Blackstone is on the brink of becoming the first ever private equity firm to have over $1tn in assets under management, with analysts expecting the firm to pass that milestone when it reports its latest quarterly results on Thursday, according to a report by business Standard.
Blackstone is on the brink of becoming the first ever private equity firm to have over $1tn in assets under management, with analysts expecting the firm to pass that milestone when it reports its latest quarterly results on Thursday, according to a report by business Standard.
The firm debuted in 1985, running just $400,000, but has since become a giant in the industry by expanding operations beyond its buyout roots and leading a shift by private equity firms into the wider world of alternative investments.
Over the past five years, Blackstone has roughly doubled its assets and took in roughly $1 trillion of net flows from investors between 2012 and last year.
Other firms have designs on joining Blackstone in the $1tn-plus club, with Brookfield Asset Management Ltd reportedly aiming to hit at least $1.5tn in the next five years, and Apollo Global Management targeting $1tn by 2026.
