Hilltop · Management Group Book gap analysis →

Sources & disclosures

Every number, sourced.

The math on this site is conservative and the sources are public. If you find a number you can't verify, email Dan and we'll fix it.

  1. [1]

    Global PE dry powder · $2.515T

    Preqin Global Private Capital Report 2026, dry-powder aggregate as of YE 2025. Preqin Pro database.

    https://www.preqin.com/insights/global-reports
  2. [2]

    Bank-sweep yield benchmark · 0.38%

    FDIC National Rates and Rate Caps, national average savings rate, 15 June 2026 release. Single published figure — not a blend. Same release: interest checking 0.07%, money market 0.61%.

    https://www.fdic.gov/resources/bankers/national-rates/
  3. [3]

    Institutional Treasury reference yield · 3.53%

    7-day net yield of the Schwab U.S. Treasury Money Fund — Ultra class (SUTXX, the institutional share class), 30 June 2026, per the fund's SEC Form N-MFP3 filed 8 July 2026. Cross-check: Vanguard Treasury Money Market Fund (VUSXX) 7-day SEC yield 3.65% as of 15 July 2026. Yield-by-horizon bands are drawn from the U.S. Treasury daily par yield curve, 15 July 2026.

    https://www.sec.gov/Archives/edgar/data/857156/000141036826069230/primary_doc.xml
  4. [4]

    Apollo · KKR · Blackstone treasury infrastructure

    Public 10-K disclosures, FY 2024-2025, "treasury operations" segments and earnings transcripts.

  5. [5]

    Blackstone dry powder · ~$200B

    Stephen Schwarzman, Chairman & CEO, Blackstone, closing remarks on the Q4 2025 earnings call, 29 January 2026: "nearly $200 billion of dry powder to take advantage of opportunities." Verified against the call transcript.

    https://www.fool.com/earnings/call-transcripts/2026/01/29/blackstone-bx-q4-2025-earnings-call-transcript/

Regulatory disclosure

Hilltop Management Group is the operational platform. HMG is not a registered investment adviser. Discretionary advisory authority over LP capital sits with our SEC-registered Investment Adviser partner, who holds full fiduciary responsibility for investment decisions made on the platform. Client capital is held at Charles Schwab Institutional, a member SIPC. Past performance does not guarantee future results. Yield ranges shown are representative as of the date noted and will move with prevailing rates.

This site is informational and does not constitute an offer to sell or solicitation of an offer to buy any security. Form ADV and other regulatory filings for the RIA partner are available on the SEC's Investment Adviser Public Disclosure (IAPD) website.