Blackstone's executives highlighted the slowing economy due to Trump's unprecedented tariff negotiations during an earnings call. CEO Steve Schwarzman emphasized the market's need for patience while awaiting the resolution of negotiations involving over a hundred countries. They noted a detrimental impact on IPOs, with COO Jon Gray stating that the market remains cautious, particularly affecting strategic buyers. Despite challenges, Blackstone sees opportunities in acquiring undervalued public securities, leaning on private credit investments as support amid declining transaction volumes.
Schwarzman stressed the importance of 'patience' during the firm's earnings call, noting that markets are waiting on the outcome of unprecedented negotiations with over a hundred countries.
Jon Gray remarked that the IPO market has been hit the hardest, stating, 'It has the toughest conditions, and will need some stability to turn back on.'
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