Blackstone Group reported $439.4 billion in assets under management as of June 30, a 2% dip from the quarter ended March 31 but up 18% year-over-year, according to the alternative investments firm's earnings report Thursday.
Blackstone Group attributed the gain in AUM for the 12-month period to $120 billion in inflows. Inflows were $20 billion for the quarter, and $18.2 billion for the quarter ended March 31.
"We continue to expand our leading position in a growth industry, and we now head into another fundraising supercycle with our global flagship funds beginning to raise capital in the next several months." Stephen A. Schwarzman, chairman and CEO, said in the earnings report.
Blackstone deployed $8.4 billion in the quarter and $18.5 billion in the year ended June 30, compared to $10.1 billion in capital for the quarter ended March 31.
Blackstone's credit business had the most AUM growth, increasing 30% year-over-year to $123.1 billion from $94.5 billion as of June 30, 2017, despite the conclusion of GSO's investment subadvisory relationship with FS Investments in December, the earnings report noted.