Blackstone has posted first-quarter distributable earnings of $1.41bn, up 11% year-on-year and ahead of analyst expectations, fuelled by strong performance in its private equity and credit segments.

Private equity contributed $564.6m in earnings, a 13% increase, buoyed by $6.5bn in asset sales during the quarter. Blackstone’s credit and insurance arm also saw continued momentum, attracting half of the $61.6bn in total quarterly inflows. The firm’s assets under management rose 10% to $1.17tn.

“Our scale and flexibility continue to position us well in a volatile environment,” said Blackstone CEO Stephen Schwarzman. Despite policy uncertainty and trade tensions, the firm remains active across dealmaking verticals, especially in credit where demand for flexible financing has led borrowers to seek alternatives to traditional banks.

While real estate was a drag on results due to elevated interest rates, Blackstone’s core private equity and credit strategies delivered resilient growth. The firm’s ability to selectively execute exits and capture capital flows highlights its role as a market leader in alternative asset management.

Source: Reuters