Blackstone’s open-ended infrastructure fund, Blackstone Infrastructure Partners (BIP), secured over $4bn (€3.3bn) in new commitments during Q4 2025, the firm announced during its earnings call, according to a report by IPE.
BIP’s assets under management grew 40% year-on-year to $77bn, driven by strong investment performance. The report cites Blackstone President and COO Jonathan Gray as highlighting that since its launch seven years ago, the strategy has delivered 18% net annual returns. Gray highlighted broad-based gains across digital, energy, and transportation infrastructure, with the firm’s QTS data centre business identified as a top contributor to returns, alongside real estate holdings.
Michael Chae, vice-chairman and COO, noted that infrastructure valuations also rose, with the sector appreciating 8.4% in Q4 and 24% for the full year of 2025, underscoring continued investor appetite for the asset class.
