Blackstone Group

What Blackstone Group does

Blackstone Inc. (NYSE: BX), founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and listed via IPO in 2007, is the world's largest alternative asset manager with $1.3 trillion in assets under management as of March 31, 2026. The firm operates a multi-strategy investment platform spanning private equity, real estate, credit and insurance (BXCI), multi-asset investing (BXMA), strategic partners (secondaries), tactical opportunities, infrastructure, life sciences, growth (BXG), energy transition, and technology and innovations (BXTI). It serves institutional investors (including pension systems representing 135+ million pensioners and contributing to $445B in lifetime investor gains), financial advisors and individual investors through the $310B private wealth channel (BREIT, BCRED, BMACX, BXPE, BXSL), family offices and endowments, insurance companies, and now defined-contribution/401(k) plans. The firm runs a global footprint across 30+ offices in the Americas, EMEA, and APAC.

Revenue is generated through three principal streams: recurring management fees on committed/invested capital and NAV (record $2.1B in quarterly management fees with 23% YoY fee-related earnings growth,), performance fees and carried interest from portfolio realizations (Q2 2026 projected combined realized performance revenues and principal investment income exceeding $500M), and principal investment income on balance sheet co-investments. New fee structures for 401(k) semiliquid funds (choice between incentive fees and flat fees) signal early fee competition in retirement channels. Distribution is multi-channel: an Institutional Client Solutions group serves LPs globally; a Private Wealth group serves financial advisors and RIAs; an Insurance Solutions group serves BXCI clients; and a Defined Contribution channel addresses retirement savers.

Technology and operations are anchored by Blackstone Technology and Innovations (BXTI) under CTO John Stecher, the Blackstone Operating Team led by Rodney Zemmel applying data science and AI transformation across 250+ portfolio companies, and an emerging AI infrastructure thesis executed via the $35B AI XPV Platform (Apollo/Broadcom partnership financing Anthropic compute), a $30B commitment to Japan AI data centers, and a $5B Google TPU partnership. Subsidiaries include BXMT, BCRED, BREIT, BMACX, BXSL, QTS, AirTrunk, Indurent, Everlake Life Group, and Priority Software. Blackstone Inc. is publicly traded with no parent company.

Name

Blackstone Group

Legal name

Blackstone Inc.

Website

https://blackstone.com

Company type

Public

Founded year

1985

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Blackstone Inc. (NYSE: BX) is the world's largest alternative asset manager with $1.3 trillion in AUM, operating across private equity, real estate, credit and insurance, infrastructure, and multi-asset strategies for institutional investors, financial advisors, insurers, family offices, and individual savers globally.

Ownership category

akta.pro rank

Product category

Alternative Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Other Financial Investment Activities (5239), All Other Financial Investment Activities (52399), Other Financial Vehicles (525990)

SIC

Finance Services (6199), Investment Advice (6282), Investors, Nec (6799)

akta.pro primary industry

Energy & Sustainability / Climate Growth Equity (FSANACAG)

akta.pro secondary industries

Insurance General Accounts (Institutional Asset Owners) (FSAAAGAG), Small-Cap / Micro-Buyout (FSANABAD), Managed Account / SMA Multi-Manager Platforms (FSANAGAL), Bank-Affiliated Retail Wealth Management (FSAAAAAB)

Keywords

• Alternative asset management
• Private equity investing
• Real estate investment
• Private credit funds
• Institutional investment management

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices29 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Management Fees: Recurring management fees charged on assets under management across private equity, real estate, credit & insurance, and multi-asset investing businesses. Blackstone reported record $2.1 billion in total management fees with 23% year-over-year fee-related earnings growth.
2. Performance Fees / Realized Performance Revenues: Performance-based fees and carried interest from portfolio company exits and realizations. Blackstone projects combined realized performance revenues and principal investment income to exceed $500 million in Q2 2026.
3. Investment Income / Principal Investments: Income from Blackstone's principal investments in its own funds, including co-investments and balance sheet investments across portfolio companies.
4. Dividend Income from BXMT: Blackstone Mortgage Trust (BXMT) declared a $0.47 per share dividend for Q2 2026, reflecting income from senior loans collateralized by commercial real estate in North America, Europe, and Australia.
5. Asset-Based Lending / Specialty Credit: Revenue from SablePointe Credit Strategies asset-based lending platform and other specialty credit facilities, including origination of senior secured credit facilities for corporate borrowers.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels8 records

Core offering

Blackstone Group is the world's largest alternative asset manager, deploying capital across private equity, real estate, credit and insurance, multi-asset investing, infrastructure, life sciences, growth, and energy transition strategies. With more than $1.3 trillion in assets under management, the firm serves institutional investors, financial advisors, individual investors, family offices, and insurers through both commingled funds and separately managed accounts.

