BX 8-K Current Reports

Blackstone Inc. 8-K Report, Financial Results (Oct 22, 2026)

Blackstone Inc. (BX) reported its third quarter 2026 financial results on October 22, 2026. The company showcased strong performance despite a volatile external environment, with flagship strategies outperforming public market indices and significant inflows of $63 billion, indicating positive momentum across fundraising channels. Key financial metrics highlight robust operational performance, with Fee Related Earnings (FRE) reaching $1.6 billion for the quarter ($1.26/share) and Distributable Earnings (DE) at $1.7 billion ($1.32/share). The company also declared a quarterly dividend of $1.12 per common share, underscoring its commitment to returning capital to shareholders. Blackstone's total Assets Under Management (AUM) grew to $1,368.3 billion, up 10% year-over-year, driven by substantial inflows across its diverse investment strategies.

Oct 22, 2026 8-K

Leadership Changes

Blackstone Inc. 8-K Report, Executive Changes (Oct 15, 2026)

Blackstone Inc. (BX) has announced the upcoming retirement of Joseph Baratta from his position as a director on the Board, effective December 31, 2026. Mr. Baratta will continue to serve in his current capacity until this date, allowing for a smooth transition. This departure will result in a reduction of the Board's size from eight to seven members.

Oct 15, 2026 8-K

Blackstone Inc. 8-K Report, Regulation FD Disclosure (Sep 22, 2026)

On September 22, 2026, Blackstone (BX) furnished an 8-K under Item 7.01 (Regulation FD) attaching a press release with a preliminary, intra-quarter update on realization activity for the period July 1, 2026 through September 22, 2026. Blackstone expects to record total Realized Performance Revenues and total Realized Principal Investment Income in excess of $350 million for that period, with roughly 90% of that amount coming from Realized Performance Revenues. The estimate includes revenue from investment realizations closed to date in the third quarter, plus certain non-fee-related incentive fees and other investment income expected to be realized at quarter end. The disclosure is explicitly preliminary and limited in scope. Blackstone states that the figure is not a prediction of total third-quarter Realized Performance Revenues, Realized Principal Investment Income, or Segment Revenues, and that full-quarter results may differ materially. It excludes fee income, expenses, any realizations after September 22, and any further gains or losses for the remainder of the quarter. It is also not indicative of results for the full year 2026. For investors, the update is a meaningful signal of realization momentum heading into quarter end, since realizations drive the lumpy performance revenue and principal investment income that can swing reported earnings. Still, the figure should be treated as a partial, forward-dated snapshot rather than a guide to Q3 or annual results. The filing does not disclose a specific prior-year comparison or an updated full-year outlook, so investors should await the Q3 2026 earnings release for complete financial results.

Sep 22, 2026 8-K

Blackstone Inc. 8-K Report, Financial Results (Jul 23, 2026)

Blackstone (BX) reported second quarter 2026 results on July 23, 2026, with strong growth in earnings and capital raising. GAAP Net Income was $2.4 billion for the quarter ($1.2 billion attributable to Blackstone Inc.), up from $1.6 billion and $764 million a year earlier, and GAAP diluted EPS rose to $1.54 from $0.98. Non-GAAP results were stronger still: Fee Related Earnings (FRE) reached $1.8 billion ($1.43 per share), up 22% year over year, and Distributable Earnings (DE) were $2.0 billion ($1.52 per share), up 26%. Management highlighted approximately $68.3 billion of quarterly inflows, which is roughly 16% of the $1.35 trillion of total AUM. Performance-driven revenue was the main engine. Realized performance revenues rose 32% to $731 million, and Net Accrued Performance Revenues climbed to $7.5 billion ($6.00 per share), up 13% year over year and 7% quarter over quarter, supported by appreciation in Infrastructure, Secondaries and Corporate Private Equity. Total AUM grew 11% year over year to $1,346.3 billion, Fee-Earning AUM grew 8% to $961.6 billion, and Perpetual Capital AUM grew 15% to $555.6 billion. Management attributes this to its AI-related investment themes, though the filing provides limited detail on those exposures. Real Estate was the notable soft spot, with Opportunistic funds declining 1.4% over the LTM and Real Estate Fee-Earning AUM down 3%. For shareholders, the Board declared a quarterly dividend of $1.29 per share, payable August 10, 2026 to holders of record on August 3, 2026. Blackstone ended the quarter with $22.7 billion of cash and net investments ($18.23 per share), a $4.3 billion revolver ($3.5 billion undrawn), and A+/A+ ratings. Important caveats: all figures are preliminary and unaudited, the results are furnished rather than filed under Item 2.02, and the performance-revenue-heavy earnings mix can be volatile. Realized Principal Investment Income fell 60% year to date, and Credit & Insurance Segment DE declined 6% in the quarter.

Jul 23, 2026 8-K

Blackstone Inc. 8-K Report, Regulation FD Disclosure (Jun 23, 2026)

On June 23, 2026, Blackstone Inc. (NYSE: BX) furnished an 8-K under Item 7.01 (Regulation FD) attaching a press release that gives an intra-quarter preview of realization activity for the period April 1, 2026 through June 23, 2026. Blackstone preliminarily expects to record total Realized Performance Revenues and total Realized Principal Investment Income of more than $500 million for that window, almost entirely Realized Performance Revenues. The estimate includes certain non-fee-related incentive fees and other investment income expected to be realized at quarter end, in addition to investment realizations already closed in the second quarter. Investors should read this figure narrowly. The company states explicitly that the estimate is not a prediction of full-quarter Realized Performance Revenues, Realized Principal Investment Income, or Segment Revenues for the quarter ending June 30, 2026. It excludes fee income, expenses, any realizations after June 23, and any further gains or losses for the rest of the quarter. It also says the figure is not indicative of results for any other period, including fiscal 2026. The disclosure is therefore a partial, early indicator of realization momentum rather than a guidance update or a complete earnings signal. The filing is informational and carries no new financial statements, guidance, or financing terms. Its market relevance lies in signaling that exit and realization activity picked up during the second quarter, which matters for monetization-driven earnings in Blackstone's performance-fee and principal investment businesses. Forward-looking caveats point to the 2025 Form 10-K risk factors and to significant market developments after June 23, 2026 that could change outcomes.

Jun 23, 2026 8-K

Blackstone Inc. 8-K Report, Financial Results (Apr 23, 2026)

Blackstone (BX) reported first quarter 2026 results on April 23, 2026, with strong headline growth in its fee-based and realization-driven earnings. GAAP Net Income was $1.3 billion for the quarter ($6.1 billion LTM), and GAAP Net Income Attributable to Blackstone Inc. was $650 million ($0.83 per share basic and diluted, up from $0.80 a year earlier). Non-GAAP measures were the main story: Fee Related Earnings rose 23% year-over-year to $1.5 billion ($1.26/share), and Distributable Earnings rose 25% to $1.8 billion ($1.36/share). Total Segment Distributable Earnings were $2.0 billion, up 23%. Assets under management reached a record $1,304.0 billion, up 12% year-over-year, supported by $68.5 billion of quarterly inflows ($246.3 billion LTM) and $35.6 billion of deployment. Net Accrued Performance Revenues rose 4% quarter-over-quarter to $7.0 billion ($5.69/share), reflecting appreciation in Private Equity (Infrastructure +7.8%, Corporate Private Equity +3.2%) and Multi-Asset Investing, partly offset by a decline in Opportunistic Real Estate (-0.9%). Realized Performance Revenues grew 70% to $780 million, though Real Estate and Credit performance was weaker. The company declared a quarterly dividend of $1.16 per share (record date May 4, 2026; payment May 11, 2026), up from $0.93 a year earlier, and returned roughly $1.5 billion to shareholders for the quarter. Balance sheet metrics remain solid, with $11.4 billion of total cash and corporate treasury, $21.3 billion of cash and net investments ($17.32/share), and A+/A+ ratings. Note that the figures are preliminary and unaudited, and the filing itself is a Form 8-K furnishing the press release under Item 2.02.

