Blackstone Tops $100B in Global RE AUM

Blackstone headquarters; commercial real estate is now its first segment to top $100 billion in assets under management.

NEW YORK CITY—Given the Blackstone Group’s extensive global activity in commercial real estate, it was only a matter of time before its assets under management in the sector exceeded $100 billion. In the first quarter of this year, the company’s real estate AUM reached $101.1 billion worldwide, making it Blackstone’s first segment to surpass the $100-billion threshold.

Across the board, Blackstone’s AUM reached record levels, ending Q1 at $344 billion. However, in common with many companies in the asset management and private equity space, the quarter was a challenging one. Blackstone reported Thursday that Q1’s economic net income dropped to $370.7 million, or 31 cents a share, from $1.62 billion in the year-ago period, a decline of about 77%.