Amazon When the Motley Fool Said To…In September 2002, Stock Advisor told subscribers to buy Amazon. In December 2004, Netflix. In April 2005, Nvidia. The newsletter still publishes two new stock picks every month — and over 23 years, has more than quadrupled the S&P 500. Here's how to get this month's picks:

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Increases Ownership in New, High-Quality, Fully-Leased Hyperscale Assets in Top U.S. Market June 29, 2026 16:04 ET  | Source: Digital Realty Trust, L.P.

AUSTIN, Texas and NEW YORK, June 29, 2026 (GLOBE NEWSWIRE) -- Digital Realty (NYSE: DLR), the world’s largest cloud- and carrier-neutral data center platform, and Blackstone Inc. (NYSE: BX) today announced that Digital Realty has agreed to purchase from Blackstone-affiliated funds managed by Real Estate, Infrastructure and Tactical Opportunities (“Blackstone”) a stake in three fully leased data centers containing 288 megawatts of total IT capacity in Northern Virginia at a gross value of $7.8 billion, reflecting an expected initial stabilized capitalization rate of over 6.5%. Total consideration paid to Blackstone for their blended 64% equity interest in the assets will be $3.5 billion, including $1.2 billion of cash and $2.3 billion in shares of Digital Realty, based on the last reported sale price of the company’s common stock on the New York Stock Exchange on June 29, 2026. The portfolio comprises two data centers in Manassas and one on the Digital Dulles campus in Sterling, each with 96 megawatts of IT capacity, that are 100% leased to three distinct investment grade hyperscale customers. The purchase is expected to be completed on June 30, 2026, and is subject to customary closing conditions.

“We have developed a strong partnership with Blackstone through the successful ongoing development of these assets, and we continue to work together across the remaining data center investments in our joint ventures in Northern Virginia, Paris and Frankfurt,” said Greg Wright, Chief Investment Officer of Digital Realty. “This transaction reflects the next phase of that relationship, allowing us to increase our ownership in a portfolio of fully leased, high quality hyperscale assets that extend our runway for growth and pipeline of product for the continued expansion of our strategic private capital platform.”

Mike Forman, Global Head of Digital Infrastructure for Blackstone Real Estate and Greg Blank, Global Head of Digital Infrastructure for Blackstone Infrastructure, said: “We are thrilled with this transaction and the early success of our joint venture with Digital Realty. The Digital Realty team has been exceptional to work with, and we look forward to our continued partnership. The demand for digital infrastructure is even stronger today than when we established this joint venture in 2023, and we have deep conviction in the opportunity ahead.”

Digital Realty agreed to purchase Blackstone’s 80% interest in two 96 megawatt data centers in Manassas, Virginia and a 50% interest in one 96 megawatt data center in Sterling, Virginia for $7.8 billion, at 100% share, including assumed debt and remaining capex to complete the ongoing development. Two of the data centers are expected to stabilize in the first half of 2027, with the third anticipated to stabilize in the first half of 2028. Through this transaction, Digital Realty will increase its exposure to new capacity in the world’s largest data center market, supported by 15-year leases with a blended average AA- customer credit rating and 3.6% annual rent escalators, that are expected to enhance the Company’s growth and visibility.

“This transaction is expected to be accretive to Core FFO per share in each of 2027 and 2028, as development is completed and rents commence,” said Matt Mercier, Chief Financial Officer of Digital Realty. “We also expect it to be accretive to contractual organic rent growth and portfolio quality, given long term leases with premier hyperscale customers in newly constructed assets, in the largest and most sought-after data center market. We believe that our execution to date and the recently announced strategic transactions, position Digital Realty to extend its growth trajectory.”

About Digital Realty
Digital Realty brings companies and data together by delivering the full spectrum of data center, colocation, and interconnection solutions. PlatformDIGITAL®, the company’s global data center platform, provides customers with a secure data meeting place and a proven Pervasive Datacenter Architecture (PDx®) solution methodology for powering innovation, from cloud and digital transformation to emerging technologies like artificial intelligence (AI), and efficiently managing Data Gravity challenges. Digital Realty gives customers access to the connected data communities that matter to them through a global footprint of 300+ facilities in 55+ metros across 30+ countries on six continents. To learn more, visit digitalrealty.com or follow us on LinkedIn and X.