Apr 23, 2026 8-K

Blackstone Inc. 8-K Report, Regulation FD Disclosure (Mar 24, 2026)

On March 24, 2026, Blackstone Inc. (BX) furnished an 8-K under Item 7.01 (Regulation FD) attaching a press release that gives an intra-quarter estimate of realization activity for the period January 1, 2026 to March 24, 2026. Blackstone preliminarily expects to record total Realized Performance Revenues and total Realized Principal Investment Income of more than $680 million for that period, comprised almost entirely of Realized Performance Revenues. The estimate includes revenue from investment realizations closed to date in the first quarter, plus certain non-fee-related incentive fees and other investment income expected to be realized at quarter end. Investors should read this as a partial, preliminary datapoint rather than a full-quarter forecast. The company explicitly states the figure is not a prediction of total Realized Performance Revenues, total Realized Principal Investment Income, or total Segment Revenues for the quarter ending March 31, 2026. It excludes fee income, expenses, any realizations after March 24, and any further gains or losses for the rest of the quarter, and it is not indicative of 2026 full-year results. Results for the full quarter may differ materially. The disclosure is primarily a signal on the strength of monetizations in the first quarter, which matter to alternative asset managers because realized performance revenues (carried interest and incentive fees) are lumpy and tied to asset sales and exits. The 8-K itself contains no change in guidance, no financial statements, and no new risk disclosures beyond a reference to the risk factors in the 2025 Form 10-K. The information is furnished, not filed, so it is not subject to Section 18 liability unless specifically incorporated by reference elsewhere.

Mar 24, 2026 8-K

Blackstone Inc. 8-K Report, Financial Results (Jan 29, 2026)

Blackstone (BX) reported fourth quarter and full year 2025 results on January 29, 2026, in an 8-K furnishing Exhibit 99.1 (press release and detailed presentation). Q4 2025 GAAP Net Income Attributable to Blackstone Inc. was $1.02 billion ($1.30 per share), versus $704 million ($0.92) a year earlier. Full-year GAAP net income attributable to Blackstone was $3.02 billion ($3.87 per share), up from $2.78 billion ($3.62). Total revenues rose to $4.36 billion in Q4 and $14.45 billion for the year, though full-year 'Other' revenue turned negative, and Performance Allocations jumped sharply in Q4. The segment metrics focus on recurring earnings. Fee Related Earnings (FRE) was $1.54 billion in Q4 ($1.25/share), down 16% year over year, mainly because Fee Related Performance Revenues fell 57% after a large BIP crystallization in the prior-year quarter. For the full year, FRE rose 9% to $5.74 billion ($4.67/share). Distributable Earnings (DE) reached $2.24 billion ($1.75/share) in Q4, up 3%, and $7.11 billion ($5.57/share) for the year, up 19%. Net Accrued Performance Revenues climbed to $6.74 billion ($5.49/share), supported by strong appreciation in Infrastructure (23.5% for the year) and Corporate Private Equity (13.8%). Capital formation was robust. AUM reached $1.27 trillion (up 13%), with Q4 inflows of $71.5 billion, the highest in over three years, and full-year inflows of $239.4 billion. Perpetual Capital AUM grew 18% to $523.6 billion, and dry powder stood at $198.3 billion. The board declared a $1.49 quarterly dividend, payable February 17, 2026, and dividends for 2025 totaled $4.74 per share. Investors should note that results are preliminary and unaudited, and that the 8-K states the press release is furnished rather than filed.

Jan 29, 2026 8-K

Blackstone Inc. 8-K Report, Material Agreement (Nov 3, 2025)

Blackstone Inc. (NYSE: BX) completed a $1.2 billion senior notes offering on November 3, 2025, issued by its indirect subsidiary Blackstone Reg Finance Co. L.L.C. The offering consists of two tranches of $600 million each: 4.300% senior notes due November 3, 2030, and 4.950% senior notes due February 15, 2036. The notes are fully and unconditionally guaranteed, jointly and severally, by Blackstone Inc. and five of its indirect holding subsidiaries (Blackstone Holdings I, AI, II, III and IV L.P.). Proceeds are earmarked for general corporate purposes, which typically means working capital, investments, and debt refinancing, though the filing does not specify allocations. From an investor standpoint, this is a routine but meaningful capital-markets transaction. It adds $1.2 billion of unsecured, unsubordinated debt to Blackstone's capital structure, extending the firm's maturity profile into the 2030s at fixed coupons. The notes were sold under an automatically effective shelf registration (Form S-3ASR) filed December 2024, and the underwriting agreement was dated October 28, 2025, with BofA Securities, Citigroup, Deutsche Bank, Morgan Stanley and RBC Capital Markets as representatives. The indenture contains customary protections for bondholders, including limits on secured debt tied to voting stock or profit-participating equity interests of subsidiaries, restrictions on mergers and asset sales, and a 101% change-of-control repurchase right. Make-whole redemption applies before October 3, 2030 for the 2030 notes and before November 15, 2035 for the 2036 notes, with par redemption thereafter. Investors should note that the filing contains no earnings data or financial results; its significance lies in the financing terms and the company's continued access to investment-grade-style debt markets.

Nov 3, 2025 8-K

Blackstone Inc. 8-K Report, Corporate Update (Oct 28, 2025)

Blackstone Inc. (BX) announced on October 28, 2025, that its indirect subsidiary, Blackstone Reg Finance Co. L.L.C., has successfully priced a public offering of senior notes. This offering consists of $600 million in aggregate principal amount of 4.300% Senior Notes due 2030 and $600 million in aggregate principal amount of 4.950% Senior Notes due 2036. The issuance of these notes is fully and unconditionally guaranteed by Blackstone and several of its key holding entities, underscoring the company's commitment to the debt. This strategic move is intended to bolster Blackstone's liquidity for general corporate purposes. Investors should note that the offering was made under a shelf registration statement previously filed with the SEC, indicating a pre-established framework for such capital-raising activities. The details of this note pricing and offering are further elaborated in an attached press release, which is incorporated by reference into this filing. This financing event does not appear to signal any immediate changes in operational strategy but rather a proactive approach to managing corporate finances and maintaining a robust capital structure.

Oct 28, 2025 8-K

Blackstone Inc. 8-K Report, Corporate Update (Oct 28, 2025)

Blackstone Inc. (BX) has announced its indirect subsidiary, Blackstone Reg Finance Co. L.L.C., intends to offer senior notes guaranteed by Blackstone and several of its key holding entities. This offering will be conducted through an underwritten public offering, leveraging a previously filed shelf registration statement. The announcement, made via a press release on October 28, 2025, signifies a capital markets activity aimed at raising funds for the company. Investors should note that this is an intention to offer, and the terms and finalization of the offering are subject to market conditions and further regulatory filings.

Oct 28, 2025 8-K

Blackstone Inc. 8-K Report, Financial Results (Oct 23, 2025)

Blackstone (BX) reported third-quarter 2025 results on October 23, 2025, with strong top-line momentum led by fee-related and realized performance earnings. GAAP Net Income Attributable to Blackstone Inc. was $625 million for the quarter, down from $781 million a year earlier, mainly because performance allocations fell sharply to $781 million from $1.57 billion. Non-GAAP measures tell a stronger story: Fee Related Earnings (FRE) rose 26% year-over-year to $1.48 billion ($1.20/share), and Distributable Earnings (DE) rose 48% to $1.89 billion ($1.52/share). Realized performance revenues more than doubled to $745 million, and total segment DE climbed 42% to $1.99 billion. Assets under management reached a record $1.24 trillion, up 12% year-over-year, while fee-earning AUM grew 10% to $906 billion. Inflows totaled $54.2 billion in the quarter and $225.4 billion over the last twelve months, and realizations of $30.6 billion in the quarter supported the realized-earnings growth. Perpetual capital AUM rose 15% to $500.6 billion, a key driver of more durable fee income. Dry powder stood at $188.1 billion. The main watch items are the decline in net accrued performance revenues to $6.5 billion (down about 7% year-over-year), weaker opportunistic real estate performance (down 5.2% over the LTM), and a pickup in interest expense. The board declared a $1.29 per share dividend payable November 10, 2025, to holders of record on November 3, and Blackstone returned $1.6 billion to shareholders in respect of the quarter. Note that this 8-K furnishes the press release under Item 2.02 and that the figures are preliminary and unaudited.

