(HedgeCo.Net) The most important “today” story across the largest alternative investment firms isn’t a single mega-deal—it’s a market narrative shift that’s forcing the entire private-capital complex to explain itself in real time. Over the last week, a broad sell-off in software stocks (and the debt tied to them) has bled directly into the public valuations of the biggest alternative managers—Blackstone, Apollo, KKR, Ares and Blue Owl among them—because investors are suddenly treating “software...
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