Product overview

Blackstone Group operates a multi-strategy alternative asset management platform rather than a single unified product: a core set of investing businesses (Private Equity, Real Estate, Credit & Insurance, Multi-Asset Investing / BXMA, Strategic Partners, Tactical Opportunities, Infrastructure, Life Sciences, Growth / BXG, Energy Transition Partners, Technology & Innovations / BXTI) sits alongside a wealth-channel distribution layer of non-traded and public vehicles (BREIT for real estate, BCRED and BMACX for credit, BXPE for private equity, BXSL secured lending BDC) and an internal Operating Team that delivers data science and AI transformation to portfolio companies. Recent additions such as the SablePointe Credit Strategies asset-based lending platform and the AI XPV Platform with Apollo and Broadcom extend the credit and infrastructure franchises, while a $30B commitment to AI data centers in Japan ties the infrastructure business to AI compute demand.

Differentiator

Problem solved

Functional benefit

Brands

• Blackstone Real Estate Income Trust (BREIT): Non-traded real estate investment trust that invests in income-producing real estate. Marketed to individual investors through financial advisors.
• Blackstone Private Credit Fund (BCRED)
• Blackstone Private Multi-Asset Credit and Income Fund (BMACX)
• Blackstone Credit & Insurance (BXCI)
• Blackstone Multi-Asset Investing (BXMA)
• Blackstone Growth (BXG)
• Blackstone Strategic Partners
• Blackstone Tactical Opportunities (Tac Opps)
• Blackstone Infrastructure
• Blackstone Life Sciences
• Blackstone Energy Transition Partners
• Blackstone Mortgage Trust (BXMT)
• Blackstone Secured Lending Fund (BXSL)
• Harvest Fund Advisors
• SablePointe Credit Strategies

Products and services

• Private Equity

Quantifiable outcome

• $445 billion in lifetime gains for investors
• +7 more outcomes

Named customers21 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability7 records

Feature5 records

Partnerships

Twelve partnerships are on record, tiered minor, flagship, major and core.

• Obol (AI startup)minorStrategic or Co-development Partner · 25 June 2026Priority, an Israeli enterprise management software company controlled by Blackstone, acquired AI-powered cash flow management startup Obol in a deal valued at tens of millions of shekels. Obol serves approximately 100 customers and employs around 20 people.
• GoogleflagshipStrategic or Co-development Partner · 22 June 2026Blackstone has a $5 billion partnership with Google to support Google's commercial expansion of Tensor Processing Units (TPUs) and challenge Nvidia's dominance in the AI chip market. Also includes a $3.2 billion guarantee for the Lake Mariner AI data-center project in New York. Part of broader AI XPV Platform initiative.
• Trafford Council and OTRMDCmajorStrategic or Co-development Partner · 22 June 2026Manchester United, with Blackstone as a key land seller through Indurent, is collaborating with Trafford Council and the Old Trafford Regeneration Mayoral Development Corporation on a 370-acre regeneration project delivering 15,000 homes, 48,000 local jobs, and over £7 billion annually to the UK economy.
• BerkadiaminorImplementation/ SI/ Consulting Partner · 22 June 2026Berkadia arranged a $124.65 million loan from Blackstone on behalf of Harbor Group International affiliates for the refinancing of Alesio Urban Center in Irving, Texas.
• AnthropicflagshipStrategic or Co-development Partner · 21 June 2026Blackstone is a key investor in Anthropic's $65 billion Series H funding round at a $965 billion post-money valuation, alongside T. Rowe Price, Temasek, Amazon, and Alphabet. The investment supports Anthropic's enterprise AI growth and Claude Code AI coding assistant development.
• Clearwater AnalyticscoreTechnology or Integration · 17 June 2026Clearwater Analytics launched Total Portfolio Oversight developed in partnership with Blackstone. The platform currently supports over $10 trillion in global assets for institutional investment workflows. Includes three AI-enabled products: Clearwater Compass, Total Portfolio Oversight, and Fund Analytics.
• Nippon Life Insurance CompanyflagshipStrategic or Co-development Partner · 15 June 2026Nippon Life Insurance Company announced a comprehensive partnership with Blackstone to manage private credit and real estate investments, including a planned ¥1,500,000 million (¥1.5 trillion) commitment over five years and collaboration on roughly a dozen large urban properties.
• Apollo Global Management and BroadcomflagshipStrategic or Co-development Partner · 9 June 2026Apollo and Blackstone partnered with Broadcom to launch the AI XPV Platform, a $35 billion initiative providing over 1 gigawatt of AI compute infrastructure for Anthropic, with deployment at Fluidstack sites beginning mid-2026. The platform leverages Broadcom's custom AI XPUs and networking solutions to support more than 20 gigawatts of AI compute capacity through 2028.
• BroadcomflagshipStrategic or Co-development Partner · 9 June 2026Broadcom's AI XPV Platform partnership with Apollo and Blackstone finances over 1 gigawatt of AI compute infrastructure for Anthropic through special purpose vehicles. Broadcom provides custom AI XPUs and networking solutions, with $30 billion in residual value guarantees.
• Aditya Birla Group / Times of India / Bolt VenturesflagshipStrategic or Co-development Partner · 1 March 2026Consortium led by Aditya Birla Group, Times of India, Bolt Ventures and Blackstone completed the $1.78 billion acquisition of Royal Challengers Bengaluru (RCB) IPL franchise in March 2026, ending United Spirits' tenure as owners.
• Tommy Fleetwood (Global Brand Ambassador)flagshipGTM or Marketing Partner · 28 October 2025Tommy Fleetwood announced as Blackstone's first Global Brand Ambassador on March 31, 2026. The partnership represents a flagship marketing collaboration for the firm.
• Merck Mercuriadis (Hipgnosis founder)coreStrategic or Co-development Partner · 29 April 2024Blackstone's $1.6 billion takeover of Hipgnosis Songs Fund potentially retains founder Merck Mercuriadis in an advisory role. The deal emerged from a competitive bidding process that included an earlier offer from Concord Music.

