$1.34 trillion in assets under management marked Blackstone’s latest milestone, extending gains reported earlier in the day after strong second-quarter results.
AI investments and inflows across asset classes drove the increase, building on nearly $70 billion of quarterly inflows that had already lifted fees and earnings.
Executives also pointed to a “renaissance” in Blackstone’s Hedge fund business, suggesting broader momentum beyond private markets.
Private credit remains a watchpoint, with management flagging concern that redemptions are slowing even as the firm’s overall platform keeps expanding.