12 Best Aggressive Growth Stocks To Buy According to Hedge Funds

5. Blackstone Inc. (NYSE:BX)

Revenue Growth: 54%

Number of Hedge Fund Investors In Q3 2024: 50

Blackstone Inc. (NYSE:BX) is a mega player in the global asset management market as is evidenced by its $43 billion in total assets as of the third quarter. The firm operates in the market through several products such as minority investments, buyouts, and debt. With interest rates starting to lower, deal activity could pick up and Blackstone Inc. (NYSE:BX) is already seeing some favorable tailwinds. By the Q3 of 2024 close, the firm’s assets under management grew by 10% to sit at a whopping $1.1 trillion. Additionally, it is busy making big moves in the data center market in the wake of the AI-driven boom. Blackstone Inc. (NYSE:BX) acquired Australian firm AirTrunk for $16 billion which makes it one of the biggest data center companies in the world. Looking ahead, further lowering of interest rates and added momentum in financial markets, particularly through deal activity can generate added tailwinds for Blackstone Inc. (NYSE:BX)’s shares which are 46% year-to-date.

Aristotle Partners mentioned Blackstone Inc. (NYSE:BX) in its Q3 2024 investor letter. Here is what the fund said:

“Blackstone Inc. (NYSE:BX), one of the world’s largest alternative asset managers, was a leading contributor for the period. Blackstone reported nearly $40 billion in inflows and deployed $34 billion during the quarter, its highest investment activity in two years. With over $180 billion in dry powder, the company possesses significant purchasing power to invest in attractive opportunities such as its recent $24 billion acquisition of data center platform AirTrunk, its largest investment in the Asia/Pacific region. Moreover, Blackstone continues to make progress in penetrating the retail and private wealth channels, as the company raised $7.5 billion overall during the quarter, with assets raised in perpetual vehicles over the first half of 2024 eclipsing full-year totals in 2023. BCRED (a private credit vehicle), BREIT (a private real estate vehicle) and the newly launched BXPE (a private equity vehicle) have all seen encouraging signs with new inflows. Despite BREIT’s challenges last year, all redemption requests since February have been fulfilled at 100%, and requests in June were down 85% from the peak of 2023. As the overall industry fundamentals improve, we believe Blackstone’s first-mover and distribution advantages in its retail initiatives and its overall reputation as a best-in-class operator will continue to create shareholder value.”