Blackstone Inc. (BX)

Blackstone is the world's largest alternative asset manager. It seeks to deliver returns for institutional and individual investors by strengthening the companies and real estate assets in which it invests. Total Assets Under Management exceeded $1.3 trillion as of December 31, 2025, spanning real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds. The firm's stated mission is to fulfill its fiduciary duty by creating long-term value for investors, including pension funds that support retirees such as teachers, nurses and firefighters.

Blackstone reports four segments. Real Estate ($319.3 billion of AUM, about 785 employees) includes the opportunistic Blackstone Real Estate Partners funds, Core+ vehicles such as Blackstone Property Partners, BREIT and BEPIF, and the Blackstone Real Estate Debt Strategies platform, which includes the NYSE-listed mortgage REIT BXMT. Private Equity ($416.4 billion, about 720 employees) includes Corporate Private Equity (BCP, BCP Asia, energy transition and core equity funds), Tactical Opportunities, life sciences, growth equity, infrastructure (BIP and BXINFRA), secondaries (Strategic Partners and GP Stakes), capital markets services, and private wealth-focused platforms such as BXPE and BTAS. Credit & Insurance ($443.0 billion, about 815 employees) covers private corporate credit (including direct lending funds BCRED, BXSL and ECRED), liquid corporate credit including CLOs, infrastructure and asset based credit, and investment management for insurance and reinsurance clients. Multi-Asset Investing ($96.2 billion, about 240 employees) is the world's largest discretionary allocator to hedge funds, with Absolute Return, Multi-Strategy, Total Portfolio Management and Public Real Assets platforms, the last managed by Harvest Fund Advisors.

Blackstone's customers are institutional investors such as pension funds and insurance companies, along with a growing base of high-net-worth and mass affluent individual investors in the U.S. and other jurisdictions. The firm historically offered traditional drawdown funds to institutions and has expanded products distributed through its Private Wealth channel. Each segment includes Perpetual Capital vehicles, which have an indefinite term and are a significant and growing portion of management fees and performance revenues. Its investments span the Americas, Europe and Asia.

Blackstone is headquartered in New York and operates around the world. As of December 31, 2025, it employed approximately 5,285 people, including 268 senior managing directors. The firm attributes its record to hiring, training and retaining talented people together with a rigorous investment process.