Blackstone Sets Industry Record With $1.2 Trillion In Assets

Blackstone (NYSE:BX) shares surged Thursday after the alternative asset manager announced a powerful second quarter, handily surpassing analyst expectations with a 22% year-over-year (Y/Y) jump in segment revenues.

The strong performance was fueled by a 25% increase in distributable earnings and robust growth across its key business segments, pushing the firm’s total assets under management to a new industry record of over $1.2 trillion.

Blackstone reported second-quarter fiscal year segment revenues of $3.075 billion, up 22% Y/Y, beating the analyst consensus estimate of $2.778 billion. 

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Distributable earnings (DE) rose 25% Y/Y to $1.57 billion. Fee-related earnings increased 31% Y/Y to $1.46 billion. Fee-related earnings rose 13% Y/Y in Real Estate, 12% Y/Y in the Credit & Insurance business, 87% Y/Y in the Private Equity, and 16% Y/Y in the Multi-Asset Investing segments.

Net accrued performance revenue rose to $6.61 billion in the quarter from $6.21 billion in the prior year quarter. Distributable earnings per share of $1.21 (+26% Y/Y), beating the analyst consensus estimate of $1.08.

Assets under management rose 13% Y/Y to $1.21 trillion, with inflows of $52.1 billion in the quarter.

Blackstone declared a quarterly dividend per share of $1.03, payable on August 11, to shareholders of record as of August 4, 2025. The company repurchased 0.2 million shares in the quarter, with $1.8 billion in available authorization remaining as of June 30, 2025.

As of June 30, 2025, Blackstone had $10.6 billion in total cash, cash equivalents, corporate treasury, and other investments.

Chairman and CEO Stephen A. Schwarzman said Blackstone achieved strong second-quarter results, driven by broad growth across private wealth, credit and insurance, and infrastructure. He noted that the firm significantly increased earnings and pushed total assets under management to over $1.2 trillion, marking a new industry record. He emphasized that, above all, Blackstone continued to deliver strong investment performance for its limited partners, with the highest level of fund appreciation in nearly four years.

Price Action: BX shares are trading higher by 4.50% to $179.69 at last check Thursday.

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