Summary by Futu AI
Blackstone delivered robust third-quarter 2024 results, with Distributable Earnings of $1.3 billion ($1.01 per share). Total Assets Under Management reached $1.11 trillion, up 10% year-over-year, driven by $40.5 billion of inflows in the quarter and $166.7 billion over the last twelve months.The firm deployed $34.0 billion in the quarter and committed an additional $20.1 billion, marking the highest investment activity in over two years. Fund performance showed broad-based acceleration, with the quarter representing the highest overall fund appreciation in three years. Private Credit gross returns were 16.7% over the last twelve months, while Corporate Private Equity appreciated 15.2%.Blackstone declared a quarterly dividend of $0.86 per share to record holders at the close of business on October 28, 2024, payable on November 4, 2024. Fee-Related Earnings were $1.2 billion ($0.96 per share) for the quarter, with Fee-Earning AUM growing 12% year-over-year to $820.5 billion.