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Sep 30, 2023
BlackStone Q3 2023 Earnings Report
Blackstone demonstrated resilience in a challenging market environment, with flagship strategies outperforming public benchmarks and strategic capital deployment.
Key Takeaways
Blackstone reported resilient third-quarter results with investors benefiting from strong sector selection and flagship strategies outperforming public benchmarks. The company raised over $25 billion of capital and has $200 billion in dry powder to deploy.
GAAP Net Income was $921 million for the quarter and $2.3 billion year-to-date.
Fee Related Earnings (FRE) reached $1.1 billion ($0.92/share) in the quarter.
Distributable Earnings (DE) were $1.2 billion ($0.94/share) in the quarter.
Total Assets Under Management (AUM) amounted to $1,007.4 billion, a 6% increase year-over-year.
BlackStone
BlackStone
Forward Guidance
This presentation may contain forward-looking statements that reflect current views with respect to, among other things, operations, taxes, earnings and financial performance, share repurchases and dividends.
Positive Outlook
- Our investors continue to benefit from our strong sector selection.
- Nearly all of our flagship strategies outperformed public benchmarks.
- Our exceptional long-term track record.
- Unique breadth.
- The power of our brand allowed us to raise over $25 billion of capital.
Challenges Ahead
- Such forward-looking statements are subject to various risks and uncertainties.
- Important factors that could cause actual outcomes or results to differ materially from those indicated in these statements.
- Factors described under the section entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2022.
- These factors should not be construed as exhaustive.
- We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.