Fed’s Powell opens door to potential rate cuts at Jackson Hole
NEW YORK - Blackstone (NYSE: BX), the world’s largest alternative asset manager with a market capitalization of $195 billion and impressive revenue growth of nearly 65% over the last twelve months, has appointed Rodney Zemmel as the new Global Head of Portfolio Operations. According to InvestingPro data, the company maintains a robust financial health score of "GOOD" and has consistently paid dividends for 19 consecutive years. Zemmel, a former Senior Partner at McKinsey & Company, brings extensive experience in digital transformation and artificial intelligence (AI) from his tenure overseeing McKinsey Digital and the firm’s AI Transformation initiatives.
In his new role, Zemmel will lead Blackstone’s Portfolio Operations group, which supports the firm’s portfolio companies in various functional areas including talent management, data science, AI, cybersecurity, procurement, energy efficiency, operational excellence, and asset management. Blackstone’s portfolio includes 250 companies generating $226 billion in annual revenue and employing approximately 700,000 people. With a return on equity of 37% and strong cash flow generation, InvestingPro analysis reveals the company’s operational excellence. For deeper insights into Blackstone’s financial performance and growth potential, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
Joe Baratta, Global Head of Blackstone Private Equity Strategies, expressed confidence in Zemmel’s ability to drive value creation for investors and leverage AI’s transformative potential within Blackstone’s companies.
Zemmel, who has nearly three decades of experience at McKinsey, expressed enthusiasm for the opportunity to contribute to Blackstone’s growth and innovation efforts. He cited the firm’s scale as a significant factor in driving continued success for the businesses in which Blackstone invests.
This strategic appointment comes as Blackstone continues to manage over $1.1 trillion in assets, with investment strategies spanning various sectors including real estate, private equity, infrastructure, life sciences, growth equity, and credit. Based on InvestingPro’s Fair Value analysis, the stock currently appears slightly undervalued, presenting a potential opportunity for investors. InvestingPro subscribers have access to 12 additional exclusive tips and comprehensive valuation metrics for Blackstone.
The information for this article is based on a press release statement.
In other recent news, Element Fleet Management Corp. has announced a strategic funding partnership with Blackstone Credit & Insurance, involving a portfolio of Canadian fleet lease receivables valued at approximately CAD $500 million. This collaboration is expected to enhance Element’s funding profile and support its growth, as it benefits from off-balance sheet funding. Meanwhile, private equity firm Genstar Capital is reportedly in discussions to acquire a controlling stake in First Eagle Investment Management, a company majority-owned by Blackstone Inc. and Corsair Capital. The potential transaction could value First Eagle at over $4 billion, although the deal has not yet been finalized.
In related developments, Blackstone Inc. is considering selling Olympus Energy, a natural gas exploration company, for up to $2 billion. BMO Capital Markets and Keefe, Bruyette & Woods have both updated their price targets for Blackstone Group (NYSE:BX), raising them to $163 and $177 respectively, while maintaining a Market Perform rating. BMO cited positive trends in Blackstone’s deal activity, while Keefe pointed to Blackstone’s recent earnings surpassing expectations due to higher Fee-Related Earnings and increased net realizations. Blackstone’s management expressed optimism about the fundraising and deployment landscape for 2025, despite uncertainties in the Real Estate segment.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.