Blackstone Q1 Earnings Jump 25% to $1.76B, Beating Estimates

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Gate News message, April 24 — Blackstone reported first-quarter earnings of $1.76 billion, up 25% year-over-year and exceeding analyst expectations. The firm deployed nearly $36 billion in capital during the quarter and drew $68.5 billion from investors.

Private equity distributable earnings surged 75% to $985 million, while credit and insurance earnings declined 26% to $373 million. Blackstone Credit and Opportunities Fund (BCRED) processed $3.8 billion in redemptions last month, representing 7.9% of net assets, and Blackstone shares fell as much as 5.4%.

The firm has filed documents for nine initial public offerings across the United States, Europe, and Asia. Blackstone’s strong private equity performance reflects its strategic focus on AI infrastructure, including data center operators, power systems, and GPU infrastructure providers. The firm acquired QTS Data Centers in 2021; since then, leased capacity has increased 14-fold, with QTS now accounting for 20.4% of real estate asset value in Blackstone Real Estate Income Trust (BREIT).

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