Scale indicators14 records

Recent moves9 records

Expansion highlights7 records

Direct peers

• KKR & Co. KKR is a global alternative asset manager with private equity, real estate, credit and infrastructure franchises of comparable scale; it directly competes with Blackstone for institutional capital, large LBOs (e.g., bidding alongside Blackstone on Everlence), and private wealth distribution.
• Apollo Global Management: Apollo is a direct peer in private equity, credit/insurance and retirement services, and notably co-invests with Blackstone on flagship deals such as the $35B AI XPV Platform, the Medallia restructuring and the Google TPU partnership.
• Brookfield Asset Management: Brookfield is a direct competitor across real estate, infrastructure (including data centers and energy transition) and credit, and recently acquired a residential portfolio from Blackstone; it is also a peer in the listed alternative asset manager group.
• Ares Management: Ares is a leading publicly traded alternative asset manager with a credit-heavy platform that competes head-to-head with BXCI for private credit mandates and wealth-channel distribution (e.g., interval funds).
• Carlyle Group: Carlyle is a publicly traded global alternative asset manager with parallel private equity, credit and real estate strategies, often co-bidding or competing with Blackstone on mid- to large-cap deals and seeking the same institutional and private wealth LP base.
• CVC Capital Partners: CVC is a large European-rooted private equity and credit manager that recently went public, competing with Blackstone for global buyouts (e.g., shortlisted alongside Blackstone for Volkswagen's Everlence division).
• Bain Capital: Bain Capital is a global alternative asset manager with private equity, credit and real estate franchises, bidding alongside Blackstone for large assets such as TEPCO capital alliances and Everlence, and pursuing adjacent growth, infrastructure and life sciences strategies.
• TPG Inc. TPG is a publicly traded alternative asset manager with private equity, growth and capital solutions strategies; it partnered with Blackstone on the $18B+ Hologic take-private and competes for the same large-cap healthcare and growth investments.
• EQT AB: EQT is a European-headquartered alternative asset manager with private equity, infrastructure and growth strategies, shortlisted alongside Blackstone for Everlence and pursuing similar thematic infrastructure and energy transition mandates.

Broad incumbents

• StepStone Group: StepStone is a global private markets investment firm focused on fund-of-funds, secondaries and co-investments, competing with Blackstone Strategic Partners for LP advisory and secondary mandates across institutional and private wealth channels.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/blackstone
• Facebookfacebook.com/blackstone
• LinkedInlinkedin.com/company/blackstoneinc
• Instagraminstagram.com/blackstone

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Subsidiaries15 records

Funding overview

Funding rounds3 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A205 records

Investments330 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Blackstone Group