They have done a great job.  They are raising a lot of money.  It is still a limited partnership.  When KKR converted to a company, you saw the stock price jump up on conversion because people then buy it because it is part of the index.  (Analysts’ target: $41.08).

(A Top Pick May 1/17 - Up 23%.)  The largest private equity company in the world. Has a great dividend yield. A great story. They are not a corporation therefore not on the S&P 500. With the tax changes there is a rumor that they will become a corporation and be part of the index and would get a bump. Outside of that, these guys have been very astute. 

He won't comment on this company, but the space instead. In the private equity industry, the best time to buy assets is during economic distress when they're cheap. Those assets go into the company's funds and rise in value. The best times to buy PE companies is during pullbacks like 2008-9 and 2011 which then benefitted from the recoveries. Also, credit spreads are narrow now and if they widen that becomes a problem, because these companies borrow to finance their purchases. He's not involved in private equity.

(January 12, 2018, Down 5%) The fees they earn off their business are consistently rising. BX could convert into a coporate structure from an LLP one; this means more people can own the stock. It trades at 10x earnings and pays an 8% dividend.

The success of this will be driven by interest rates remaining reasonable and continued growth in the economy.  The MLP format changes will likely favour this one on balance. 

He never liked this. It's too opaque. They may be a great money manager, but you don't know what they own. They don't disclose well. Yield above 10%.