This Dynamic Dividend Stock Hit a $1 Trillion Milestone (And It Has Lots of Room to Run)
Blackstone (NYSE: BX) recently reached a remarkable milestone. The company has surpassed $1 trillion of assets under management (AUM), the first alternative asset manager to reach that level.
While that's an impressive accomplishment, alternatives are only a small slice of the global stock and bond markets. Because of that, Blackstone believes it has a huge growth runway. That will give the company more fuel to pay dividends.
Blackstone was one of the early leaders in establishing the alternative investment sector when CEO Steve Schwarzman co-founded the company in 1985. Today, the alternatives industry has about $12 trillion in AUM across private equity, hedge funds, real estate, infrastructure, and insurance and credit solutions. While that's a lot of money, it's a small slice of the roughly $225 trillion global stock and bond markets.
Source Fool.com
