Shares of Blackstone (NYSE: BX) have taken a beating during the current bear market. The stock has lost about 30% of its value from the peak early last year. A big weight has been concerns about its growth prospects because of mark volatility and an uncertain macroeconomic picture. The company has already experienced growth headwinds for its core retail product, non-traded REIT BREIT, which saw a surge in redemption requests.

However, as the company looks ahead, it sees an enormous growth opportunity. Blackstone's management team discussed its long-term growth drivers on its fourth-quarter conference call.

Given the company's near-term growth headwinds, an analyst on the call asked the company to provide a big-picture overview of future growth. COO John Gray answered by first giving an overview of the opportunity in alternative investment management. Gray stated:

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Source Fool.com