Blackstone headquarters in New York City Blackstone’s Midtown Manhattan headquarters; the company is the world’s largest real estate investor, with real estate AUM now exceeding $111 billion.

NEW YORK CITY—The Blackstone Group’s largest segment globally by assets under management has grown even larger. The investment giant said Thursday its real estate AUM increased 9% over the past 12 months to $111.3 billion, a faster year-over-year growth rate than that of the company’s portfolio as a whole, with fee-earning AUM growing 14% from the year-ago period. Overall, Blackstone’s AUM reached $387.4 billion in the third quarter, a new record for the company.