Investment banks are taking a hit and underperforming a market that has risen over the last 12 months — but firms like Blackstone (BX) are winning the AUM game. Blackstone and KKR & Co. (KKR) have outpaced investment banks and gained more than 130 percent on public markets as they simultaneously grew assets under management, like so many other big Wall St. shops that took over lines of business Washington prohibited I-banks from using to boost their top lines. Today’s Chart of the Day hasn’t outpaced markets for the last 12 months but if it tops earnings later this month, that could change.
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