Euromoney Global Real Estate Awards 2023: The world’s best investment manager – Blackstone
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Awards

Euromoney Global Real Estate Awards 2023: The world’s best investment manager – Blackstone

Blackstone, the world’s largest alternatives asset manager, hit a new milestone in July when it reported in its second-quarter results that it had hit $1 trillion in assets under management. The firm’s net income rose to $601.3 million in the same quarter.

Chairman and chief executive Stephen Schwarzman said: “This milestone reflects the extraordinary trust we have developed in our investors – built through performance – as well as our distinctive position as innovator. We believe that we are in the early stages of the long-term growth of the alternatives industry, providing a vast opportunity for further expansion.”

In real estate, total AuM increased by 4% to $333.2 billion, with inflows of $7.9 billion in the quarter and $49.2 billion over the preceding 12 months.

The firm also hit another milestone in April when it announced the final close of its global real estate fund, Blackstone Real Estate Partners X, with $30.4 billion of total capital commitments – the largest real estate or private equity drawdown fund ever raised.

As

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