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by Sean Klimczak, Global Head of Infrastructure
by Prakash Melwani, CIO of Corporate Private Equity
*From Blackstone’s Chief Human Resource Officer Survey (CHRO). The Blackstone CEO and CHRO surveys referred to herein is a survey of a subset of portfolio company CEOs and CHRO. For 3Q24, the CEO survey reflects responses from 90 Blackstone portfolio company CEOs (56 US CEOs) largely within Blackstone’s private equity, real estate and credit & insurance businesses (the “CEO Survey”). For 3Q24, the CHRO survey reflects responses from 65 Blackstone portfolio company CHROs (representing ~190k employees) largely within Blackstone’s private equity, infrastructure, real estate and credit and insurance businesses (the “CHRO Survey”). Note that survey composition varies from quarter to quarter. The CEO Survey was initiated on September 10, 2024 and closed September 20, 2024. The CHRO survey initiated September 6, 2024 and closed September 20, 2024. Quarter-over-quarter presentations reflect data only for companies who responded to the survey question in both quarters, which may result in a smaller subset of portfolio companies CEOs/CHROs represented in such presentation than the overall CEO Survey/CHRO Survey. The responding portfolio companies are not necessarily a representative sample of companies across Blackstone’s portfolio and the views expressed do not necessarily reflect the views of Blackstone. The views expressed reflect the responding CEOs’/CHROs’ views as of the date of their responses, and Blackstone does not undertake any responsibility to advise you of any changes in such views. References to “CEO” or “CEOs” herein refer to respondents to the 3Q24 Blackstone CEO survey. This content may contain forward-looking statements within the meaning of U.S. federal securities laws. Forward-looking statements are made only as of the date of this content and are subject to risks and uncertainties. We undertake no obligation to update any such statements. Actual outcomes or results may differ materially from these statements.
Vice President, Private Wealth Solutions
Analyst, Private Wealth Solutions
This commentary does not constitute an offer to sell any securities or the solicitation of an offer to purchase any securities. This commentary discusses broad market, industry or sector trends, or other general economic, market or political conditions and has not been provided in a fiduciary capacity under ERISA and should not be construed as research, investment advice, or any investment recommendation. Past performance does not predict future returns.
The views expressed in this commentary are the personal views of the authors and do not necessarily reflect the views of Blackstone. The views expressed reflect the current views of the authors as of the date hereof, and neither the authors nor Blackstone undertake any responsibility to advise you of any changes in the views expressed herein.
Blackstone and others associated with it may have positions in and effect transactions in securities of companies mentioned or indirectly referenced in this commentary and may also perform or seek to perform services for those companies. Blackstone and others associated with it may also offer strategies to third parties for compensation within those asset classes mentioned or described in this commentary.