Oct 23, 2025 8-K/A

Material AgreementsFinancial EventsExhibits & Filings

Blackstone Inc. 8-K/A Report, Financial Results (Oct 23, 2025)

Blackstone (BX) reported third quarter 2025 results on October 23, 2025, describing a strong quarter led by fundraising and earnings growth. Inflows were $54.2 billion in the quarter and $225.4 billion over the last twelve months, while Total AUM rose 12% year-over-year to $1,241.7 billion and Fee-Earning AUM rose 10% to $906.2 billion. Fee Related Earnings (FRE) grew 26% year-over-year to $1.48 billion ($1.20/share), and Distributable Earnings (DE) rose 48% to $1.89 billion ($1.52/share). Total Segment Distributable Earnings reached $1.99 billion, up 42%, led by Private Equity net realizations of $380.1 million. GAAP results were more mixed. GAAP Net Income Attributable to Blackstone Inc. was $625 million, down from $781 million a year earlier, and basic and diluted EPS fell to $0.80 from $1.02, as performance allocations dropped to $781 million from $1.57 billion. Net Accrued Performance Revenues declined quarter-over-quarter to $6.5 billion ($5.30/share) as realizations outpaced new accruals. The company declared a quarterly dividend of $1.29 per share, payable November 10, 2025 to holders of record on November 3, 2025, bringing LTM dividends to $4.69 per share. This filing is Amendment No. 1 to the original 8-K. It corrects a typesetting error in the EDGAR copy of the earnings presentation: Private Equity net realizations for 3Q'25 are $380.1 million, not the $280.1 million shown in the original EDGAR exhibit. No other changes were made, and the corrected figure matches the figure posted on Blackstone's website on the earnings date.

Oct 23, 2025 8-K

Blackstone Inc. 8-K Report, Material Agreement (Oct 17, 2025)

Blackstone Inc. (BX) has filed an 8-K report detailing the amendment and restatement of its revolving credit facility. The key change is the extension of the facility's maturity date from December 15, 2028, to October 16, 2030, providing the company with enhanced financial flexibility and a longer runway for its operations. This amendment also increases the minimum required amount of fee-generating assets under management from $294.0 billion to $355.0 billion, reflecting the company's growth and confidence in its asset management capabilities. The credit facility, totaling $4.325 billion, remains unsecured and has terms largely consistent with the previous agreement, including customary representations, covenants, and events of default. Financial covenants focus on a maximum net leverage ratio and a minimum level of fee-generating assets under management, tested quarterly. This strategic extension and adjustment of the credit facility underscore Blackstone's commitment to maintaining a strong liquidity position and supporting its ongoing business activities.

Oct 17, 2025 8-K

Blackstone Inc. 8-K Report, Regulation FD Disclosure (Sep 24, 2025)

On September 24, 2025, Blackstone (BX) furnished an 8-K under Regulation FD (Item 7.01) with a Press Release (Exhibit 99.1) providing an intra-quarter update on realization activity. For the period July 1, 2025 through September 24, 2025, Blackstone preliminarily expects to record total Realized Performance Revenues and total Realized Principal Investment Income in excess of $525 million, with over 90% of that amount coming from Realized Performance Revenues. The estimate includes revenue from investment realizations closed to date in the third quarter, plus certain non-fee related incentive fees and other investment income expected to be realized at quarter end. Investors should read this estimate narrowly. The company explicitly states it is not a prediction of full-quarter Realized Performance Revenues, Realized Principal Investment Income, or Segment Revenues for Q3 2025 ending September 30, 2025, and that final results may differ materially. The figure excludes any realizations after September 24, fee income, expenses, and any further gains or losses for the remainder of the quarter. It is also not indicative of results for the full year 2025. The disclosure is best viewed as a voluntary, mid-quarter signal on the monetization environment, specifically realization activity from private equity, real estate, and other investments. Because performance revenues are lumpy and depend on the timing of exits, the figure offers a partial read on realization momentum rather than a complete earnings preview. Investors should await the full Q3 2025 earnings release and related filings for comprehensive financial results. The filing also notes that the forward-looking statements are subject to risks described in Blackstone's 2024 Form 10-K.

Sep 24, 2025 8-K

Blackstone Inc. 8-K Report, Financial Results (Jul 24, 2025)

Blackstone (BX) reported second quarter 2025 results on July 24, 2025, showing strong growth in earnings and scale. GAAP net income attributable to Blackstone Inc. was $764 million for the quarter (vs. $444 million in 2Q'24), or $0.98 per share diluted, and $1.4 billion year-to-date. Total revenues rose to $3.7 billion from $2.8 billion, driven largely by a sharp increase in performance allocations ($1.14 billion vs. $654 million) and principal investment income. The key non-GAAP measures also grew substantially. Fee Related Earnings (FRE) reached $1.5 billion ($1.19 per share), up 31% year-over-year, and Distributable Earnings (DE) were $1.6 billion ($1.21 per share), up 25%. Total assets under management reached a record $1.21 trillion, up 13% year-over-year, with $52.1 billion of inflows in the quarter and $211.8 billion over the last twelve months. Net Accrued Performance Revenues rose to $6.6 billion ($5.37 per share), supported by broad-based appreciation across most strategies, notably Corporate Private Equity (+5.1% in the quarter, +17.2% LTM). Real Estate remained weaker, with Opportunistic funds essentially flat in the quarter and down 3.6% over the LTM. For shareholders, the company declared a quarterly dividend of $1.03 per share, payable August 11, 2025 to holders of record on August 4, 2025, and reported $1.4 billion to be returned in the quarter. Balance sheet liquidity remained solid at $10.6 billion of total cash and corporate treasury investments, with a $4.3 billion revolver and A+/A+ ratings. Because the press release is furnished under Item 2.02 rather than filed, the figures are presented on an unaudited basis, and investors should note that performance-related revenues remain sensitive to market conditions.

Jul 24, 2025 8-K

Blackstone Inc. 8-K Report, Regulation FD Disclosure (Jun 24, 2025)

Blackstone (BX) filed an 8-K on June 24, 2025 under Item 7.01 (Regulation FD) to furnish a preliminary, intra-quarter update on realization activity for the period April 1, 2025 through June 24, 2025. The company said it expects to record total Realized Performance Revenues and total Realized Principal Investment Income of more than $425 million for that period, with the estimate almost entirely composed of Realized Performance Revenues. The figure reflects investment realizations closed so far in the second quarter, certain non-fee-related incentive fees included in Realized Performance Revenues, and other investment income expected to be realized at quarter end. Investors should read the disclosure narrowly. Blackstone explicitly states the estimate is not a prediction of full-quarter Q2 2025 Realized Performance Revenues, Realized Principal Investment Income, or Segment Revenues, and that full-quarter results may differ materially. The estimate excludes fee income and expenses, and further gains or losses may still occur before June 30. It also should not be taken as indicative of any other period, including fiscal year 2025. The filing is largely a voluntary, forward-looking business update that gives the market an early read on monetization activity, a closely watched driver of alternative asset manager earnings. Because it is a partial-period figure with explicit caveats and the 8-K itself is not a formal financial statement, it should be weighed as one data point alongside the company's eventual quarterly results and its Form 10-K and 10-Q disclosures.

Jun 24, 2025 8-K

Blackstone Inc. 8-K Report, Financial Results (Apr 17, 2025)

Blackstone (BX) reported first quarter 2025 results on April 17, 2025, with GAAP Net Income of $1.2 billion ($615 million attributable to Blackstone Inc.) and Distributable Earnings (DE) of $1.4 billion ($1.09 per share). Fee-Related Earnings (FRE) reached $1.3 billion ($1.03 per share), up 9% year-over-year, while GAAP total revenues declined to $3.29 billion from $3.69 billion, largely because realized and unrealized performance allocations fell. The company highlighted $62 billion of quarterly inflows, the highest in nearly three years, and $177 billion of total dry powder, and it reported a $1.16 billion-equivalent quarterly distribution profile through a $0.93 per share dividend payable May 5, 2025. The quarter's strength was driven by investment appreciation. Net Accrued Performance Revenues rose 2% sequentially to $6.4 billion ($5.24 per share), supported by gains in Infrastructure (7.5%), Tactical Opportunities (2.9%), and Private Credit (2.7% gross). Real Estate remained the weak spot, with Opportunistic funds up only 0.2% in the quarter and down 3.7% over the LTM. Segment Distributable Earnings grew 11% to $1.6 billion, and LTM DE reached $6.1 billion ($4.75 per share), up 20%. Investors should weigh the strong fee-based growth and capital-raising momentum against the lower GAAP top line and the uneven real estate performance. Total AUM reached $1.17 trillion (up 10%), and Perpetual Capital AUM of $464 billion (up 14%) supports the durability of fee-related earnings. Note that all figures are preliminary and unaudited, and that the results are presented on both GAAP and non-GAAP segment bases.

