12-month inflows top $270 billion
Infrastructure, energy assets drive performance
Global private equity fund manager Blackstone posted solid third-quarter earnings despite ongoing market volatility.
Blackstone said Friday that its total capital inflows for the third quarter reached $63 billion. Cumulative inflows over the past 12 months surpassed $270 billion, the highest level in four years, with infrastructure and energy-related assets identified as the primary drivers of investment performance.
By segment, assets under management in the Private Wealth division rose 15 percent year-on-year to a record high of $330 billion. Third-quarter sales totaled approximately $9 billion. Blackstone also launched a new product for investors outside the United States, the Blackstone Private Markets Fund (BXPM).
In the Credit and Insurance segment (BXCI), insurance AUM grew 14 percent year-on-year to surpass $300 billion. The investment-grade private credit platform also expanded, with AUM climbing 24 percent year-on-year to approximately $150 billion.
Demand in the real estate segment is rising, led by data centers and logistics assets. Leasing activity at Blackstone's global data center platform is expected to reach three times its previous level this year, and its US logistics assets posted record leasing results in the third quarter.
In the AI and infrastructure segment, Blackstone is directing large-scale capital toward supply-demand imbalances in the market. The firm said it aims to generate long-term investment value under disciplined principles as capital demand grows alongside the expansion of the AI industry.
Blackstone Chairman and CEO Stephen Schwarzman said the firm's flagship investment strategies outperformed public market indexes and that positive momentum continued across key fundraising channels. "AI and energy infrastructure are the defining investment themes driving global economic growth today," he said, adding that Blackstone is leveraging its investment platform to provide investors with differentiated access to compelling opportunities.
Meanwhile, Blackstone has been strengthening its foothold in South Korea's real estate market. Blackstone Real Estate Partners, which launched a dedicated Korea real estate investment team three years ago and has consistently acquired core domestic assets, purchased two advanced logistics centers in Gimpo and Namyangju — key last-mile locations in the greater Seoul area — last year through Cube Industrial Asset Management. Including its investment in Sanha Logistics Park II in September, the firm has completed five deals in South Korea over the past 14 months, among them three logistics centers.
an@heraldcorp.com
