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Insurers still provide cover for private equity


Private equity managers may not be the favorites of stock market investors right now, but they still rank high among another very important group: insurers.

Shares of large alternative asset and private equity firms have generally underperformed financials overall this year. Financial stocks in the S&P 500 index are down about 4%, compared to a drop of about 8% for shares of Blackstone and double-digit declines for Apollo Global Management, Carlyle Group and KKR & Co. This marks a reversal from last year’s big outperformance.

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