On its third quarter of 2026 earnings call, held on Oct. 22, 2026, Blackstone (BX -0.66%) reported $1.7 billion in distributable earnings, which is net cash available for dividends. Total assets under management, representing the market value of managed investments, reached $1.4 trillion. Three key takeaways from management highlight how the business is positioning for long-term growth.
1. Data Center Growth Relies on Long-Term Counterparty ContractsArtificial intelligence (AI) infrastructure requires massive capital to build computing capacity and power generation. The company mitigates execution risks by securing long-dated commitments from financially stable corporate clients before breaking ground.
At Blackstone, we approach investments in this area with the same rigor and focus on risk-adjusted returns that have defined our investment process for four decades. In AI infrastructure, for example, our data center portfolio is built on durable, long term contracts with highly creditworthy counterparties.
-- Stephen Allen Schwarzman, Chairman and Chief Executive Officer2. Wealth Channel Expansion Drives Steady InflowsIndividual investors are expanding allocations to alternative assets beyond traditional stock and bond portfolios. BXP, the company's flagship private equity vehicle for individual investors, reached $29 billion in net asset value (NAV), or total assets minus liabilities, in less than three years.
Of course, it is all about investment performance, and BXP has delivered, achieving an 18% net annualized return since inception.
-- Jonathan D. Gray, President and Chief Operating Officer3. Investment Grade Credit Captures Insurance DemandInsurance companies are turning to private markets to generate excess yield over public corporate debt. The company's investment grade private credit business, which provides high-quality debt financing, expanded 24% year over year to nearly $150 billion.
We have established the largest non-captive insurance platform in our industry, including 40 clients in our dedicated insurance solutions area representing leading global firms, of which over half expanded their relationship with us in the past 12 months.
-- Jonathan D. Gray, President and Chief Operating OfficerLooking AheadFee revenues and total assets under management are climbing across key investment strategies. Management is tracking the stabilization of real estate values alongside fee growth from new institutional funds amid surging bond yields and higher borrowing costs.
The firm delivered resilient financial results and overall fund performance in the third quarter, and for the first 9 months of the year, generated double-digit year-over-year growth across fee revenues, fee-related earnings, realized performance revenues, and distributable earnings -- all against a backdrop of significant external volatility.
-- Michael S. Chae, Vice Chairman and Chief Financial OfficerMassive scale across credit, infrastructure, and private equity provides structural advantages when originating complex deals. Long-term capital commitments give the firm steady management fees across market cycles.
I have learned the most important thing during these periods is to keep our focus on delivering great results for limited partners, pioneering new markets for investment, and expanding our fundraising channels, all of which are occurring now. Our firm has enormous earnings power, and we expect outstanding results in the years ahead
-- Stephen Allen Schwarzman, Chairman and Chief Executive OfficerThe Motley Fool has positions in and recommends Blackstone. The Motley Fool has a disclosure policy.
Blackstone ve čtvrtletí vykázal upravený zisk 1,32 USD na akcii, čímž překonal odhad 1,26 USD na akcii, a tržby ve výši 3,22 mld. USD, což bylo o 3,03 % nad konsensem.
Blackstone Inc. (BX - Free Report) came out with quarterly earnings of $1.32 per share, beating the Zacks Consensus Estimate of $1.26 per share. This compares to earnings of $1.52 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +4.76%. A quarter ago, it was expected that this investment manager would post earnings of $1.33 per share when it actually produced earnings of $1.52, delivering a surprise of +14.29%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Blackstone Inc., which belongs to the Zacks Financial - Miscellaneous Services industry, posted revenues of $3.22 billion for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 3.03%. This compares to year-ago revenues of $3.3 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Blackstone Inc. shares have lost about 28.9% since the beginning of the year versus the S&P 500's gain of 13.3%.
What's Next for Blackstone Inc.?While Blackstone Inc. has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Blackstone Inc. was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.72 on $4.26 billion in revenues for the coming quarter and $5.85 on $14.63 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Miscellaneous Services is currently in the bottom 31% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Community Financial System (CBU - Free Report) , has yet to report results for the quarter ended September 2026. The results are expected to be released on October 27.
This bank holding company is expected to post quarterly earnings of $1.19 per share in its upcoming report, which represents a year-over-year change of +14.4%. The consensus EPS estimate for the quarter has been revised 1% higher over the last 30 days to the current level.
Community Financial System's revenues are expected to be $227.32 million, up 9.3% from the year-ago quarter.
Blackstone považuje obavy ze zadlužení souvisejícího s infrastrukturou pro AI za přehnané, protože financování datových center je z velké části zajištěno nejbonitnějšími společnostmi na světě.
Private equity giant Blackstone is putting itself at the center of the AI boom, firm veteran Jas Khaira discussed last week on stage at TechCrunch Disrupt.
It is writing checks via various strategies, ranging from offering massive loans to data centers to investing in frontier AI models and applications.
