Singer new song

31 January 2019 By Tom Buerkle, Lauren Silva Laughlin Follow @tombuerkle

Bulking up in buyouts is logical for Paul Singer’s hedge fund, which is better known as an activist. Yet market turmoil has hit established players like Blackstone and Apollo, and the industry is awash in capital. Coming late and small to the game is no formula for success.

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Elliott Management has asked investors for $2 billion to take companies private, the Wall Street Journal reported on Jan. 30, citing people familiar with the matter.

Blackstone on Jan. 31 reported a net loss of $79 million in the fourth quarter of 2018, compared with a profit of $804 million in the same period a year earlier.

The firm had inflows from investors of $39 billion for the quarter and $101 billion for all of 2018, lifting assets under management to $472 billion at the end of the year from $434 billion in 2017.

Apollo Global on Jan. 31 reported a net loss of $378 million in the fourth quarter of 2018, compared with a profit of $461 million in the same period a year earlier.

The firm had $16 billion of inflows from investors in the fourth quarter and $47 billion for all of 2018, boosting assets under management to $280 billion.

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