About Blackstone
Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s over $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

For Additional Information

Investor Relations
Jordan Sadler / Jim Huseby
Digital Realty
+1 737 281 0101
[email protected]

Media Contact
Helen Bleasdale
Digital Realty
+1 737 267 6822
[email protected]

Jeffrey Kauth
Blackstone
+1 212 583 5395
[email protected]

Paula Chirhart
Blackstone
+1 646 583 6684
[email protected]

Safe Harbor Statement

This press release contains forward-looking statements based on current expectations, forecasts, and assumptions that involve risks and uncertainties which may cause actual results to differ materially from those described. These include statements related to the Blackstone acquisition, completion of development and stabilization, expected benefits, and the company’s strategy. For a description of these risks and uncertainties, please refer to the company’s filings with the U.S. Securities and Exchange Commission. The company undertakes no obligation to update any forward-looking statements.

File Photo: A car drives past a building of the Digital Realty Data Center in Ashburn, Virginia, U.S., March 17, 2025. REUTERS/Leah Millis/File Photo Purchase Licensing Rights, opens new tab

CompaniesJune 29 (Reuters) - Digital Realty (DLR.N), opens new tab said on Monday ​it would acquire a majority ‌stake in three fully leased Northern Virginia data centers from ​Blackstone-managed funds (BX.N), opens new tab in a deal ​valuing the assets at $7.8 billion.

The ⁠acquisition strengthens Digital Realty's ​position in Northern Virginia, the ​world's largest data center market, where demand for capacity has surged as ​cloud computing and AI ​drive higher infrastructure needs.

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Under the deal, ‌which ⁠is expected to close on June 30, Digital Realty will pay Blackstone-affiliated funds $3.5 billion ​for their ​blended ⁠64% equity interest.

The consideration includes $1.2 billion in ​cash and $2.3 billion in ​Digital ⁠Realty shares, based on the company's last reported share ⁠price ​on June 29.

Reporting ​by Jaspreet Singh in Bengaluru; Editing by ​Vijay Kishore and Maju Samuel

Our Standards: The Thomson Reuters Trust Principles., opens new tab

A logo of Blackstone is pictured in Manhattan, New York City, U.S. July 29, 2025. REUTERS/Mike Segar//File Photo Purchase Licensing Rights, opens new tab

June 23 (Reuters) - Blackstone (BX.N), opens new tab is planning to ​invest $30 billion in Japan's ‌AI data centers over the next three to five years, its ​president and chief operating ​officer Jonathan Gray told Nikkei ⁠in a recent interview, the ​business daily reported on Tuesday.

The ​world's largest alternative asset manager is in discussions to develop facilities exceeding ​1 gigawatt in the ​country, the report said, citing Gray.

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Blackstone did ‌not ⁠immediately respond to a Reuters request for comment. It also plans to accelerate its ​private equity ​investments ⁠in Japan, the company said.

Earlier this month, Blackstone ​had raised $13.1 billion for its ​Asia ⁠private equity fund, exceeding its initial target and marking its ⁠largest ​such fundraise in ​the region.

Reporting by Jasmeen Ara Shaikh in ​Bengaluru; Editing by Vijay Kishore

Our Standards: The Thomson Reuters Trust Principles., opens new tab

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Significantly strengthens the company’s balance sheet and provides $150 million of new capital to advance Medallia’s $500 million commitment to innovation, including AI transformation, in the coming years

TYSONS, Va.--(BUSINESS WIRE)--Medallia, the global leader in customer and employee experience, today announced that it has entered into a recapitalization agreement with its lenders that will strengthen its financial foundation for long-term growth. The transaction will significantly reduce Medallia’s outstanding debt and provide $150 million of new capital, positioning the company to accelerate AI-driven innovation and customer-focused product investment. Upon completion of the transaction, Medallia will change ownership from Thoma Bravo to an investor group led by Blackstone, Apollo, and FS KKR Capital Corp (FSK).

Medallia has been at the center of enterprise experience management since its founding in 2001 – going public on the New York Stock Exchange in 2019 before being taken private in 2021. Eighteen months ago, a new executive team joined to reinvent the business for an AI-first market, modernizing operations, and sharpening strategic focus while maintaining strong profitability. Today's transaction advances Medallia's existing $500 million commitment to innovation over the next few years and provides the capital to accelerate it, moving the company beyond traditional experience management into a more intelligent, predictive, and automated platform.

“Today's announcement marks a significant milestone towards the next generation of AI-led enterprise experience management,” said Mark Bishof, CEO of Medallia. “The transformation of Medallia has been well underway – what changes today is the pace. With a strengthened balance sheet and $150 million in new capital, we are accelerating our commitment to invest over $500 million in products and services for our customers over the next few years.”

