That approach has recently led to the firm investing in a few major properties just down the road from where Gray was speaking, the Bellagio, MGM Grand and Mandalay Bay casinos.I'm a wealth management staff writer at Forbes based in New York. That proclamation came with Gray speaking in the aftermath of a major drop in the financial markets earlier in the day on news that the epidemic had spread to Italy and South Korea. PE deals fell more than 58% during the half.Blackstone Group Inc. agreed to acquire a nearly $1 billioninfrastructure investment portfolio from Alaska Permanent FundCorp., according to a person familiar with the matter. But Thursday, the investment firm’s employees received a . Email thoughts and tips to JBisnoff@Forbes.com. His advice to advisors looking to respond to that challenging investment environment is to “find themes in areas where you have more convictions where there's more growth.” Gray used the aforementioned life sciences sector as an example of a sector in which he was bullish because of the increasing use of big data and the advances in precision medicine.With the rapid speed at which technology is transforming these sectors, new entrants are coming in at a rapid pace and seeking not only capital but operating expertise and relationships, according to Gray. I also covered publicBlackstone President and COO Jonathan Gray, speaking to the assembled group of financial advisors at the Forbes/SHOOK Top Advisor Summit at the Wynn Hotel in Las Vegas, said that he expects to see “slow and steady growth” despite a tough investment environment.In the midst of a historic economic expansion, Gray does not see the troubling signs of a bubble that have been present in the past, namely preceding the financial crisis where there was “tons of leverage in the system.” He went on to say that other factors that lead to a recession were not present, specifically mentioning excess home building, excess commercial real estate building and financial institutions being out of control.This was not the only area in which he said that technological investments were changing the economics.
Sign in to like videos, comment, and subscribe. Sign in. The Blackstone Group L.P. Blog on Talkmarkets | Page 1. Blackstone Group Inc. (BX) agreed to acquire a nearly $1 billion infrastructure investment portfolio from Alaska Permanent Fund Corp., according to a person familiar with the matter.The person said Blackstone signed the deal a few weeks ago. "Several weeks ago, [Strategic Partners] acquired $1 billion ininfrastructure secondary interests, which we believe is thelargest-ever transaction in the sector," Mr. Gray said on the call.He didn't elaborate or identify the seller.While infrastructure secondary deals declined more than 4% inthis year's first half compared with the same period in 2019, totalsecondary transactions plunged about 56% to $20.2 billion,including $17.46 billion involving private-equity funds, Settersaid. The terms of the infrastructure portion didn'tchange, the person added. Prior to joining Forbes, I was on the same beat for Private Asset Management. Watch Queue Queue Blackstone Group Inc. (BX) agreed to acquire a nearly $1 billion infrastructure investment portfolio from Alaska Permanent Fund Corp., according to a person familiar with the matter.The person said Blackstone signed the deal a few weeks ago. Blackstone Group Inc. (NYSE: BX) President Jon Gray believes that the novel coronavirus (COVID-19) pandemic has brought "actionable opportunities" for …
Jon Gray, Blackstone Group LP’s president, is known as a nice guy who doesn’t lose his temper.