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When I first got into the financial industry some two decades ago, the hottest career was in investment banking, the home of the financial "Masters of the Universe."
Hedge funds in particular were all the rage.
A good gig at a company like Goldman Sachs (NYSE: GS) was the place to be, so I joined Goldman in their hedge fund group to learn the business from some of the best and brightest minds.
Working for a hedge fund quickly became Wall Street's glamor job, the new address for the Masters of the Universe.
Then, after the financial crisis hit and many hedge funds took their licks, the smartest minds and smartest money moved elsewhere — and unlike investment banking, this isn't off limits to you, the retail investor.
As always, the smartest minds and the smartest money will find the right place to prosper, and these days the new Masters of the Universe have found that place in private equity.
For you, the new home of the best and brightest is something to celebrate, because there's now the opportunity to make money from many high-quality, publicly-traded private equity firms that are generating income and delivering big share-price appreciation for shareholders.
Earn Twice as Much
Let's face it, in a rising interest rate environment, you need both high dividends and strong growth potential-and both of these attributes can be found in spades in the best publicly-traded private equity companies.
So, who are these new Masters of the Universe? Two firms in particular can work wonders for your financial future.
What makes these firms so compelling from an investor's perspective is their extremely attractive yield and their outstanding share price performance. Investing in their shares will give you the opportunity to profit alongside the firm's billionaire managing partners.
For example, Blackstone offers a current yield of 3.90%. So far in 2013, that yield has come complete with a 48.2% share price surge. KKR offers a higher current yield of 5.30%, along with a stellar year-to-date gain of 35.6%. Some other firms offer even higher cash yields.
What makes these funds so profitable for investors?