Blackstone Exceeds Expectations and Achieves Record Figures in the Quarter

The world's leading investment firm Blackstone has exceeded Wall Street's forecasts in the latest quarter. Despite past challenges due to high interest rates, the New York-based company has increased its assets under management to a record $1.1 trillion and raised the valuation of its funds. In the third quarter, the company recorded inflows of $41 billion and deployed $54 billion in capital. The increase in investment activity correlates with the interest rate adjustment policy of the U.S. Federal Reserve, which simultaneously fuels a more optimistic economic outlook. Under the leadership of CEO Steve Schwarzman, Blackstone experienced a remarkable increase of 6.2% in its private equity funds and 5.5% in its infrastructure funds. The company's distributable earnings amounted to $1.3 billion in the third quarter, representing a 6% increase compared to the previous year and surpassing analysts' estimates. Noteworthy is the emerging borrowing, which led the fundraising in the quarter and surged the private wealth assets under management to $250 billion. Significant transactions included the $16 billion purchase of the Australian firm AirTrunk and the acquisition of the U.S. software company Smartsheet valued at $8.4 billion. Blackstone's market value now amounts to $195 billion, with the stock reaching a new high of $159.71.