Blackstone reported assets under management of $730.7 billion as of Sept. 30, up 6.8% from June 30 and up 25% from $584.4 billion a year earlier.
"Today, Blackstone reported the best results in our 36-year history," with distributable earnings doubling year-over-year to $1.6 billion, "extraordinary" investment performance and the 25% 12-month AUM increase, Chairman and CEO Stephen A. Schwarzman said Thursday during an earnings call. Over the 12 months ended June 30, Blackstone's private equity funds appreciated 49% and its opportunistic real estate funds appreciated 36%, he said.
At the same time, Blackstone has been investing capital at a rapid pace, which is shortening the time between fundraising new funds for some of the firm's flagship fund series, Mr. Schwarzman said.
Total net inflows were $47 billion in the third quarter, and $148 billion over the 12 months ended Sept. 30, nearly half of which were perpetual, said Jonathan Gray, Blackstone's president and chief operating officer, during the same earnings call.
For example, Blackstone credit business had net inflows of $65 billion for the year ended Sept. 30, Mr. Gray said.
Blackstone invested $37.1 billion in the third quarter and $104.1 billion in the year ended Sept. 30. Blackstone's $14 billion open-end infrastructure fund has committed about 80% of its committed capital and has been reopened for fundraising.