The committed support of Medallia’s new owners reflects strong conviction in the company’s leadership team, platform strategy, and long-term market opportunity. In addition to new capital, Medallia will benefit from the firms’ collective expertise in scaling businesses globally, strategic relationships, and global resources to enhance Medallia’s platform capabilities and market leadership.

“Medallia is a profitable business with a strong track record serving many of the largest companies in the world,” said Brad Marshall, Global Head of Private Credit Strategies at Blackstone. “We’re confident in the business under this new capital structure and look forward to supporting its plans to invest in this next phase of innovation and growth.”

Medallia plans to expand its generative AI and automation capabilities across its platform, enabling organizations to more quickly identify emerging patterns, predict business impact, and orchestrate intelligent actions at enterprise scale. Building on its Frontline-Ready AITM foundation, Medallia also plans to further evolve its platform with deeper integrations across contact center, CRM, workflow, and emerging agentic AI ecosystems. Leading organizations including Mayo Clinic Laboratories, Mazda North America, and Santander Bank are among the customers who recently shared how Medallia powers their experience management programs. The company's planned platform enhancements will empower enterprises to respond to their customer and employee needs with greater speed, precision, and operational impact.

The company expects to close the transaction prior to the end of the year, subject to customary closing conditions and regulatory approvals. As Medallia works with its financial partners to close the transaction, operations remain uninterrupted, with no anticipated impact or disruption to the company’s customers, employees, or partners.

About Medallia

Medallia is the global leader in customer and employee experience, trusted by the world’s most iconic brands — including 7 of the Fortune 10. Medallia’s AI-driven platform helps enterprise organizations turn billions of feedback signals into clear, prioritized actions. With deep domain expertise, a powerful partner ecosystem, and consistent leadership recognition from top industry analysts, Medallia transforms customer experience into a strategic driver of business growth. Learn more at www.medallia.com.

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Key Takeaways BoE launches first private-market stress test with 46 firms, including APO, ARES, BX, KKR and JPM.BoE Stress test assumes a 4% U.K. GDP drop, 7% inflation, 7% interest rates and a 35% equity market fall.Initial findings will be shared by 2026-end, with a second test early next year and conclusions in 2027. The Bank of England (“BoE”) has turned its attention to one of global finance’s fastest-growing sectors, private markets. The BoE has launched a “doomsday” stress test designed to determine whether the rapidly expanding private markets sector can withstand a severe global financial shock. The exercise, described as the first of its kind worldwide, reflects growing regulatory concerns over the increasing role of private credit and private equity in the global financial system.

In the stress test, 46 firms have agreed to take part, including alternative asset managers Apollo Global Management Inc. (APO - Free Report) , Ares Management Corp. (ARES - Free Report) , Blackstone Inc. (BX - Free Report) and KKR & Co. (KKR - Free Report) . Also, major banks, which provide leverage across the private markets ecosystem like Barclays and JPMorgan (JPM - Free Report) , and asset managers such as BlackRock have also participated.

Here’s Why Private Markets Are Under the SpotlightPrivate markets, including private equity, private credit and other non-public investments, have expanded rapidly over the past decade, attracting trillions of dollars from institutional investors seeking higher returns.

But scale changes the risk profile. With global private-market assets estimated at $16 trillion, the sector has become too large to ignore. Regulators are increasingly focused on its limited transparency, complex valuation practices and growing links to the broader financial system. Unlike publicly traded assets, private investments can be difficult to price and may become harder to sell during periods of market stress.

The Financial Stability Board has recently warned of emerging stresses in private credit, which often involves opaque, non-bank lending to mid-sized companies. The BoE is concerned that this opacity could amplify isolated failures into wider financial instability, especially given private equity-backed firms’ significant role in U.K. employment and corporate debt. 

The BoE concern is not that private markets are inherently fragile, but that they have not yet been tested through a prolonged downturn at their current scale. Much of the industry’s growth took place during a period of low interest rates, abundant liquidity and strong fundraising. A sustained environment of higher borrowing costs, weaker valuations and tighter refinancing conditions could reveal vulnerabilities that have been hidden in more favorable market conditions.

The BoE’s Stress Test ScenarioThe BoE's private markets’ stress test is built around a severe but plausible five-year global recession designed to assess how private equity firms, private credit managers, banks and institutional investors would respond to extreme financial stress. Rather than evaluating the resilience of individual firms, the exercise focuses on identifying vulnerabilities that could threaten the stability of the broader financial system.