Earlier this year, the firm launched Blackstone N1 (BXN1), a San Francisco-based central hub for its AI initiatives. The group is led by Khaira, who relocated from New York to be at the epicenter of AI.
Unlike earlier tech cycles such as mobile or SaaS, which allowed companies to reach significant scale with moderate capital, the transition to AI requires staggering amounts of investment. That need for capital is precisely why Blackstone, with its $1.3 trillion in assets under management, could play such a critical role in this tech shift.
Khaira emphasized that Blackstone sets itself apart from traditional venture capitalists through its focus on compute financing and its ability to offer flexible capital structures, ranging from debt to equity. And it has been investing aggressively.
“We’re the largest owner of compute outside of the hyperscalers today, whether it’s investments in neo clouds, investments in data centers, and being able to use that compute strategically to support companies,” Khaira said.
For instance, BXN1 played a key role in several compute-related deals, among them Crux AI, a neocloud launched in partnership with Google to commercialize its custom TPUs, to which Blackstone committed $5 billion as an investor. It also backed four-year-old Etched, a chip startup whose rapid development has caught investor attention. Neoclouds are cloud providers that rent out AI GPU infrastructure.
Blackstone pioneered a financing structure that allowed it to lend massive sums to venture-backed cloud neoclouds by analyzing both committed customer contracts and using GPUs pledged as collateral.
Blackstone’s first such deal came in 2023 with CoreWeave, shortly after that neocloud saw demand explode following the launch of ChatGPT. Despite having only “30 million of revenue and minimal profitability” at that time, according to Khaira, CoreWeave approached Blackstone for a $2.3 billion loan.
CoreWeave was borrowing against the considerable value of its large collection of Nvidia GPUs, with Nvidia also an investor. Blackstone also grew more comfortable with the loan because CoreWeave had contracts with blue-chip customers like Microsoft.
That transaction quickly became the financing model for how Blackstone and other credit institutions provided billions in follow-on debt to CoreWeave and rival neoclouds.
“One of the primary things that we’re looking to is the nature of the customer. And if the customer is an investment-grade customer — let’s say it’s Microsoft or let’s say it’s Meta — the risk gets priced relative to that customer,” Khaira said.
Building on its success with CoreWeave, Blackstone struck other neocloud financing deals, including co-leading alongside Coatue a $10 billion credit facility for Australian GPU provider Firmus earlier this year.
Khaira acknowledged that in recent weeks, the large debt burdens accumulated by these companies and other neocloud operators have begun to raise red flags. Coreweave’s debt alone has since ballooned to about $50 billion, causing Altimeter Capital founder Brad Gerstner to note in a recent CNBC interview, “The collateral that CoreWeave is putting up which is really only GPUs is not good enough anymore. They used that in the past to get cheap debt.”
Khaira said that on the credit side, the market jitters stem from a combination of factors. Interest rates ticked up in September, and hotter-than-expected inflation signals that borrowing costs may keep climbing. The flood of AI infrastructure debt offerings isn’t helping either.
“We’re also seeing higher credit spreads,” Khaira said, explaining that lenders are charging higher premiums on top of already higher base interest rates to finance the AI buildout. “The cost of capital to price in debt for a Meta or a Microsoft has widened out,” he added, pointing out that even tech giants with massive balance sheets and solid earnings are paying more to borrow.
Concerns about the rising cost of debt have spilled into the stock market. Shares of CoreWeave dropped over 20% in recent days, while Firmus scrapped its planned IPO on the Australian Securities Exchange at a target valuation of roughly $30 billion.
“Ultimately, the market wasn’t there at that valuation, and so I think as a result, that deal didn’t get done,” Khaira said about Firmus’ cancelled listing.
“The market is thinking what is the right price for neoclouds, what is the right price for these businesses in this moment when interest rates are moving up,” he said.
Despite those pressures on some infrastructure providers, AI companies simply can’t get enough compute to power their models. Their appetite continues to drive data center buildout.
Khaira downplayed worries of doom-mongers that the massive accumulation of AI infrastructure debt could lead to a widespread credit crisis, or worse, crash the economy altogether. “This doesn’t feel like something where you’ve got 2008 banks that are shaky credits,” he said.
Instead, he pointed out that because the vast majority of data centers are built for hyperscalers, the debt financing them is ultimately backed “by the most creditworthy companies in the world.”
Beyond funding data centers, Blackstone is helping companies adopt AI through a $1.5 billion joint venture called “Ode with Anthropic,” formed alongside Anthropic and Hellman & Friedman this year. Ode supplies forward-deployed engineers to help companies adopt AI and integrate it into their operations, starting with Blackstone’s 280 portfolio companies.
When asked if Blackstone-owned companies are seeing tangible gains from AI, Khaira conceded that “there is definitely ROI, but it is uneven.” He described technology adoption as something that could move in a “sawtooth-type pattern,” which, to skeptics, can look like an oversupply of compute before adoption catches up.