Apr 17, 2025 8-K

Blackstone Inc. 8-K Report, Regulation FD Disclosure (Mar 25, 2025)

On March 25, 2025, Blackstone (BX) furnished an 8-K under Regulation FD (Item 7.01) with Exhibit 99.1, an intra-quarter update on realization activity. Blackstone preliminarily expects to record total Realized Performance Revenues and total Realized Principal Investment Income of more than $385 million for January 1 through March 25, 2025, almost entirely Realized Performance Revenues. The figure includes investment realizations closed to date in the first quarter, certain non-fee-related incentive fees, and other investment income expected to be realized at quarter end. It excludes pending realizations expected to close before quarter end, most notably the previously announced sale of Bistro. The company is explicit that this is not a forecast for first-quarter results. Full-quarter Realized Performance Revenues, Realized Principal Investment Income, and Segment Revenues may differ materially. The estimate also excludes fee income and expenses, and further gains or losses may be realized before quarter end. It is not indicative of results for 2025 as a whole. For investors, the key takeaway is that realization activity has been strong early in the quarter, but the number should be read as a partial, backward-looking data point rather than a guide to full-year or even full-quarter earnings. The filing is largely informational, with no change to guidance, no financial statements, and no material corporate event beyond the update itself. Its forward-looking statements point to risk factors in the 2024 Form 10-K and warn of significant market developments after March 25, 2025. Blackstone also disclaims any obligation to update the estimate.

Mar 25, 2025 8-K

Blackstone Inc. 8-K Report, Financial Results (Jan 30, 2025)

Blackstone (BX) reported fourth quarter and full year 2024 results on January 30, 2025, with management describing 4Q24 as one of the best quarters in the firm's history. GAAP net income attributable to Blackstone Inc. was $704 million for the quarter ($0.92 per share) and $2.8 billion for the full year ($3.62 per share), up from $1.39 billion in FY23. The headline driver was performance revenue: GAAP performance allocations were $3.8 billion for FY24 versus $532 million in FY23, reflecting strong realizations and a large fourth-quarter fee-related performance revenue event of $1.4 billion in Total Segments, most notably in Private Equity ($1.2 billion, driven by the Infrastructure three-year crystallization and the first significant BXPE crystallization). The more recurring earnings picture also improved. Fee Related Earnings (FRE) was $1.8 billion ($1.50 per share) in 4Q24 and $5.3 billion ($4.32 per share) for the year, up 21%. Distributable Earnings (DE) rose to $2.2 billion ($1.69 per share) in the quarter and $6.0 billion ($4.64 per share) for FY24, up 18%. Capital activity also accelerated: inflows of $57.5 billion in the quarter and $171.5 billion for the year, deployment of $133.9 billion for the year, and realizations of $87.1 billion. Total AUM reached $1.127 trillion, up 8%, and fee-earning AUM reached $830.7 billion, up 9%. Investors should weigh the offsetting signals. Net accrued performance revenues declined 10% quarter-over-quarter to $6.3 billion ($5.14 per share) as realized distributions ($1.4 billion in the quarter) outpaced new accruals, and real estate returns were weak, with Opportunistic funds down 3.7% and Core+ up only 0.1% for the year. The board declared a $1.44 per share dividend payable February 18, 2025, and total capital returned to shareholders for FY24 was $5.6 billion, including $3.95 in dividends per share. The results are preliminary and unaudited, and the company's balance sheet remains strong, with A+/A+ ratings and $9.7 billion in total cash and corporate treasury investments.

Jan 30, 2025 8-K

Blackstone Inc. 8-K Report, Regulation FD Disclosure (Dec 23, 2024)

On December 23, 2024, Blackstone Inc. (BX) filed an 8-K under Item 7.01 (Regulation FD Disclosure) to furnish a press release providing a preliminary, intra-quarter estimate of revenue tied to realization activity for the period October 1, 2024 through December 23, 2024. Blackstone expects total Realized Performance Revenues and total Realized Principal Investment Income for this period to exceed $775 million, with roughly 95% coming from Realized Performance Revenues and roughly 5% from Realized Principal Investment Income. The estimate includes closed fourth-quarter realizations to date, certain non-fee-related incentive fees, and other investment income expected to be realized at quarter end. The disclosure is explicitly limited in scope. It is not a forecast for total fourth-quarter 2024 Realized Performance Revenues, Realized Principal Investment Income, or Segment Revenues, and final quarterly results may differ materially. The estimate excludes fee income and expenses, and further gains or losses may still be realized before quarter-end. Management also states that the figure is not indicative of results for full-year 2024. Investors should therefore treat the $775 million figure as a partial, point-in-time indicator of realization momentum rather than a complete earnings preview. The announcement is a voluntary, mid-quarter update rather than a required reporting event. Because realization activity drives the lumpy, carried-interest-heavy portion of alternative asset manager earnings, the figure gives the market an early read on the strength of exits in the fourth quarter of 2024. The filing is furnished rather than filed, so it is not subject to Section 18 liability, and it carries standard forward-looking statement cautions referencing risk factors in the 2023 Form 10-K.

Dec 23, 2024 8-K

Blackstone Inc. 8-K Report, Material Agreement (Dec 6, 2024)

Blackstone Inc. (BX) filed an 8-K on December 6, 2024, to announce the successful completion of a $750 million offering of 5.000% Senior Notes due 2034. The offering was made by its indirect subsidiary, Blackstone Reg Finance Co. L.L.C., with full and unconditional guarantees from Blackstone Inc. and several of its indirect subsidiaries. This issuance allows Blackstone to further diversify its funding sources and extend its debt maturity profile. The new notes mature in 2034 and carry a fixed coupon of 5.000%, payable semi-annually. The indenture includes standard covenants restricting the incurrence of secured debt and limitations on mergers and asset sales, along with provisions for default and repurchase upon a change of control. The company has also filed legal opinions and an underwriting agreement related to this transaction.

Dec 6, 2024 8-K

Blackstone Inc. 8-K Report, Corporate Update (Dec 3, 2024)

Blackstone Inc. (BX) announced on December 2, 2024, the pricing of a $750 million public offering of 5.000% Senior Notes due 2034. These notes are guaranteed by several Blackstone entities, providing a layer of assurance to investors. The company intends to utilize the net proceeds from this offering for general corporate purposes. This debt issuance indicates Blackstone's ongoing capital management strategy and its access to public debt markets. Investors should note that the funds raised are for general corporate purposes, which could include various strategic initiatives, operational expenses, or future investments. The specific allocation of these proceeds will be a key area to monitor in future filings and communications from the company.

Dec 3, 2024 8-K

Blackstone Inc. 8-K Report, Corporate Update (Dec 2, 2024)

Blackstone Inc. (BX) has filed an 8-K report on December 2, 2024, to announce a material event related to its debt financing activities. Specifically, an indirect subsidiary, Blackstone Reg Finance Co. L.L.C., intends to offer senior notes. These notes will be guaranteed by Blackstone Inc. and several of its key holding entities, indicating a significant debt issuance planned by the alternative asset manager. This offering is being conducted under an automatically effective shelf registration statement, suggesting that the groundwork for such financing has been previously laid and deemed sufficient by the SEC. The announcement was made via a press release filed as an exhibit to this report.

Dec 2, 2024 8-K

Blackstone Inc. 8-K Report, Corporate Update (Nov 25, 2024)

Blackstone's November 25, 2024 Form 8-K is a housekeeping filing rather than a financial-results release. It recasts segment reporting for the 2023 Form 10-K and the Q1 2024 Form 10-Q to reflect two organizational changes effective the quarter ended June 30, 2024: the GP Stakes business moved from Multi-Asset Investing into Private Equity, and the Harvest Fund Advisors platform moved from Credit & Insurance into Multi-Asset Investing (formerly Hedge Fund Solutions). The filing states it does not otherwise reclassify or restate previously reported consolidated financial statements, and it does not reflect events after the original 10-K and 10-Q filing dates. For investors, the practical impact is on segment-level comparability rather than on the firm's consolidated results. Segment figures such as Private Equity and Multi-Asset Investing revenues, Fee-Earning AUM, Fee Related Earnings and Segment Distributable Earnings now reflect the new composition for all periods presented, so analysts modeling segment trends should use the recast figures rather than prior-published numbers. Consolidated revenues, net income and Distributable Earnings are unchanged by the recast. The filing consists of Deloitte's consent (Exhibit 23.1), recast Item 1, Item 7 and Item 8 from the 2023 10-K (Exhibit 99.1), and recast Part I financial statements and MD&A from the Q1 2024 10-Q (Exhibit 99.2). Its forward-looking statements caution readers to consult the risk factors in the 10-K. Investors should read the exhibits alongside the original filings.

Nov 25, 2024 8-K

Leadership Changes

Blackstone Inc. 8-K Report, Executive Changes (Nov 13, 2024)

Blackstone Inc. (BX) has filed an 8-K report to announce the upcoming resignation of a director, Kelly A. Ayotte, effective November 14, 2024. Ms. Ayotte is stepping down from the Board of Directors due to her recent election as governor of New Hampshire. This departure will result in a reduction of the Board's size from nine to eight members. The company expressed gratitude for Ms. Ayotte's contributions during her tenure.

