Shares of Blackstone Group (NYSE: BX) have tumbled more than 40% from their peak. That sell-off comes even though the leading alternative asset manager is thriving in the current environment. Its various funds have significantly outperformed public stock and bond markets. That's leading more investors to entrust Blackstone with their precious capital, driving significant growth in its assets under management and fee-related income.

Those surging fees are allowing Blackstone to pay a lucrative dividend. With its share price slumping, its dividend yield is over 6%. Add that big-time yield to Blackstone's growth prospects and discounted stock price, and it has significant total return potential. 

Investors are flocking to Blackstone these days. They poured another $44.8 billion into its various funds and investment vehicles during the third quarter, pushing the total to $337.8 billion over the last 12 months. That boosted Blackstone's assets under management (AUM) to $950.9 billion. AUM has surged 30% over the past year.

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Source Fool.com