Blackstone’s Cash Haul Sends Assets Closer to $1 Trillion
- Firm reeled in $155 billion in quarter, spurred by insurers
- Distributable earnings rose 55% from the year-earlier period
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Blackstone Inc. hauled in a record pile of new cash, taking its biggest quarterly leap yet toward a goal of managing $1 trillion.
The cash surge of $155 billion in the fourth quarter put the world’s largest alternative asset manager years ahead of schedule in hitting its asset target by 2026. The haul drove Blackstone’s distributable earnings to a record $2.3 billion, up 55% from a year earlier, it said in a statement Thursday.