Most of Blackstone, KKR, Apollo, Carlyle, Ares, CVC etc. and other leading private equity firms or alternative asset management firms have invested in life insurance companies, pension companies and other annuities businesses.
The main goal is to access long-term capital via the annuity payments insurance and pension insurance companies receive as part of their regular business. Blackstone, KKR, Apollo, Carlyle, Ares, CVC etc. and other alternative asset management firms call this kind of long-term capital perpetual capital. And perpetual capital constitutes between 30 % to 40 % of Blackstone, KKR, Apollo and Carlyle's total assets under management according to the analysis of Blackstone, KKR, Apollo and Carlyle's financial statements by Wolfteam Ltd.
Via the long-term perpetual capital Blackstone, KKR, Apollo and Carlyle and other alternative asset managers are not constrained so much by funds' maturities and they can invest the perpetual capital for the long-term - above 7 years. In this way Blackstone, KKR, Apollo and Carlyle have more time for operational improvements and the private equity buyouts and also the real estate assets and private credit lending and thus they can achieve even higher S&P 500 beating returns and thus maximize their value.
Due to large part of the high share of perpetual long-term capital in Blackstone, KKR, Apollo and Carlyle's assets under management Blackstone, KKR, Apollo and Carlyle are all undervalued. Blackstone, KKR, Apollo and Carlyle's intrinsic value is 3 times higher on average, according to Wolfteam Ltd.'s projections and estimates. Thus if managed right Blackstone, KKR, Apollo and Carlyle can increase their market capitalization by more than threefold and unlock hundreds of billions of USD of value for their shareholders, employees and other stakeholders.
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