Blackstone reported strong first-quarter results with significant inflows and positive appreciation across most strategies, demonstrating resilience in a turbulent environment. The company's all-weather model effectively protected against disruptions while capitalizing on investment opportunities.
Total AUM increased 12% year-over-year to $1,304.0 billion, driven by $68.5 billion of inflows in the quarter and $246.3 billion over the LTM.
positiveFee Related Earnings (FRE) increased 23% to $1.5 billion for the quarter and 12% to $6.0 billion over the LTM.
positiveDistributable Earnings (DE) increased 25% to $1.8 billion for the quarter and 22% to $7.5 billion over the LTM.
positiveDeclared a quarterly dividend of $1.16 per share, reflecting a commitment to returning capital to shareholders.
positiveRealized Principal Investment Income (Loss) in Real Estate segment decreased significantly by 88% YoY to $1,535 thousand in the LTM period.
attentionSegment Revenues in Credit & Insurance decreased 11% YoY to $745.3 billion in the quarter.
attentionFee Related Earnings in Credit & Insurance decreased 4% YoY to $331.8 billion in the quarter.
attentionSegment Distributable Earnings in Credit & Insurance decreased 26% YoY to $373.1 billion in the quarter.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Real Estate | N/A | — | — | — |
Private Equity | N/A | — | — | — |
Credit & Insurance | N/A | — | — | — |
Multi-Asset Investing | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
| Metric | Value | Period | Specificity | vs Prior |
|---|---|---|---|---|
| net_lease_portfolio_size | at least 10% of our portfolio over time | over time | directional | New |
$700 million · early January
$1 billion · Later in January
In March
funded by debt offering proceeds
Net Debt to Adjusted EBITDA: 1x to 1.5x
$1.8 billion · quarter end
47 cents per share · first quarter
funded by cash on hand and a $2B term loan
Blackstone delivered outstanding first-quarter results despite the turbulent environment, highlighted by almost $70 billion of inflows and positive appreciation across nearly all of our flagship strategies.
Our all-weather model protects us in these times of disruption while also allowing us to invest where we see the greatest opportunity.
Total AUM increased to $1,304.0 billion, up 12% year-over-year, with $68.5 billion of inflows in the quarter and $246.3 billion over the LTM.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.