Nov 13, 2024 8-K

Blackstone Inc. 8-K Report, Financial Results (Oct 17, 2024)

Blackstone (BX) reported third-quarter 2024 results on October 17, 2024, with broad-based acceleration across the business. GAAP Net Income was $1.6 billion for the quarter ($781 million attributable to Blackstone Inc.) versus $920.7 million ($552 million attributable) a year earlier, and GAAP diluted EPS rose to $1.02 from $0.73. Total revenues increased to $3.66 billion from $2.54 billion, driven largely by Performance Allocations of $1.57 billion, up from $390 million, reflecting strong fund appreciation. Management cited $54 billion invested or committed in the quarter, the highest in over two years, and $40.5 billion of inflows. On the non-GAAP measures that management emphasizes, Fee Related Earnings rose 5% to $1.18 billion ($0.96 per share), and Distributable Earnings grew 6% to $1.28 billion ($1.01 per share). Total Segment Distributable Earnings were $1.40 billion, up 1%. Net Accrued Performance Revenues climbed 13% quarter-over-quarter to $7.0 billion ($5.72 per share), a key driver of future earnings. Total AUM reached $1.108 trillion, up 10% year-over-year, and Fee-Earning AUM reached $820.5 billion, up 12%. Perpetual Capital AUM was $434.7 billion. Dry powder stood at $171.6 billion. Capital return remains a focus. The board declared a quarterly dividend of $0.86 per share, payable November 4, 2024 to holders of record on October 28, 2024, up from $0.80 a year earlier. Blackstone repurchased 1.0 million shares in the quarter, and management expects about $1.2 billion to be returned to shareholders for the quarter. Investors should note that certain segment comparisons were pressured by higher Performance Compensation and Other Operating Expenses, and that Real Estate Fee Related Earnings declined, partly reflecting weaker Core+ and Opportunistic returns over the trailing twelve months. All figures are preliminary and unaudited.

Oct 17, 2024 8-K

Blackstone Inc. 8-K Report, Regulation FD Disclosure (Sep 24, 2024)

On September 24, 2024, Blackstone Inc. (BX) furnished an 8-K under Item 7.01 (Regulation FD) attaching a press release that provides a preliminary, intra-quarter estimate of realization-related revenue. Blackstone expects to record total Realized Performance Revenues and total Realized Principal Investment Income in excess of $300 million for the period July 1, 2024 through September 24, 2024. Per the release, roughly 85% of that amount is Realized Performance Revenues and roughly 15% is Realized Principal Investment Income. The estimate reflects investment realizations closed to date in the third quarter, certain non-fee-related incentive fees, and other investment income expected to be realized at quarter end. For investors, the key takeaway is that the disclosure is a partial, backward-looking snapshot rather than a forecast. Blackstone explicitly states the figure does not predict total Realized Performance Revenues, total Realized Principal Investment Income, or total Segment Revenues for the quarter ending September 30, 2024, and that full-quarter results may differ materially. It also excludes fee income and expenses, and it is not indicative of results for the year ending December 31, 2024. Investors should therefore read the $300 million figure as a signal of realization momentum in the third quarter, not as a complete measure of quarterly earnings. The filing is largely a pre-announcement of realization activity that Blackstone chose to disclose ahead of its scheduled earnings release, which is consistent with its practice of providing intra-quarter updates on performance-related revenue. The 8-K itself notes the information is furnished rather than filed for purposes of Section 18 of the Exchange Act, and the forward-looking statements caveat points investors to the risk factors in Blackstone's 2023 Form 10-K and to significant market developments occurring after September 24, 2024.

Sep 24, 2024 8-K

Blackstone Inc. 8-K Report, Financial Results (Jul 18, 2024)

Blackstone (BX) reported second quarter 2024 results on July 18, 2024, with GAAP net income of $948 million for the quarter ($444 million attributable to Blackstone Inc.) and $2.5 billion year-to-date. The headline operating story was strong capital activity: $39.4 billion of inflows in the quarter (about $151.5 billion over the LTM), $33.7 billion deployed (the highest investment activity in two years, per management), and total AUM of $1,076.4 billion, up 7% year-over-year. Fee-Earning AUM rose 11% to $808.7 billion, and Perpetual Capital AUM reached $418.6 billion, up 9%. Management's fee-related economics were softer, however: Fee Related Earnings were $1.1 billion ($0.91/share), down 3% year-over-year, while Distributable Earnings rose 3% to $1.3 billion ($0.96/share), supported by higher realized performance revenues. The balance sheet and shareholder return picture is solid. Net Accrued Performance Revenues climbed to $6.2 billion ($5.08/share), driven by appreciation across strategies, with the Infrastructure, Private Credit, and Corporate Private Equity funds posting the strongest returns. Blackstone ended the quarter with $8.7 billion in cash and corporate treasury investments and $17.7 billion of cash and net investments ($14.44/share), against $10.7 billion of debt at par. The board declared a $0.82 quarterly dividend (payable August 5, 2024, record date July 29), up from $0.79 a year earlier, and raised the share repurchase authorization to $2.0 billion. Investors should note that GAAP net income attributable to Blackstone fell 27% year-over-year to $444 million, mainly because of lower principal investment gains and a shift in performance allocations. These figures are preliminary and unaudited. The 8-K furnishes the press release and investor presentation under Item 2.02 and does not represent a formal change in guidance or a material corporate event. Investors should weigh the strong fundraising and deployment momentum, and the growth in performance-driven earnings, against the modest decline in FRE and the volatility inherent in GAAP results tied to unrealized performance revenues.

Jul 18, 2024 8-K

Regulation FD

Blackstone Inc. 8-K Report, Regulation FD Disclosure (Jul 3, 2024)

Blackstone Inc. (BX) has filed an 8-K disclosing segment organizational updates that became effective for the quarter ending June 30, 2024. These changes aim to provide investors with more comparable historical financial data under the revised segment structure. The primary changes involve reclassifying the GP Stakes business into the Private Equity segment and integrating the Harvest platform into the Multi-Asset Investing segment, which was previously known as Hedge Fund Solutions.

Jul 3, 2024 8-K

Blackstone Inc. 8-K Report, Financial Results (Apr 18, 2024)

Blackstone (BX) reported first-quarter 2024 results that were strong on a GAAP basis but more mixed on a recurring-earnings basis. GAAP Net Income was $1.6 billion for the quarter (vs. $211 million in 1Q'23), and GAAP Net Income Attributable to Blackstone Inc. was $847 million, or $1.11 diluted EPS. The swing was driven by Performance Allocations of $1.1 billion and Principal Investments of $540 million, both reflecting strong fund appreciation rather than cash realizations. Management highlighted accelerating momentum in private credit and private wealth, along with a strengthening transaction environment. The underlying cash-earnings metrics were steadier. Fee Related Earnings rose 12% year-over-year to $1.2 billion ($0.95/share), and Distributable Earnings were $1.3 billion ($0.98/share), up 1% from 1Q'23. Realizations fell sharply, to $15.0 billion in the quarter from a much larger LTM base, and Net Realized Performance Revenues dropped 25% year-over-year at the Total Segment level. Over the last twelve months, DE declined 15% to $5.1 billion ($3.96/share), which reflects the lower realized performance revenues of the prior year's exits. Assets under management reached a record $1,061.3 billion, up 7% year-over-year, with $34.0 billion of inflows in the quarter and $142.2 billion over the LTM. Net Accrued Performance Revenues rose to $6.1 billion ($5.00/share), up about 4% from the prior quarter, and the company retains roughly $191 billion of dry powder. The board declared a quarterly dividend of $0.83 per share, payable May 6, 2024, to holders of record on April 29, 2024. That is about 84% of 1Q DE per share, consistent with the company's roughly 85% payout policy. This filing is an Item 2.02 disclosure, and the press release is furnished rather than filed.

