高盛会议Transcript已经有了。Transition Fund很快要募集二期了。
长工,今天凌晨两点40分Bruce在高盛会议发言,要做好纪要哦。
然后早上4点到6点$美国股票投资寿险(AEL)$ 的Investor Day会回应Sachin的问题清单,也要盯好。
"That doesn’t mean it won’t hurt. BREIT is a tidy earner of fees. Blackstone finance chief Michael Chae told a conference last year that the fund earns revenue equivalent to about 2.5% of net assets, and keeps about half of that in profit. That would be just under $900 million based on the fund’s size in November - equivalent to nearly 17% of total fee-related earnings for the last four quarters."
BREIT的收费特别高,除了1.25%管理费之外还有12.5%表现费(黑石选择把这个也算到FRE里,因为认为很持续),所以贡献的收入占比很高。
下图是高盛的测算,run-rate大概占23%。
这个问题还好,多用点equity少用点debt还能凑合。这次是BREIT被赎回过多,黑石宣布减少额度。投资者享受了低波动和高收益,还想要良好的流动性,想太美了