Top Private Equity Firms KKR & Apollo Report 2022 Q3 Losses of $91 Million & $876 Million, Blackstone with $2.3 Million Profit
3rd November 2022 | Hong Kong
Top Private Equity firms KKR & Apollo have reported 2022 Q3 earnings losses of $91 million (KKR) and $876 million (Apollo), with Blackstone reporting $2.3 million in net profit. For 2022 Q3, Blackstone reported AUM of $950 billion, Apollo AUM of $523 billion and KKR AUM of $496 billion, with the 3 private equity firms AUM nearing $2 trillion with $1.96 trillion (AUM ~ Assets under Management)
“ Top Private Equity Firms KKR & Apollo Report 2022 Q3 Losses of $91 Million & $876 Million, Blackstone with $2.3 Million Profit “
KKR, Apollo, Blackstone, Total AUM Nears $2 Trillion
In October 2022, Apollo Capital Management is increasingly targeting at retail clients in Asia for private equity allocations via Private Bankers & Investment Advisors, aiming to raise majority of its $50 billion over the next 5 years through Asia’s fast growing wealth. Top private equity firms Blackstone & KKR have also expanded in Asia. In January 2022, Apollo hired HSBC Private Bank Managing Director Edward Moon as Head of Asia-Pacific Global Wealth. Edward Moon was HSBC Private Bank Managing Director and Regional Head of Alternatives (Asia).
In September 2022, KKR launched its Health Care Strategic Growth Fund II on a tokenised public blockchain platform (via Securitize tokenised fund), providing institutional private market access to individual investors. KKR is one of the top private equity firm ($491 billion AUM) was founded in 1976 by Henry Kravis and George Roberts over dinner at Joe and Rose Restaurant, and raising its first $1 billion institutional fund in 1984.
In February 2022, Blackstone Founder, Chairman & CEO Stephen Schwarzman received a total of $1.1 billion in payout for 2021. Stephen Schwarzman, who founded Blackstone alongside Peter Peterson with $400,000 in seed capital, had received $350,000 in salary, $160.3 million of compensation in various forms and $941.6 million in dividends from his 19% shareholding in Blackstone in 2021. Today, Blackstone is a leading global investment manager with $881 billion in managed assets, including $279 billion in real estates, $261 billion in private equity, $81 billion in hedge funds, and $259 billion in credit & insurance. In 2007, Blackstone Group went public on New York Stock Exchange (NYSE) and has a market capitalization of $154 billion (25/2/22). Stephen Schwarzman, one of the world’s top 50 billionaire with $37 billion estimated fortune, is a signer of The Giving Pledge founded by Bill Gates, Melinda Gates & Warren Buffett, for billionaires to give majority of their wealth away during their lifetime or in their estate.