Apr 18, 2024 8-K

Material AgreementsFinancial EventsExhibits & Filings

Blackstone Inc. 8-K Report, Financial Results (Jan 25, 2024)

Blackstone (BX) reported fourth quarter and full year 2023 results on January 25, 2024, with a mixed picture: a sharp drop in GAAP and distributable earnings for the full year, offset by a strong quarter-over-quarter rebound in fundraising and deployment. GAAP Net Income was $2.4 billion for FY'23 (versus $3.0 billion in FY'22), and Net Income Attributable to Blackstone Inc. fell to $1.4 billion from $1.7 billion. Fee-related earnings were resilient at $4.3 billion ($3.58/share), down only 1% year-over-year, supported by a 6% increase in management and advisory fees. Distributable Earnings fell 24% to $5.1 billion ($3.95/share) for the year, driven primarily by lower realized performance revenues, which dropped 54% to $2.1 billion from $4.5 billion in FY'22. The quarter itself showed clear momentum. Inflows were $52.7 billion in 4Q'23 and $148.5 billion for the full year, total AUM rose 7% to $1.04 trillion, and fee-earning AUM grew 6% to $762.6 billion. Capital deployment reached $31.1 billion in the quarter and $73.8 billion for the year. Investment performance was mixed: Corporate Private Equity returned 12.1% for the year, Private Credit 16.4% gross, and Infrastructure 12.1%, while Opportunistic Real Estate declined 6.3% and Core+ declined 4.3% for the year. Net Accrued Performance Revenues declined 15% year-over-year to $5.8 billion ($4.80/share), reflecting realized distributions that outpaced new performance revenue. For shareholders, the declared quarterly dividend is $0.94 per share, payable February 12, 2024 to holders of record on February 5, 2024. Full-year dividends totaled $3.35 per share, down from $4.40 in 2022, as the dividend tracks DE. Blackstone ended the year with $8.4 billion in total cash and investments, $16.9 billion in cash and net investments ($13.93 per share), a $4.3 billion undrawn revolver, and A+/A+ ratings. Total dry powder was $197.3 billion. All figures are preliminary and unaudited, and the presentation is furnished rather than filed under Item 2.02.

Jan 25, 2024 8-K

Blackstone Inc. 8-K Report, Material Agreement (Dec 20, 2023)

Blackstone Inc. (BX) has filed an 8-K report detailing an amendment and restatement of its revolving credit facility. This action, effective December 15, 2023, involves a significant increase in the facility's size to $4.325 billion and extends the maturity date to December 15, 2028. The amendment also adjusts the minimum required fee-generating assets under management to $294.0 billion and updates the reference rate for Canadian Dollar denominated loans to CORRA. From an investor's perspective, this amendment signifies Blackstone's proactive management of its financial resources and its continued access to substantial liquidity. The extended maturity provides greater financial flexibility and stability, particularly in the current economic climate. The increased requirement for fee-generating assets under management suggests a confidence in the company's ability to grow its business and generate fees, a key driver of its profitability.

Dec 20, 2023 8-K

Blackstone Inc. 8-K Report, Financial Results (Oct 19, 2023)

Blackstone (BX) reported third-quarter 2023 results on October 19, 2023, showing a mixed picture: GAAP net income attributable to Blackstone Inc. was $552 million for the quarter ($0.73 per share) versus $2.3 million a year earlier, but this was driven largely by swings in unrealized performance allocations rather than core earnings. The company's core profitability measures declined year over year. Fee Related Earnings (FRE) was $1.12 billion ($0.92/share), down 5% from 3Q'22, and Distributable Earnings (DE) was $1.21 billion ($0.94/share), down 12%. Total Segment DE fell 13% to $1.38 billion, mainly because realized performance revenues dropped 28% to $338 million. Assets under management grew to a record $1,007.4 billion, up 6% year over year, with $25.3 billion of quarterly inflows and $138.9 billion over the last twelve months. Perpetual Capital AUM rose 8% to $388.3 billion, and Fee-Earning AUM rose 4% to $734.5 billion, supporting the recurring fee base. Management highlighted $200.6 billion of total dry powder and said nearly all flagship strategies outperformed public benchmarks, though real estate opportunistic funds declined 2.0% in the quarter and 4.5% over the LTM. Net accrued performance revenues fell to $6.4 billion ($5.29/share), largely due to realizations. Capital return remains a central part of the story. The board declared a quarterly dividend of $0.80 per share, payable November 6, 2023 to holders of record on October 30, 2023, which is about 85% of the company's DE payout policy. Blackstone also repurchased 1.3 million shares in the quarter and noted it joined the S&P 500 effective September 18, 2023. Note that all current-period figures are preliminary and unaudited, and the presentation is furnished rather than filed under the 8-K.

Oct 19, 2023 8-K

Leadership Changes

Blackstone Inc. 8-K Report, Executive Changes (Aug 25, 2023)

Blackstone Inc. (BX) filed an 8-K on August 24, 2023, to report the departure of a director from its Board. Sir John Antony Hood has resigned from the Board, effective August 25, 2023, citing personal health reasons. His departure reduces the size of the Board from eleven to ten members. While this filing addresses a change in board composition, it does not include any financial performance updates, strategic shifts, or other material events that would directly impact the company's operational or financial standing at this time. Investors should note this board change as part of ongoing corporate governance, but it is not indicative of any immediate business or financial developments requiring significant investor attention beyond standard oversight.

Aug 25, 2023 8-K

Blackstone Inc. 8-K Report, Financial Results (Jul 20, 2023)

Blackstone reported second quarter 2023 results on July 20, 2023, highlighted by the firm surpassing $1 trillion in total assets under management (AUM), which management described as a first among alternative managers. Total AUM rose 6% year-over-year to $1.0 trillion, Fee-Earning AUM grew 7% to $731.1 billion, and Perpetual Capital AUM increased 8% to $384.3 billion. Quarterly inflows were $30.1 billion and LTM inflows were $158.4 billion, supporting fee-earning growth even as monetization weakened. Earnings were mixed. GAAP net income attributable to Blackstone was $601 million for the quarter, or $0.79 per share, versus a loss of $29 million a year earlier, largely reflecting a swing in performance allocations to $616 million from negative $1.0 billion. Fee Related Earnings (FRE), the more recurring measure, rose 12% to $1.1 billion ($0.94/share), while Distributable Earnings (DE) fell 39% to $1.2 billion ($0.93/share) as realized performance revenues dropped sharply to $388 million from $2.2 billion a year earlier. Net Accrued Performance Revenues (unrealized carried value) rose to $6.5 billion ($5.31/share), supported by appreciation across strategies. The quarterly dividend was declared at $0.79 per share, payable August 7, 2023 to holders of record on July 31, 2023, down from $1.27 a year earlier. Management noted that the dividend policy targets roughly 85% of Blackstone Inc.'s share of DE, so the lower DE translated directly into a lower payout. Balance sheet metrics show $17.1 billion of cash and net investments and an undrawn $4.1 billion revolver with A+/A+ ratings. Investors should weigh the strong asset-gathering and FRE trajectory against the volatility of realized performance revenues and the lower distribution.

Jul 20, 2023 8-K

Blackstone Inc. 8-K Report, Financial Results (Apr 20, 2023)

Blackstone (BX) reported first-quarter 2023 results on April 20, 2023, with GAAP net income of $211 million for the quarter (only $86 million attributable to Blackstone Inc.) and $702 million over the last twelve months. The headline figures were weaker than the prior-year period: GAAP net income attributable to Blackstone Inc. fell from $1.22 billion to $86 million, and GAAP diluted EPS dropped from $1.66 to $0.11, driven mainly by lower realized performance revenues and unrealized markdowns in the fund portfolio. The comparison is further distorted by a large swing in unrealized performance allocations, which turned from a gain of $1.29 billion to a loss of $759 million, so GAAP figures should be read with that volatility in mind. On the non-GAAP segment measures that management emphasizes, the picture is more stable. Fee Related Earnings (FRE) were $1.04 billion ($0.86/share), down 9% year-over-year, while Distributable Earnings (DE) were $1.25 billion ($0.97/share), down 36%. Management fees grew 12% in the segment presentation, supported by total AUM rising 8% to $991.3 billion and inflows of $40.4 billion in the quarter. Net accrued performance revenues declined 7% sequentially to $6.4 billion ($5.27/share), reflecting realized distributions across strategies, and investment performance was mixed, with Private Credit (+3.4% gross) and Corporate Private Equity (+2.8%) offsetting declines in Opportunistic Real Estate (-0.4%) and Core+ Real Estate (-1.6%). For investors, the key takeaways are the quarter's strong fundraising momentum, a record $193.9 billion of dry powder, and a maintained quarterly dividend of $0.82 per share (about 85% of DE policy payout target), payable May 8, 2023. The dividend was reduced from $1.27 in 2Q'22 and $1.32 in 1Q'22, reflecting lower realizations, and management noted that the realization environment remains the main variable for future distributable earnings and dividends.

