Blackstone Inc. Hits Record $1.2 Trillion in Assets Under Management Amid Strong Q2 Performance

Blackstone Inc. (NYSE: BX) surged 4.34% to $179.42 midday Thursday after reporting a robust second quarter that shattered expectations. Segment revenues climbed 22% year-over-year to $3.075 billion, eclipsing the $2.778 billion consensus. Distributable earnings ROSE 25% to $1.57 billion, with EPS of $1.21 outperforming the $1.08 forecast.

The alternative asset manager’s fee-related earnings jumped 31% to $1.46 billion, led by an 87% surge in private equity. Total assets under management reached a historic $1.21 trillion, up 13% year-over-year, with $52.1 billion in quarterly inflows. CEO Stephen A. Schwarzman attributed the growth to demand across private wealth and infrastructure strategies.

Blackstone declared a $1.03 per share dividend payable August 11, reinforcing its position as a dominant force in private markets. The results underscore institutional confidence in alternative assets despite macroeconomic headwinds.