Blackstone Sets Industry Record With $1.2 Trillion In Assets

Blackstone (NYSE:BX) shares surged Thursday after the alternative asset manager announced a powerful second quarter, handily surpassing analyst expectations with a 22% year-over-year (Y/Y) jump in segment revenues.

The strong performance was fueled by a 25% increase in distributable earnings and robust growth across its key business segments, pushing the firm’s total assets under management to a new industry record of over $1.2 trillion.

Blackstone reported second-quarter fiscal year segment revenues of $3.075 billion, up 22% Y/Y, beating the analyst consensus estimate of $2.778 billion. 

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Distributable earnings (DE) rose 25% Y/Y ...