Blackstone (BX) Company Report

Blackstone injected $200 million into its Anthropic holding, lifting its total stake to about $1 billion and valuing the AI developer at roughly $350 billion.
The fundraising round has exceeded its initial $10 billion target by more than double, and Blackstone had earlier joined a $13 billion round at a $183 billion valuation.
Anthropic counts major tech firms Amazon and Alphabet among its backers.
Following the new investment, Blackstone, which manages $1.242 trillion in assets, saw its share price climb approximately 1.7%.

2 days ago

Bloomberg

Blackstone outlines 2026 deployment, fundraising and AI strategy

Guidance Update

New Projects/Investments

$138 billion deployed in 2025 (a four-year high), including $42 billion in Q4, with continued focus on AI infrastructure, electrification, life sciences and private credit in 2026.
$239 billion of inflows in 2025 (+40% YoY), led by institutional (+50%), individual (+50%) and insurance (+20%); drawdown fundraising in 2026 is expected to surpass 2025 levels.
Base management fees grew mid-teens across three of four segments in Q4 2025; fee-earning AUM up 14% in open-ended strategies (BXMA) and strong transaction fee outlook underpin multi-year fee-related earnings growth.
Applying AI in operations (e.g., coding, cybersecurity, legal review, valuations) to boost efficiency by 30–100%; holds 7% of AUM in software while investing in AI infrastructure and application companies to capitalize on the AI revolution.

2 days ago

Transcript

Blackstone outlines 2026 strategy at Bank of America conference

Guidance Update

New Projects/Investments

Strong portfolio performance: corporate private equity revenue grew 9% in Q4 and QTS data center leasing expanded 50% in 2025, reflecting robust macro and AI-driven trends.
Record investment and fundraising: deployed $138 billion in 2025 (including $42 billion in Q4) and generated $239 billion of inflows, up 40% year-over-year.
2026 financial outlook: expects mid-teens growth in base management fees across most segments, driven by new drawdown funds totaling over $50 billion, private wealth expansion, and continued momentum in credit and BXMA strategies.
Private credit and real estate strength: maintains a $520 billion credit platform with 16% fee-related earnings growth and 37% distributable earnings growth in 2025; real estate fundamentals improving with BREIT net inflows of 8.1%.

2 days ago

Transcript

Blackstone outlines 2026 growth outlook at BofA conference

Guidance Update

New Projects/Investments

Blackstone sees a healthy macro backdrop with 9% Q4 revenue growth in its corporate PE portfolio, stable margins, and anticipates AI-driven productivity gains; its U.S. data center platform QTS grew leasing 50% in 2025.
Deployed a record $138 bn in investments in 2025—incl. 8 public-to-private deals, record credit and secondaries activity—with focus on AI/data centers, power and electrification (31 investments, $10 bn equity), life sciences, private credit, and Asia expansion.
Achieved $239 bn of fundraising inflows in 2025 (+40% YoY), driven by institutional (+50%), individual (+50%), and insurance (+20%) channels, and expects 2026 drawdown fundraising to exceed 2025 levels.
Projects multi-year financial strength: mid-teens base management fee growth in three segments in Q4; launching 5 new PE drawdown funds totalling $50 bn+ in 2026; and foresees ramping dispositions and incentive-fee crystallizations in 2027.
Private wealth AUM surpassed $300 bn, leveraging partnerships (Wellington/Vanguard, L&G, Empower), rolling out ERISA-compatible CITs (BREIT, private equity) for retirement, and expanding distribution in key markets (Japan, Canada, Australia, Korea).

2 days ago

Transcript

Blackstone Real Estate secures full-building lease with Anthropic

New Projects/Investments

Anthropic signed a full-building lease for the 466,000 sq ft 300 Howard and 18,000 sq ft 342 Howard in San Francisco from a DivcoWest–Blackstone Real Estate JV, marking one of the city’s largest office commitments.
The lease anchors Anthropic’s expansion into AI Alley, underscoring AI-driven demand and contributing to downtown San Francisco’s revitalization.
Anthropic, with over 1,300 Bay Area employees, will consolidate its local footprint previously split across two nearby buildings.
Blackstone Real Estate highlights its long-term commitment to San Francisco, citing the AI revolution as a key driver of office utilization and demand.

