Here’s What Makes Blackstone (BX) A Great Investment Choice

Artisan Partners, a high value-added investment management firm, published its “Artisan Value Fund” third quarter 2021 investor letter – a copy of which can be downloaded here. A return of -1.33% was recorded by its Investor Class: ARTLX, -1.28% by both its Advisor Class: APDLX, and Institutional Class: APHLX for the third quarter of 2021, all below the Russell 1000® Value Index that delivered a -0.78% return, and the Russell 1000® Index that gained 0.21% for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Artisan Value Fund, in its Q3 2021 investor letter, mentioned Blackstone Inc. (NYSE: BX) and discussed its stance on the firm. Blackstone Inc. is a New York, New York-based alternative investment management company with a $96.2 billion market capitalization. BX delivered a 107.87% return since the beginning of the year, while its 12-month returns are up by 117.36%. The stock closed at $134.72 per share on December 06, 2021.

Here is what Artisan Value Fund has to say about Blackstone Inc.  in its Q3 2021 investor letter:

“Among our top Q3 contributors were Blackstone. Investment stalwart Blackstone’s virtuous cycle is in full swing. Throughout Blackstone’s history, excellent investment performance and capital protection have allowed the firm to increase fundraising in existing verticals as well as launch new endeavors. Historically, less than 10% of assets under management mature in any given year, and that number should move lower with continued growth in perpetual capital vehicles. Blackstone’s A+ rated balance sheet and capital-light model are the backbone of its 85% of cash flow distribution policy via a variable quarterly dividend. In short, this is a long-duration fee stream and robust capital-raising engine.”

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Based on our calculations, Blackstone Inc. (NYSE: BX) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. BX was in 54 hedge fund portfolios at the end of the third quarter of 2021, compared to 54 funds in the previous quarter. Blackstone Inc. (NYSE: BX) delivered a 4.43% return in the past 3 months.

Disclosure: None. This article is originally published at Insider Monkey.