Investors tend to notice fast-growing companies because they have the potential to deliver the strongest long-term performance. 

However, some rapidly growing businesses are flying under the radar of many investors because they operate in sectors not known for growth. Three growth stocks expanding at surprising rates are Blackstone Group (NYSE: BX), American Tower (NYSE: AMT), and Alexandria Real Estate Equities (NYSE: ARE). Here's why a few of our contributors believe that makes them look like great buys this October. 

Matt DiLallo (Blackstone Group): Alternative investing is a vast and rapidly growing market. Each year, investors allocate more capital to alternatives like hedge funds, real estate, private equity, venture capital, and infrastructure to reduce their exposure to the volatile public stock and bond markets. By 2025, alternative investments under management will rise to more than $17 trillion, growing at a nearly 10% annual clip, according to industry data provider Preqin.

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Source Fool.com