Private Credit and Wealth Strategies Boost Blackstone's Growth
During a Thursday analyst call to discuss the results, Blackstone's leaders highlighted the fast expansion in the assets the New York-based firm manages across credit and insurance strategies, which as of June 30 totaled about $407.3 billion, a 23% increase from a year earlier. That made credit and insurance the fastest-growing of Blackstone's four broad investment segments, which also include real estate, private equity and multiasset investing. Blackstone at the end of June managed more than $250 billion for insurers alone across strategies such as investment-grade private credit and liquid credit, 20% more than a year earlier, President and Chief Operating Officer Jonathan Gray said on the call.
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