Blackstone Group reported $387.4 billion in assets under management as of Sept. 30, up 4.4% from three months earlier and up 7.3% from a year earlier, according to its earnings report released Thursday.
Blackstone's AUM growth, which resulted in a record high for the company, was due to a combination of fundraising, fund appreciation and organic platform expansion, the earnings report said.
Inflows into Blackstone investment strategies were $19.7 billion for the quarter and $62.4 billion for the year ended Sept. 30. By comparison, Blackstone had inflows of $12.1 billion in the prior quarter and $57.4 billion for the year ended June 30.
Real estate had the most AUM, at $111.3 billion as of Sept. 30, up 7% from June 30 and up 9.2% from Sept. 30, 2016.
Blackstone's second-largest business segment, private equity, reported $10.5 billion in assets as of Sept. 30, an increase of 2.5% from three months earlier and up 2.8% from a year earlier.