Apr 20, 2023 8-K

Blackstone Inc. 8-K Report, Financial Results (Jan 26, 2023)

Blackstone (BX) reported fourth quarter and full year 2022 results on January 26, 2023, in a press release furnished as Exhibit 99.1 under Item 2.02. The headline figures are record total AUM of $974.7 billion (up 11% year over year), record dry powder of $186.6 billion, and full-year inflows of $226.0 billion, including $43.1 billion in the fourth quarter. Management emphasized that the firm grew through a difficult market backdrop, with fee-earning AUM of $718.4 billion and perpetual capital AUM of $371.1 billion (up 18%). Earnings quality was mixed. Fee Related Earnings (FRE) rose 9% for the year to $4.4 billion ($3.65 per share), but fell 42% in the quarter to $1.1 billion ($0.88 per share), largely because BREIT's performance revenues moved to quarterly crystallization and because fourth-quarter fee-related performance revenues dropped sharply. Distributable Earnings (DE) were $6.6 billion for the year ($5.17 per share, up 8%) but only $1.3 billion ($1.07 per share) in the quarter, down 41%. GAAP net income attributable to Blackstone Inc. was $558 million for the quarter and $1.7 billion for the year, versus $5.9 billion in 2021, reflecting lower unrealized performance allocations. Net accrued performance revenues declined to $6.8 billion from $8.7 billion a year earlier. Capital return remained a priority. The board declared a quarterly dividend of $0.91 per share, payable February 13, 2023, to holders of record on February 6, 2023. Full-year dividends were $4.40 per share, and total dividends and share repurchases were $6.1 billion for the year. The company ended the year with $9.7 billion in total cash and investments, $18.8 billion in cash and net investments ($15.62 per share), and $11.0 billion of debt at par. Investors should note that the 4Q22 results include an out-of-period deferred tax benefit, which the company said was not material and did not affect FRE or DE.

Jan 26, 2023 8-K

Blackstone Inc. 8-K Report, Material Agreement (Nov 3, 2022)

Blackstone Inc. (BX) filed an 8-K report on November 3, 2022, detailing the issuance of $1.5 billion in senior notes. This offering comprises $600 million of 5.900% Senior Notes due 2027 and $900 million of 6.200% Senior Notes due 2033. These notes are unsecured and unsubordinated obligations of the Issuer, Blackstone Holdings Finance Co. L.L.C., and are fully and unconditionally guaranteed by several Blackstone Inc. subsidiaries. The company has entered into supplemental indentures to facilitate this debt issuance, which was completed on November 3, 2022. The issuance of these notes is a significant financing activity for Blackstone, providing capital and extending its debt maturity profile. Investors should note the interest rates, maturity dates, and the covenants associated with these new debt instruments. The report also indicates that these notes were offered pursuant to Rule 144A and Regulation S, meaning they were likely placed with institutional investors and are not registered under the Securities Act of 1933.

Nov 3, 2022 8-K

Blackstone Inc. 8-K Report, Corporate Update (Nov 1, 2022)

Blackstone Inc. announced on October 31, 2022, through an 8-K filing, that its indirect subsidiary, Blackstone Holdings Finance Co. L.L.C., has priced a significant debt offering. This offering includes $600 million in 5.900% Senior Notes due 2027 and $900 million in 6.200% Senior Notes due 2033. These new notes are guaranteed by Blackstone Inc. and several of its other subsidiaries, indicating a consolidated approach to its debt obligations. The aggregate principal amount of this offering is $1.5 billion. The proceeds from this debt issuance are intended for general corporate purposes, which typically include funding operations, potential acquisitions, or managing existing liabilities. This move signifies Blackstone's continued access to capital markets and its strategy to fund its growth and operational needs through debt financing. Investors should note the specific coupon rates and maturity dates of these new notes as they impact the company's future interest expense and debt maturity profile.

Nov 1, 2022 8-K

Blackstone Inc. 8-K Report, Corporate Update (Oct 31, 2022)

Blackstone Inc. (BX) has filed an 8-K report on October 31, 2022, to announce a significant financing activity. The company's indirect subsidiary, Blackstone Holdings Finance Co. L.P., intends to offer senior notes. These notes will be guaranteed by Blackstone Inc. itself and several other Blackstone Holdings L.P. entities, indicating a substantial commitment from the parent organization and its key holding entities to support this debt issuance. This offering represents a strategic move by Blackstone to access capital, likely for general corporate purposes, potential investments, or refinancing existing debt. Investors should note that the involvement of multiple Blackstone entities as guarantors suggests a solid backing for the proposed notes, which could influence credit ratings and investor confidence in the debt offering.

Oct 31, 2022 8-K

Blackstone Inc. 8-K Report, Financial Results (Oct 20, 2022)

Blackstone (NYSE: BX) reported third quarter 2022 results on October 20, 2022, with headline growth in fee-related earnings and assets under management offset by a sharp drop in GAAP and realized-performance earnings. GAAP net income attributable to Blackstone Inc. was only $2 million for the quarter ($0.00 per share), down from $1.40 billion a year earlier, driven by a $2.8 billion swing in unrealized performance revenues and a 61% decline in realized performance revenues in the segment view. Distributable Earnings fell 16% year over year to $1.37 billion ($1.06 per share), and Segment Distributable Earnings declined 13% to $1.58 billion, though year-to-date DE rose 36%. The operating story was stronger. Fee Related Earnings rose 51% to $1.18 billion ($0.98 per share), supported by a jump in Fee Related Performance Revenues (largely BREIT crystallization) and management fees that grew 22%. Total AUM reached a record $950.9 billion, up 30% year over year, with $44.8 billion of quarterly inflows and $337.8 billion over the last twelve months. Fee-Earning AUM rose 34% to $705.9 billion and Perpetual Capital AUM grew 83% to $359.6 billion, reinforcing the shift toward more stable, recurring revenue. Net Accrued Performance Revenues fell 15% year over year to $7.1 billion, reflecting distributions across strategies. The company declared a quarterly dividend of $0.90 per share, payable November 7, 2022 to holders of record on October 31, 2022, and returned roughly $1.4 billion to shareholders for the quarter through dividends and buybacks. Management emphasized that the balance sheet remains strong, with $18.1 billion of cash and net investments ($14.99 per share), an undrawn $4.1 billion revolver, and A+/A+ ratings. Investors should weigh the robust fee franchise and capital-raising momentum against the volatility of performance-driven earnings in a turbulent market.

Oct 20, 2022 8-K

Material AgreementsFinancial EventsExhibits & Filings

Blackstone Inc. 8-K Report, Financial Results (Jul 21, 2022)

Blackstone (BX) reported second quarter 2022 results on July 21, 2022, with a sharp contrast between strong fee-driven earnings and a GAAP loss driven by unrealized markdowns. GAAP net income was $(256) million for the quarter, with net income attributable to Blackstone Inc. of $(29) million, while year-to-date GAAP net income attributable to Blackstone Inc. was $1.2 billion. The GAAP loss reflects a $3.5 billion unrealized performance allocation reversal, which is non-cash and tied to public-market and fund valuation declines rather than realized cash losses. On a segment basis, Fee Related Earnings rose 45% year-over-year to $1.0 billion ($0.84/share), and Distributable Earnings rose 86% to $2.0 billion ($1.49/share), driven by a large jump in realized performance revenues. Assets under management reached a record $940.8 billion, up 38% year-over-year, with inflows of $88.3 billion in the quarter, the second-highest in the firm's 36-year history. Perpetual Capital AUM rose 110% to $355.9 billion, and dry powder hit a record $170.1 billion. These metrics support the long-term fee base, which is the key driver of recurring earnings. Net accrued performance revenues declined 22% quarter-over-quarter to $7.5 billion ($6.18/share), reflecting realized distributions and negative unrealized appreciation across several strategies, notably Corporate Private Equity (-6.7%) and Liquid Credit (-5.5% gross). The company declared a quarterly dividend of $1.27 per share, payable August 8, 2022, to holders of record on August 1, 2022. Blackstone ended the quarter with $19.8 billion in cash and net investments ($16.38 per share) and an A+/A+ credit rating. Investors should note that the filing is an earnings release furnished under Item 2.02, so figures are preliminary and unaudited, and the sharp swing between GAAP and segment results makes the performance-fee cycle the central variable to monitor.

