5 Best S&P 500 Stocks to Buy for Dividends

3. Blackstone Inc. (NYSE:BX)

Number of Hedge Fund Holders: 84

Dividend Yield as of June 23: 4.14%

Blackstone Inc. (NYSE:BX) is the world’s largest alternative asset manager, with more than $1.3 trillion in AUM. The company serves institutional and individual investors by building strong businesses that deliver lasting value.

On June 16, Blackstone Inc. (NYSE:BX) announced the launch of SablePointe Credit Strategies, a new platform to support origination, underwriting, and portfolio management in asset-based lending. The strategic move reflects the company’s ambitions to push its way into the lending business, where banks traditionally dominate.

The Georgia-based SablePointe will initially support Blackstone Credit & Insurance (BXCI) asset-based and first-out direct lending credit strategies, with plans to expand into additional specialty asset classes down the line. The platform bolsters BXCI’s scale, capital resources, and global reach by contributing deep industry knowledge and specialized structuring capabilities.

The asset manager has hired James Garlick, former co-founder of Wingspire, as SablePoint’s president to lead its buildout and growth.

Aneek Mamik, Head of Financial Services for Asset-Based Finance for BXCI, commented:

“This is an important new platform for origination and strengthens our ability to be a one-stop capital solutions provider for companies. We look forward to working with James and his team to originate high-quality opportunities across the asset-based lending markets.”