Blackstone (BX) Company Report

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.

1 day ago

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.

5 days ago

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%

5 days ago

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%.

5 days ago

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.

5 days ago

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.

5 days ago

Transcript

Blackstone in talks to take largest stake in New World Development

M&A

New Projects/Investments

Blackstone is in advanced negotiations to become the single largest shareholder of New World Development, potentially overtaking Chow Tai Fook Enterprises’ roughly 45% stake.
The investment would give Blackstone the authority to restructure the highly indebted developer, which was rescued from default by a record refinancing in 2025.
News of the talks has driven New World’s shares up more than 50% this month, although they remain over 90% below their 1997 high, with a market capitalization around HK$28 billion.
Blackstone, one of the world’s largest asset managers, oversees over $1 trillion in assets, underscoring the scale of its potential investment.

5 days ago

Bloomberg

Blackstone reports Q4 and full year 2025 results

Earnings

Dividends

GAAP Net Income was $2.0 billion in Q4 and $6.0 billion for FY2025; Net Income attributable to Blackstone Inc. was $1.0 billion in Q4 and $3.0 billion for the year.
Fee Related Earnings were $1.5 billion (or $1.25/share) in Q4 and $5.7 billion (or $4.67/share) for FY2025; Distributable Earnings were $2.2 billion (or $1.75/share) in Q4 and $7.1 billion (or $5.57/share) for the year.
Total Assets Under Management reached $1.275 trillion, with $71.5 billion of inflows in Q4 and $239.4 billion for FY2025.
Declared a quarterly dividend of $1.49 per share, payable on February 17, 2026.

6 days ago

8-K

Blackstone to Expand Financing for Oracle Data Center

New Projects/Investments

Debt Issuance

Blackstone is weighing providing debt financing for Oracle’s planned data-center campus in Saline Township, Michigan.
Bank of America is leading a $14 billion debt raise for the project, highlighting the high costs of AI infrastructure.
Blackstone’s scale ($1.242 trillion total AUM, $906.2 billion fee-earning AUM, market cap ~$113 billion) underscores its capacity to back the financing.
Oracle shares have plunged nearly 30% over the past six months, increasing investor caution around the deal.
Blue Owl Capital’s opt-out of equity has broadened the need for a diverse funding mix.

6 days ago

Bloomberg

Blackstone weighs sale of Beacon Offshore

M&A

Blackstone is exploring a sale of Beacon Offshore Energy in early talks with banks to launch a >$5 billion deal as soon as Q1 2026
Beacon Offshore owns interests in 68 deepwater leases across nearly 400,000 gross acres, with its Shenandoah wells beginning production in H2 2025
The potential divestment aligns with Blackstone’s wind-down of its oil and gas portfolio—Beacon remains one of its last legacy fossil-fuel assets after selling Olympus Energy last year
This move mirrors broader Gulf offshore consolidation, exemplified by Harbour Energy’s $3.2 billion acquisition of LLOG Exploration in December 2025

Jan 20, 2026, 11:34 PM

Bloomberg