Shares of Blackstone traded higher after the company beat earnings estimates. Investors are allocating capital to Blackstone funds, boosting future profits.
The Blackstone Group (BX) is said to be in the process of selling its Invitation Homes unit through an IPO transaction. This could send shares much higher.
Blackstone hedge fund transactions were snubbed by Wall Street. But although the hedge fund industry is out of favor, these deals will help BX grow profits.