Investments, Realizations, and Fundraising Are Improving at Blackstone With the Market Recovery

We consider Blackstone to be the preeminent alternative-asset manager, with $1.076 trillion in total assets under management, including $808.7 billion in fee-earning AUM, at the end of June 2024. The company has scale in all four business segments: private equity (25% of fee-earning AUM and 28% of base management fees), real estate (37% and 42%), credit and insurance (29% and 23%), and multi-asset investing (9% and 7%). Blackstone has also built out a large base of employees—including in-house executives, consultants, and advisors—that have decades of industry experience and can revitalize a company or property through cost-cutting, acquisitions, or other strategic maneuvers.