Jul 21, 2022 8-K

Blackstone Inc. 8-K Report, Material Agreement (Jun 8, 2022)

Blackstone Inc. (BX) announced on June 7, 2022, the entry into an amended and restated $4.135 billion revolving credit facility by its indirect subsidiaries, Blackstone Holdings Finance Co. L.L.C. (as borrower) and various Blackstone Holdings entities (as guarantors). This facility, effective June 3, 2022, replaces a previous agreement and extends the maturity date to June 3, 2027. Key changes include an increase in the minimum required fee-generating assets under management to $271.0 billion, up from $175.0 billion, and the transition from LIBOR to SOFR as the reference rate. These adjustments reflect evolving market standards and a higher threshold for asset management, indicating continued growth expectations and operational adjustments within Blackstone's financing structure. The credit facility remains unsecured and includes customary covenants such as a maximum net leverage ratio.

Jun 8, 2022 8-K

Blackstone Inc. 8-K Report, Material Agreement (Jun 1, 2022)

On June 1, 2022, Blackstone Inc. (NYSE: BX) completed a €500 million offering of 3.500% Senior Notes due June 1, 2034, issued by its indirect subsidiary Blackstone Holdings Finance Co. L.L.C. and fully and unconditionally guaranteed by Blackstone Inc. and five Blackstone Holdings partnerships. The notes were sold to qualified institutional buyers under Rule 144A and to non-U.S. investors under Regulation S, and the company states the proceeds are for general corporate purposes. The filing discloses the terms under a 2009 base indenture with The Bank of New York Mellon as trustee, supplemented by a Twenty-Second Supplemental Indenture. For investors, the key terms are the annual coupon (paid each June 1 starting in 2023), the unsecured and unsubordinated ranking of both the notes and the guarantees, and the standard protections. These include a make-whole call before March 1, 2034, a par call thereafter, a 101% change-of-control put, and gross-up payments for withholding taxes. The covenants are relatively limited, restricting only certain liens on voting stock or profit-participating interests of subsidiaries and certain mergers or asset sales. Acceleration requires holders of at least 25% of principal, with automatic acceleration on bankruptcy events. The transaction is a routine debt refinancing or general-purpose funding action for an asset manager of Blackstone's scale rather than a signal of a change in strategy or financial condition. The filing does not disclose the offering yield, the use of proceeds in detail, or the company's broader leverage position, so investors would need to consult the company's other reports to assess the impact on its overall capital structure. The euro-denominated tranche also adds currency exposure at the issuer level, which the filing does not address directly.

Jun 1, 2022 8-K

Blackstone Inc. 8-K Report, Corporate Update (May 25, 2022)

Blackstone Inc. (NYSE: BX) announced on May 25, 2022 its intention to offer euro-denominated senior notes through Blackstone Holdings Finance Co. L.L.C., an indirect subsidiary. The offering is subject to market and other conditions, and the notes will be fully and unconditionally guaranteed by Blackstone Inc. and five of its indirect subsidiaries (Blackstone Holdings I, AI, II, III and IV L.P.). The filing is a routine Item 8.01 disclosure under Form 8-K, and the press release was issued under Rule 135c, which permits limited announcements of unregistered securities offerings. The filing does not disclose the offering size, coupon, maturity, pricing, or closing date, so investors cannot yet assess the size of the debt load or its cost. Management states the net proceeds are for general corporate purposes, which is typically vague and does not specify whether the funds will go to refinancing, acquisitions, or fund investments. The notes are being sold under Rule 144A in the U.S. and Regulation S abroad, so they are not registered and are limited to qualified institutional and non-U.S. buyers. For investors, the main significance is incremental leverage and the firm's continued access to euro debt markets. Because the notes carry a parent guarantee, they create a direct claim on Blackstone Inc.'s consolidated assets. Final terms, which would appear in a subsequent filing or pricing announcement, will determine whether the transaction materially changes Blackstone's leverage profile.

May 25, 2022 8-K

Blackstone Inc. 8-K Report, Corporate Update (May 25, 2022)

On May 25, 2022, Blackstone Inc. (NYSE: BX) disclosed via Form 8-K that Blackstone Holdings Finance Co. L.L.C., an indirect subsidiary, priced a €500 million offering of 3.500% Senior Notes due 2034. The notes are fully and unconditionally guaranteed by Blackstone Inc. and five of its Blackstone Holdings L.P. subsidiaries, which gives the notes the parent's credit support. Blackstone states the proceeds will go to general corporate purposes, without specifying particular uses such as acquisitions, debt refinancing, or fund commitments. The offering was sold under Rule 144A for U.S. qualified institutional buyers and Regulation S for non-U.S. investors, so the notes are unregistered and cannot be offered in the U.S. absent an exemption. The filing is a routine capital markets event rather than a material change in operations, and it includes no new financial results, guidance, or changes to Blackstone's business. The press release is furnished as Exhibit 99.1, and the euro-denominated pricing adds diversification to Blackstone's funding base. For investors, the key takeaways are that Blackstone is accessing European debt markets to add long-dated, fixed-rate, euro-denominated funding, and that the 3.5% coupon is the main observable cost metric. Investors should look to Blackstone's periodic reports for the effect on leverage, interest expense, and liquidity, since this filing does not disclose them.

May 25, 2022 8-K

Blackstone Inc. 8-K Report, Financial Results (Apr 21, 2022)

Blackstone (BX) reported first quarter 2022 results on April 21, 2022, describing it as one of the best quarters in the firm's 36-year history despite a difficult market backdrop. GAAP net income was $2.5 billion for the quarter ($1.2 billion attributable to Blackstone Inc.), and diluted GAAP EPS was $1.66, down from $2.46 a year earlier, largely reflecting lower unrealized performance revenues. The company's non-GAAP operating metrics were markedly stronger: Fee Related Earnings (FRE) rose 55% year-over-year to $1.1 billion ($0.95/share), Distributable Earnings (DE) rose 63% to $1.9 billion ($1.55/share), and Net Accrued Performance Revenues reached $9.5 billion ($7.94/share), up 84% year-over-year. Growth in the platform was the central theme. Total AUM reached a record $915.5 billion, up 41% year-over-year, with $49.9 billion of quarterly inflows and $288.7 billion over the last twelve months. Perpetual Capital AUM rose 127% to $338.2 billion, which supports the durability of recurring fee revenue. Real Estate, Private Equity, and Credit & Insurance all contributed to inflows, with Credit & Insurance (notably BCRED) and BREIT leading. Strong performance in flagship funds (Opportunistic real estate up 10.3% in the quarter, Secondaries up 8.5%) drove the accrued performance revenue increase. Investors should weigh the strong fee and performance trajectory against points the filing itself flags: results are preliminary and unaudited, quarterly GAAP earnings are volatile because they depend on unrealized marks, and the company's dividend policy targets roughly 85% of Blackstone Inc.'s share of DE. The declared quarterly dividend is $1.32 per share, payable May 9, 2022 to holders of record on May 2, 2022. Management also noted that a change in BREIT's performance-fee crystallization timing shifts realization timing, not total amounts. The company ended the quarter with $8.8 billion of total cash and corporate treasury investments, $20.6 billion of cash and net investments ($17.15/share), and $9.1 billion of debt at par.

Apr 21, 2022 8-K

Blackstone Inc. 8-K Report, Financial Results (Jan 27, 2022)

Blackstone (BX) reported record fourth quarter and full-year 2021 results, led by a sharp rise in performance revenues and fee-related earnings. Full-year GAAP net income attributable to Blackstone Inc. was $5.9 billion ($8.13 diluted EPS), versus $1.0 billion in 2020, and total revenues reached $22.6 billion. Management emphasized growth in the fee-earning franchise: Fee Related Earnings (FRE) rose 71% to $4.1 billion ($3.37/share) for the year and 144% to $1.8 billion in the quarter, while Distributable Earnings (DE) reached a record $6.2 billion ($4.77/share) for the year, up 85%. The headline growth driver was capital formation. Total assets under management rose 42% to $880.9 billion, with record inflows of $270.5 billion for the year, including $77.6 billion in the fourth quarter tied to the AIG Life & Retirement and Everlake transactions. Perpetual Capital AUM grew 132% to $313.4 billion, which supports more stable, recurring fee income. Net Accrued Performance Revenues reached a record $8.7 billion ($7.28/share), a useful indicator of future performance-fee potential, though these revenues are unrealized and subject to fund performance. For shareholders, the board declared a quarterly dividend of $1.45 per share (payable February 14, 2022), bringing full-year dividends to $4.06 per share, and Blackstone plans to return $6.5 billion to shareholders in 2021 through dividends and buybacks. Investors should note that the results are preliminary and unaudited, that the figures are non-GAAP in part, and that the presentation flags COVID-19 as a continuing risk factor.

Jan 27, 2022 8-K