And of all the asset managers Cramer said BlackRock (BLK), is among his favorites.
"This is the largest asset manager in the world, with $3.8 trillion in assets under management. BlackRock is heavily biased toward stocks, with 53% of those assets in equities, and only 36% in fixed income," he said.
And Cramer likes BlackRock's exchange traded fund business. "Blackrock runs iShares, a family of ETFs," he said.
It's not a pure play but "I think that makes for a fabulous investment, " Cramer said.
If you want a stock that's more of a private equity play, Cramer said, The Blackstone Group(BX) may belong in your portfolio.
Blackstone gets 24% of its revenues from private equity; 24% from real estate, 27% from its credit division, 16% from hedge funds, and 15% from advisory fees.
"The company reported at the end of January, and the conference call was extremely bullish," Cramer said.
Looking at the private equity business, "in the last two years Blackstone has brought eight of the private companies in its portfolio public," Cramer said. "In just the next twelve months, they plan on doing another eight IPOs. So this is a good business that's accelerating dramatically, and Blackstone pays you to wait with that 5.5% yield."
What's the bottom line?
"Just remember that in finance, as in fashion, black never goes out of style. Blackrock is my favorite, in part because of their huge ETF business, but if you want more private equity exposure, Blackstone is the way to go."