Blackstone Group on Thursday reported $564.3 billion assets under management as of June 30, a 4.9% increase from March 31 and up 3% year-over-year.
Stephen A. Schwarzman, chairman and CEO, attributed the what he called a strong quarter to a sharp rebound in investment performance, deployment of capital especially into the public markets and $20 billion in inflows.
Blackstone has $156 billion in dry powder, which Mr. Schwarzman said was an industry record.
The firm invested about $11 billion in public market opportunities resulting from the pandemic.
However, private market opportunities resulting from COVID-19 crisis will take longer to materialize, said Jonathan Gray, president and chief operating officer, during an earnings call.
The private market investment opportunities "are still ahead of us," Mr. Gray said. Private companies will use their own capital first before some of them hit a wall and in real estate, foreclosures take time, he said.