Steve Schwarzman

Alternative asset managers such as Blackstone Group LP and KKR & Co LP have for decades scoured the stock market for undervalued companies. Now they are trying to convince investors that shares in their own firms are a bargain.As a group, their valuations tend to be weighed down by at least three factors. Because they have gone public relatively recently, their track record as public companies is relatively short. The presentation of their results is complicated and makes comparisons difficult. What is more, their founders and partners have retained significant stakes, which can be negative for their stock when investors fear a significant share sale.Even so, shares of these firms - a list that also includes Carlyle Group LP and Apollo Global Management LLC - are unlikely to stay cheap for long, analysts say.If these firms can keep generating strong results, turning profits from asset sales and paying out more in dividends, stock market investors are bound to pile in, they say."We beli...

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