Goldman Sachs Sees Broad EPS Pressure Across Capital Markets, Highlights Brookfield As A Standout

Goldman Sachs analyst Alexander Blostein expects macro and policy uncertainty, volatile equity markets, and declining short-term interest rates to weigh on EPS forecasts for Capital Markets stocks.

The analyst’s 2025 estimates are ~5% below consensus on average, except for Exchanges.

Blostein says Alternative Manager stocks face heightened EPS risks due to weaker realization activity (potential 30% downside to Street estimates) and a slower FRE growth trajectory, now expected to average 11% in 2025E, down from ~15% previously.

The analyst writes that Brookfield Asset Management Inc (NYSE:BAM) appears among the most resilient, benefiting from index inclusion.

While TPG Inc. (NASDAQ:TPG) and KKR & Co. Inc. (NYSE:

https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44634677/goldman-sachs-sees-broad-eps-pressure-across-capital-markets-highlights-brookfield-