The Connection
From our unique private market vantage, we can draw lines between macro, market and investment trends and help investors see how it all connects.
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What to Expect When You Are Expecting
by Joe Zidle, Chief Investment Strategist, Private Wealth Solutions
We knew we would eventually reach normalization, allowing traditional economic indicators to regain their predictive power. Growth has slowed from its rapid pace last year, and some cracks are beginning to appear.
Private Credit: From Mid-Market to Real Economy Financier
by Gilles Dellaert, Global Head of Blackstone Credit & Insurance (BXCI)
With contribution from Sarah Husband, Principal, BXCI
A powerful shift is underway in credit markets as private lenders partner with banks to finance real economy assets. This long-term secular trend has helped private credit markets expand rapidly, but we believe that we’re still in its early innings.
Through the Private Market Lens
Blackstone’s global portfolio spans more than 230 companies employing over 700,000 people. Each quarter, led by Prakash Melwani, CIO of Corporate Private Equity, we survey a sample of these companies’ CEOs on the current business environment and what they see on the horizon. Explore a few key findings from our Q2 2024 survey of 92 Blackstone portfolio company CEOs (59 US CEOs).
Labor market conditions appear to be normalizing, with fewer CEOs finding it challenging to hire workers
Percent of CEOs Facing Hiring Challenges1,2
CEOs expect inflation to continue moderating
CEOs don’t see the economy tipping to a recession
While we see clear signs that the US economy is slowing, thus far our CEOs do not foresee an imminent recession. However, we will continue to monitor this data vigilantly for any changes in their outlook.
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Authors
Joe Zidle
Chief Investment Strategist, Private Wealth Solutions
David Stubbs
Managing Director, Private Wealth Solutions
Anders Nielsen
Managing Director, Private Wealth Solutions
Kristin Roesch
Vice President, Private Wealth Solutions
Anav Bagla
Analyst, Private Wealth Solutions
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The views expressed in this commentary are the personal views of the authors and do not necessarily reflect the views of Blackstone. The views expressed reflect the current views of the authors as of the date hereof, and neither the authors nor Blackstone undertake any responsibility to advise you of any changes in the views expressed herein.
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Tax considerations, margin requirements, commissions and other transaction costs may significantly affect the economic consequences of any transaction concepts referenced in this commentary and should be reviewed carefully with one’s investment and tax advisors. All information in this commentary is believed to be reliable as of the date on which this commentary was issued, and has been obtained from public sources believed to be reliable. No representation or warranty, either express or implied, is provided in relation to the accuracy or completeness of the information contained herein.
This commentary does not constitute an offer to sell any securities or the solicitation of an offer to purchase any securities. This commentary discusses broad market, industry or sector trends, or other general economic, market or political conditions and has not been provided in a fiduciary capacity under ERISA and should not be construed as research, investment advice, or any investment recommendation. Past performance does not predict future returns.
