The four largest publicly traded alternative asset managers – Apollo Global Management Inc., Blackstone, Carlyle, and KKR – held roughly $416bn in dry powder at the end of the second quarter, said a study.
The quartet aims to take advantage of the same market turbulence that curbed investment performance and sent their stocks tumbling in the first half of 2022, according to a report by S&P Global.
Apollo, Blackstone, and KKR all reported negative net income figures for the quarter while writing down the value of their private equity portfolios. Carlyle’s second-quarter net income figure was in positive territory but down 73% year over year, and while its private equity portfolio did not lose value in the quarter.
Read more: Opalesque
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