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Blackstone’s $1 trillion hoard propels it beyond US peers

The sprawl of Blackstone—already the world’s largest alternative assets manager—reached a new milestone in Q2 2023 as the firm’s investments surpassed $1 trillion in AUM.

Blackstone CEO Stephen Schwarzman (Horacio Villalobos/Getty Images)


The sprawl of Blackstone—already the world’s largest manager of alternative assets—has reached a new milestone as its AUM tops the $1 trillion mark.

 

AUM represents a particularly important figure for publicly traded private equity firms and alternatives managers, as more assets beget more management fees, which can boost shareholder distributions.

Credit and insurance investments were a major driver of the firm’s growth over the past 12 months. Blackstone said in its earnings call on Thursday that those strategies rose 11% year-over-year, surpassing PE and real estate, which grew by 7% and 4%, respectively.

The firm’s AUM is roughly double the size of the next-largest US-based firm, KKR.

“There are many advantages that come from our unique scale,” CEO Stephen Schwarzman said. “With our portfolio of over 230 companies, 12,000 real estate assets and one of the largest lending businesses in the world, we believe that we have more information than just about anyone competing with us.”

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    Emily Burleson is a Seattle-based writer covering private equity for PitchBook News. She has previously written about the energy industry for the Houston Business Journal and the petrochemical markets for S&P Global Commodity Insights. Emily is a graduate of the University of Houston, where she studied history and journalism.

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