Feb 2, 2026, 7:47 PM

Press Release

Blackstone reports record Q4 earnings and $71B inflows

Earnings

Blackstone posted Q4 GAAP net income of $1.97 billion (EPS $1.30) and Q4 distributable earnings of $2.24 billion ($1.75/share).
Full-year 2025 distributable earnings reached $7.1 billion (about $5.57/share).
Fundraising in Q4 surged to $71 billion, driving full-year inflows of $239–$240 billion and lifting AUM by 13% to $1.27–$1.3 trillion.
Private-wealth fundraising jumped 53% YoY to $43 billion, a major contributor to AUM growth.
Management highlighted AI-driven demand for digital and energy infrastructure and a secular shift into private markets as tailwinds, but flagged a slower real-estate recovery and rising credit redemption sensitivity as risks.

Jan 29, 2026, 3:08 PM

Bloomberg

Blackstone reports Q4 2025 earnings

Earnings

Distributable earnings in Q4 of $2.2 billion ($1.75/share) and GAAP net income of $2 billion; declared dividend of $1.49/share
Fee-related earnings of $1.5 billion ($1.25/share), led by record management fees of $2.1 billion (up 11% y/y) and fee-related performance revenues of $606 million
Net realizations of $957 million, up 59% y/y, driven by exits including Legence, CityCenter, and BXMA performance fees of $465 million (up 38% y/y)
Full-year AUM grew 13% to $1.275 trillion; full-year distributable earnings $7.1 billion (up 20%), FRE $5.7 billion (up 9%), management fees $8.0 billion (up 12%), and net realizations $2.1 billion (up 50%)
2025 fund performance: Infrastructure +24%, corporate PE +14%, BXMA +13%, non-investment-grade private credit +11%, real estate credit +17%, and real estate values +1.5%

Jan 29, 2026, 2:00 PM

Transcript

Blackstone reports Q4 and full-year 2025 results

Earnings

Blackstone delivered Q4 distributable earnings of $1.75 per share (GAAP net income of $2.0 billion), supported by $1.5 billion of fee-related earnings, $957 million of net realizations, and declared a $1.49 dividend per share.
For the full year, distributable earnings rose 20% to $5.57 per share ($7.1 billion); fee-related earnings grew 9% to $5.7 billion; management fees increased 12% to $8.0 billion; and assets under management reached $1.275 trillion, up 13% YoY.
Fundraising remained robust with $71 billion of inflows in Q4 and ~$240 billion for 2025, led by private wealth ($43 billion, +53% YoY) and credit channels (>$140 billion of inflows).
Investment performance was strong across strategies in 2025: Infrastructure +24%, corporate private equity +14%, BXMA +13%, non-investment-grade private credit +11%, and real estate values +1.5%.

Jan 29, 2026, 2:00 PM

Transcript

Blackstone reports Q4 2025 results

Earnings

Dividends

Fee Related Earnings of $1.5 billion ($1.25/share) and Distributable Earnings of $2.2 billion ($1.75/share) in Q4 2025.
Total AUM reached $1.275 trillion, with $71.5 billion of inflows, $42.2 billion deployed and $46.1 billion realized in the quarter.
Net Accrued Performance Revenues were $6.7 billion ($5.49/share) in Q4 2025.
Declared a quarterly dividend of $1.49 per share to holders of record on February 9, 2026, payable February 17, 2026.
Full‐year FRE was $5.7 billion and DE was $7.1 billion, with annual inflows of $239.4 billion.

Jan 29, 2026, 2:00 PM

Presentation

Blackstone reports Q4 2025 results

Earnings

Dividends

Q4 GAAP net income of $2 billion, distributable earnings of $2.2 billion or $1.75 per share, and full-year DE of $5.57 per share (+20%), with a $1.49 dividend declared.
Q4 inflows reached $71 billion, driving full-year inflows of $240 billion and lifting AUM by 13% to nearly $1.3 trillion, fueled by 53% growth in private wealth fundraising to $43 billion.
Q4 fee-related earnings hit $1.5 billion, supported by record management fees of $2.1 billion (+11%), with base management fees up 17% in private equity, credit insurance, and multi-asset segments.
Leveraged market volatility for 8 privatizations, including the $18 billion Hologic deal, delivered record private credit deployment, and focused on AI infrastructure, life sciences, India, and Japan.