The test scenario assumes that U.K. interest rates and inflation both rise to 7% in the first year, while the economy subsequently enters a deep recession, with UK GDP contracting 4% in the second year. During the recovery period, unemployment increases to 7.5%, U.K. equity markets fall 35%, leveraged loan spreads widen by 400 basis points and market volatility rises sharply, with the volatility index reaching around 40. Although the economy is expected to recover, growth remains weak over the following three years, averaging 0.7% annually.

In addition to macroeconomic shocks, the scenario incorporates artificial intelligence (AI)-related risks by assuming higher energy costs, shortages of advanced semiconductors and slower adoption of AI technologies. These factors are intended to test how reduced productivity gains and disruptions to AI-dependent sectors could affect investment portfolios and financial stability.

Participants like Apollo Global, Ares Management, Blackrock, KKR & Co. and JPMorgan are required to evaluate how they would respond to the stress scenario, submit their expected actions and portfolio adjustments, and review market-wide aggregated feedback provided by the BoE. The BoE will then revise and resubmit their responses in a second round.

The BoE will publish only aggregate results, using the exercise to better understand how stress in the private markets could transmit through the broader financial system. Initial findings from the information-gathering phase will be included in the July Financial Stability Report. Interim results from Round 1 will be released later in 2026, with the final report expected in 2027.

Final TakeawaysThe BoE’s stress test marks a significant step in expanding regulatory oversight beyond traditional banks to the rapidly growing private markets sector. By simulating an extended period of economic stress, higher interest rates, declining asset values and AI-related disruptions, the exercise aims to identify how risks could spread through an increasingly interconnected financial system.

While the test is not intended to assess the resilience of individual firms, the participation of major firms like BlackRock, KKR & Co., Ares Management, Apollo Global and JPMorgan, the stress test may deliver critical insights into how vulnerable the system may be under severe strain.

As private equity and private credit continue to play a larger role in global finance, the results of this pioneering exercise could shape future regulatory frameworks, risk management practices and transparency standards for the industry. Ultimately, the findings will help regulators better understand whether private markets can remain resilient under extreme conditions or whether additional safeguards are needed to protect broader financial stability.

Two of the largest asset managers on Wall Street are rewriting the rules of AI infrastructure financing, and the deal they just made public is sure to have a substantial impact on the industry as a whole. What does it mean in particular for Micron (MU 5.50%) and Nvidia (NVDA 2.16%), two of the biggest winners of the AI build-out thus far? 

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The money keeps pouring into AI Apollo Global Management (APO +1.74%) and Blackstone (BX +2.60%) finalized a $35 billion financing deal to aid Anthropic in its expansion efforts. The agreement is one of the largest private credit deals ever.

The deal is structured using a Special Purpose Vehicle (SPV) to purchase Tensor Processing Units (TPUs) from Alphabet's Google. Those will then be leased to Anthropic. Through this structure, Anthropic will keep the hardware off its balance sheet. This will be a useful financial tool as Anthropic prepares for its initial public offering. Those TPUs will be deployed in data centers starting sometime this year and will expand Anthropic's compute capacity by 1 gigawatt (GW).

Broadcom is also an integral part of the deal and is providing a crucial credit endorsement through residual value guarantees for $30 billion in debt tranches. Apollo's Atlas SP Partners contributed an additional $800 million in equity.

Broadcom CEO Hock Tan explained that the company is building an "AI XPV platform" with Apollo, Blackstone, and other top investors to deploy over 20 GW of compute through 2028 for both Anthropic and OpenAI.

Image source: The Motley Fool.

Nvidia's making room at the top This isn't a great deal for Nvidia. The entire agreement is built on Google TPUs, not Nvidia's GPUs. Anthropic is deepening its relationship with Google. Will this ruin Nvidia's dominance? Absolutely not, but it does carve out space for another winner.

Micron, on the other hand, could benefit tremendously. Regardless of which company's accelerators are providing the computing capacity, AI data centers can't operate effectively without scads of high-bandwidth memory. Micron is one of just three companies that can make it at scale. As the GPU versus TPU debate continues, Micron won't have to pick a side. It will supply memory to both. As such, this deal should be yet another boon for Micron's shareholders.

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The AI build-out will require an additional $1.5 trillion in outside financing through 2028, according to Morgan Stanley. Private credit will undoubtedly play a major role. This Apollo and Blackstone deal is just the beginning and truly a template for what is to come in terms of innovative deal structures. Investors in companies such as Nvidia and Micron should take away two things: Competition among semiconductor companies is intense, and the demand for memory is only increasing.

Catie Hogan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Blackstone, Broadcom, Micron Technology, and Nvidia. The Motley Fool has a disclosure policy.