The super rich are able to access an entire world of investments that are simply off limits to the average investor, including private equity and hedge funds, real estate transactions, venture capital funds, and pre-IPO shares, observes Ian Wyatt, editor of Million Dollar Portfolio.

But there is a backdoor way for every investor to profit from the Wall Street for the wealthy. It's by investing in the leading investment firm that serves these super rich clients.

This firm provides investors with healthy upside, plus a current dividend yield of 5.5%. Let me explain the opportunity to invest in the firm that's serving the ultra-wealthy.

The Blackstone Group LP (BX) is the largest alternative asset manager in the world. The investment firm offers private equity funds, hedge funds, and real estate investments to institutional investors, including pension funds, endowments, corporations, and governments.

Blackstone ended 2014 with $290 billion of assets under management. In the last five years, those assets have increased an impressive 196%. Last year, assets grew by a solid 9.5%.

The stock is trading at a P/E multiple of 10 times trailing EPS. If the dividend payout ratio remains the same in 2015, Blackstone shares would provide investors with a healthy 5.9% dividend yield.

The biggest risk with this investment is the overall performance of the financial markets. Blackstone's business is highly correlated with the performance of its investments.

As a result of this risk and exposure, investors have always paid a discounted valuation for asset management firms like Blackstone. That's reasonable and makes sense. However, a 41% valuation discount compared with the S&P 500 is pretty steep.

My target price is $48, based on a P/E multiple of 12 times my EPS estimate of $4.00 for 2015. When you add in the expected $2.25 dividend, you arrive at a total potential return of 32%.

Additionally, the cheap valuation should provide some downside protection in the event that the stock market corrects at some point in the next year.

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