Blackstone reported higher-than-expected profit for the first quarter of 2025, with distributable earnings growing 11% to $1.41 billion, or $1.09 per share, surpassing analyst estimates. Net income for the quarter was $614.9 million, or 80 cents per share.
The firm attracted $61.64 billion in inflows, boosting its assets under management (AUM) by 10% to $1.17 trillion. The credit and insurance segment accounted for about half of these inflows, while the private equity arm's distributable earnings rose 13% to $564.6 million, aided by $6.5 billion in asset sales.
However, CEO Stephen Schwarzman warned that 'uncertainty around tariffs and their potential impact on economic growth and inflation has dramatically impacted investor sentiment,' emphasizing that 'fast resolution is critical to mitigate risks.' The real estate arm's AUM declined by 6%, though President Jon Gray noted improved conversations with institutional partners, indicating an early recovery phase.
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