Alt asset managers' slump, triggered by software fears, is overdone, Goldman says
Goldman Sachs analysts, led by Alexander Blostein, believe the recent slump in alternative asset managers due to fears surrounding software exposure is overdone. The VanEck Alternative Asset Manager ETF dropped 14% in the past month, while the S&P 500 fell only 0.8%. Despite concerns, Goldman’s assessment shows that software exposure for alternative asset managers is relatively small, averaging around 5% of total management fees. Companies like TPG and KKR have higher exposure, while Carlyle Group and Apollo Global Management are among the least exposed.
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