Blackstone Inc

Latest Results (13.03.2026):

Blackstone Inc — Fourth quarter and full year 2025: Blackstone reported strong Q4 2025 and FY2025 results, including GAAP net income of $2.0 billion for Q4 and $6.0 billion for the year, net income attributable to Blackstone Inc. of $1.0 billion for Q4 and $3.0 billion for FY2025, and total revenues of $4.36 billion in Q4 ($14.45 billion for the year). The firm highlighted record inflows, sizable performance revenues, and continued capital deployment across its strategies.

Dividend

Blackstone Inc declared a quarterly dividend of $1.49 per common share (record date Feb 9, 2026; payable Feb 17, 2026). The company noted $2.0 billion will be distributed to shareholders with respect to the fourth quarter and $6.2 billion for the year through dividends and share repurchases (Q4 repurchases: 0.2 million shares; FY repurchases: 0.8 million shares).

Fee‑Related & Distributable Earnings

Fee Related Earnings (FRE) were $1.5 billion in Q4 2025 ($1.25/share) and $5.7 billion for FY2025 ($4.67/share). Distributable Earnings (DE) were $2.2 billion in Q4 ($1.75/share) and $7.1 billion for the year ($5.57/share). Net Accrued Performance Revenues were $6.7 billion in Q4 ($5.49/share), driven by appreciation across strategies.

AUM and Inflows

Total Assets Under Management (AUM) reached $1,274.9 billion at quarter end (up 13% YoY). Fee‑Earning AUM was $921.7 billion (up 11% YoY). Perpetual Capital AUM was $523.6 billion (up 18% YoY) with Fee‑Earning Perpetual Capital AUM of $445.8 billion. Inflows were $71.5 billion in Q4 (the highest in over three years) and $239.4 billion for FY2025.

Deployment & Realizations

Blackstone deployed $42.2 billion in Q4 and $138.2 billion for the year; an additional $23.0 billion of commitments were not yet deployed at quarter end. Realizations totaled $46.1 billion in Q4 and $125.6 billion for FY2025, supporting distributions and capital returns.

Investment Performance

Appreciation across strategies contributed to the strong performance revenues. Notable strategy returns included Corporate Private Equity +5.0% in Q4 (+13.8% FY), Infrastructure +8.4% in Q4 (+23.5% FY), Core+ Real Estate +1.5% in Q4 (3.0% FY) while Opportunistic Real Estate declined modestly in Q4 (-0.3%). Credit strategies posted positive gross and net returns across the quarter and year.

Capital & Liquidity

Invested Performance Eligible AUM was $624.2 billion at quarter end. Total Dry Powder available for future investments was $198.3 billion, reflecting substantial deployment capacity across strategies.

Segment snapshots

At quarter end: Private Equity AUM $416.4 billion (↑18% YoY), Credit & Insurance AUM $443.0 billion (↑18% YoY), Real Estate AUM $319.3 billion (↑1% YoY), Multi‑Asset Investing AUM $96.2 billion (↑14% YoY). Total segment distributable earnings were $2.5 billion in Q4 and $7.9 billion for FY2025.