Blackstone assets hit record $1.27 trillion as inflows surge on infrastructure bet

Blackston (NYSE:BX) reported fourth-quarter results that surpassed Wall Street expectations, driven by the highest level of investor inflows in over three years.

The New York-based alternative asset manager posted net income of $1.02 billion, or $1.30 per share.

On an adjusted basis, distributable earnings reached $1.75 per share, handily beating the $1.52 consensus estimate from analysts surveyed by Zacks Investment Research.

The firm’s total Assets Under Management (AUM) climbed to a record $1.27 trillion, a 13% increase year-over-year, bolstered by $71.5 billion in new capital commitments during the quarter alone.

Revenue for the period reached $4.36 billion, while adjusted segment revenue stood at $3.94 billion, also topping market forecasts.

For the full year, Blackstone reported a total profit of $3.02 billion on revenue of $13.08 billion.