Alternative asset managers rally after Blackstone earnings  

By Reuters News

** Shares of alternative asset managers gain ground on Thursday after Blackstone kicked off the earnings season for the industry

** Ares Management ARES.N up 5%, Blackstone BX.N up 6.8%, TPG TPG.O up 4.3%, Carlyle Group CG.O up 4.8%, KKR KKR.N up 2.6%, Blue Owl Capital OWL.N up 4.3%, and Apollo Global Management APO.N up 1.7%

** BX struck an upbeat tone on monetization activity in Q4 after beating Q3 profit estimates; co also signaled strong demand across investor types

** Investor sentiment had been weak for alternative asset managers heading into Q3 earnings, given concerns around rising borrowing costs and choppy market backdrop

** TD Cowen analysts say BX commentary should help bolster sentiment for alts, pointing out OWL, TPG, APO and ARES

https://www.reuters.com/graphics/AUTOMATED-20261021/ALT-ASSET-MGRS-INDEX-COMPARISON-YTD/myvmryalopr/chart.png

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