Blackstone Inc. Q3 2025 Earnings Recap

Blackstone delivered robust third quarter results with distributable earnings surging nearly 50% year-over-year to $1.9 billion, driven by record fundraising and strong performance across multiple sectors.

Key Takeaways

• Distributable earnings reached $1.9 billion, or $1.52 per share, supported by a 26% increase in fee-related earnings.
• Inflows totaled $54 billion, marking the fourth consecutive quarter above $50 billion, contributing to an AUM of $1.24 trillion — an industry record.
• Blackstone successfully executed three IPOs in the last quarter, with a promising pipeline indicating potential record issuance in the next year.
• The firm is well-positioned for growth, with increasing investor appetite for private market solutions and a favorable capital market environment supporting future realizations and deployments.