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Blackstone’s property underneath administration hit a report $1.1tn (£0.85tn) within the third quarter, with its boss Steve Schwarzman heralding a “broad-based acceleration throughout our enterprise”.
The choice asset supervisor noticed web earnings rise to $1.6bn, up from simply over $920m within the third quarter of 2023.
It noticed $40.5bn of inflows in the course of the quarter, whereas the worth of its funds grew.
Learn extra: Blackstone sees $30tn personal credit score alternative
“We invested or dedicated $54bn within the quarter – the very best in over two years – and deployed $123bn within the final 12 months since the price of capital peaked,” stated Schwarzman.
“The third quarter additionally represented the very best quantity of general fund appreciation in three years, and our restricted companions entrusted us with over $40bn of inflows.”
Learn extra: Blackstone and Generali to launch French retail personal debt fund
Blackstone’s personal credit score portfolio returned 3.6 per cent over the quarter, bringing its annual returns as much as 16.7 per cent.
The asset supervisor raised $8.9bn for its international direct lending technique over the quarter, and $4.3bn for infrastructure and asset-based credit score methods.
In the meantime, its fifth opportunistic personal credit score technique had $2.2bn of inflows within the quarter, bringing whole capital commitments to $2.4bn.
Learn extra: Blackstone boss cites 0.3pc default fee on personal credit score
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