Blackstone Inc.

Blackstone Inc., trading as BX on the New York Stock Exchange, operates as the world's largest alternative asset manager with more than $1.3 trillion in total assets under management as of December 31, 2025. The firm manages global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries, and hedge funds on behalf of institutional investors, insurance companies, and individual investors worldwide. More information about the company is available at www.blackstone.com.

The company operates through four primary business segments. The Real Estate segment, managing $319.3 billion in assets, invests globally across opportunistic and core-plus real estate strategies, including the Blackstone Real Estate Partners platform, Blackstone Property Partners funds, and non-listed REITs such as Blackstone Real Estate Income Trust. The Private Equity segment manages $416.4 billion and encompasses corporate private equity strategies, infrastructure investments through Blackstone Infrastructure Partners, life sciences investing, growth equity platforms, and secondaries businesses including GP Stakes. The Credit & Insurance segment manages $443.0 billion through private and liquid corporate credit strategies, collateralized loan obligations, and specialized investment management services for insurance and reinsurance accounts. The Multi-Asset Investing segment manages $96.2 billion as a discretionary allocator to hedge funds and multi-asset portfolios.

Blackstone employs approximately 5,285 people, including 268 senior managing directors, operating from headquarters in New York and offices worldwide. The firm generates revenue through management fees based on assets under management and performance revenues including carried interest from investment funds and performance allocations from perpetual capital vehicles. The company has significantly expanded its private wealth business in recent years, offering investment products to high-net-worth and mass affluent individual investors through various distribution channels alongside its traditional institutional investor base. Perpetual capital strategies, representing assets with indefinite terms and limited redemption requirements, constitute a growing portion of the firm's overall business and revenue generation.