European markets are ‘very attractive,’ Ares co-president says
Echoing comments from Blackstone’s vice chairman earlier at the SuperReturn private equity conference in Berling, Blair Jacobson, co-president of Ares Management Corporation, said there was a “feeling right now that European markets are very attractive.”
Positive factors include falling interest rates and Germany’s 500 billion euro fiscal package, he said.
Jacobson said he was also encouraged by last year’s Draghi report, which urged deregulation and making Europe more competitive.
“Europe is growing up and taking control of its own destiny, which can be positive for macro trends,” he said.
Ares is focusing more on its international exposure and sees massive opportunities outside the U.S., Jacobson added, evidenced by its recent acquisition of global alternative asset manager GCP International for $3.7 billion which increased its exposure in Asian infrastructure.
European markets open higher as Trump’s 50% steel tariffs kick in
It’s shortly after the opening bell in London and European stocks are trading higher, despite President Donald Trump’s 50% tariffs on steel kicking in on Wednesday.
The pan-European Stoxx 600 opened nearly 0.3% higher. The German Dax led gains and was up 0.6%, the French CAC 40 was 0.3% higher and London FTSE 100 was little changed. Most major sectors were in the green.
‘This too will pass,’ Blackstone VC says of tariff volatility
More than 6,000 private markets professionals are gathering at the InterContinental Hotel in Berlin this week for one of the largest gatherings of the industry in the world. Items on the agenda include muted M&A and initial public offering (IPO) activity, opportunities from AI, and of course, Trump tariffs.
Kicking off panels on Wednesday is Blackstone Vice Chairman Thomas Nides, who stressed that “this too will pass” when it comes to recent tariff volatility.
“People just want a little certainty. Trump keeps everyone on edge, and for people who are market participants, that’s anxiety ridden. Boardrooms are cautious in decision-making,” he said.
“When you’re a long-term investor you need to invest through cycles… Things will calm down, issues around tariffs will subside over time, and we’ll get back to equilibrium.”
The U.S. market remains a great place to invest, but more political certainty means “shifting money into Europe is certainly not a bad bet,” he added.