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NEW YORK--(BUSINESS WIRE)--Blackstone (NYSE: BX) today announced the final close of Blackstone Energy Transition Partners V (“BETP V”) at $8.7 billion – more than 50% larger than its predecessor vehicle. The significantly oversubscribed fund reached its hard cap and builds on the strong performance of the strategy’s prior vintages.
Blackstone Energy Transition Partners (“BETP”) seeks to build energy companies at scale that deliver cleaner, more reliable and more affordable energy to meet growing global needs. BETP’s energy transition investments have generated, as of June 30, a 34% net IRR since 1997, reflecting the strength of its differentiated strategy. In 2025, BETP was named IJ Investor’s “Fund Manager of the Year – Equity” for North America, recognizing its leadership in delivering investment performance at scale.
David Foley, Global Head of Blackstone Energy Transition Partners, said: “We believe there is a generational opportunity for experienced investors in the energy transition to provide solutions to the challenges posed by growing demand for electricity. By backing exceptional management teams with flexible, patient equity capital to increase manufacturing capacity, recruit and train skilled labor and construct new critical energy infrastructure assets, BETP is delivering those solutions and in the process building these companies to scale, creating jobs and generating lasting value for our investors. We are deeply grateful for the trust of our investors and look forward to deploying BETP V in investments that advance the transition to a more affordable, reliable and cleaner energy future.”
BETP V began its investment period in June and has already funded three distinct platform companies (Kindle, Fisterra and Viridon) backing proven management teams to develop and operate new power generation and electric transmission lines, and has also made three acquisitions focused on energy efficiency and resiliency, including:
Flow Control Holdings – a rapidly growing, leading U.S. provider of highly engineered flow control solutions and components for data center liquid cooling, a more energy efficient alternative to air cooling Dresser Utility Solutions – the leading North American provider of measurement (meters), control (regulators, pressure relief valves) and infrastructure repair products for gas and water utilities DarkVision – a provider of innovative, technology-enabled asset inspection services that enhance the safety, reliability and productivity of critical energy infrastructure Since January 2025, BETP has committed over $11 billion in new equity investments across the energy transition ecosystem. This includes transactions in critical energy equipment manufacturers (Maclean Power Systems, Delta Star, Power Grid Components, Arlington Industries, Advanced Cooling Technologies), essential services (Alliance Technical Group, Shermco), energy data analytics (Enverus) and highly-efficient natural gas-fired power infrastructure (Hill Top Energy Center, Wolf Summit Energy, and Potomac Energy Center).
In addition, BETP has successfully monetized several of its mature investments in predecessor funds over the same period, including:
Reaching an agreement to sell Aypa Power, a leading North American battery storage platform with a 6.0 GW portfolio of storage assets Selling a majority interest in Sabre Industries, a leading manufacturer of highly-engineered critical infrastructure for power utilities, telecom and data centers Completing the IPO of Legence (NASDAQ: LGN), a premier provider of specialty mechanical contracting and engineering services for mission critical data center, healthcare and high-specification C&I end markets About Blackstone Energy Transition Partners:
Blackstone Energy Transition Partners is Blackstone’s strategy for control-oriented equity investments in energy-related businesses, a leading energy investor with a successful long-term record, having committed over $34 billion of equity globally across a broad range of sectors within the energy industry. The strategy generally excludes investments in the ownership of hydrocarbon reserves and the extraction thereof. (The returns shown above similarly exclude such upstream investments despite the fact that earlier fund vintages were not managed to exclude such investments.) Blackstone Energy Transition Partners’ investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering more reliable, affordable and cleaner energy to meet the needs of the global community. In the process, Blackstone Energy Transition Partners builds stronger, larger scale enterprises, creates jobs and generates lasting value for its investors, employees and all stakeholders. Further information is available at https://www.blackstone.com/our-businesses/blackstone-energy-transition-partners/.
About Blackstone:
Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s over $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.
Analytici očekávají, že Blackstone za čtvrtletí vykáže zisk 1,30 USD na jednu akcii, což představuje meziroční pokles o 14,5 %, při tržbách ve výši 3,34 mld. USD.
In its upcoming report, Blackstone Inc. (BX - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $1.30 per share, reflecting a decline of 14.5% compared to the same period last year. Revenues are forecasted to be $3.34 billion, representing a year-over-year increase of 1.3%.
Over the last 30 days, there has been a downward revision of 0.7% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Bearing this in mind, let's now explore the average estimates of specific Blackstone Inc. metrics that are commonly monitored and projected by Wall Street analysts.
According to the collective judgment of analysts, 'Segment Revenues- Realized Principal Investment Income' should come in at $47.40 million. The estimate suggests a change of -24.2% year over year.
The combined assessment of analysts suggests that 'Segment Revenues- Credit & Insurance- Total Management Fees, Net' will likely reach $516.91 million. The estimate indicates a year-over-year change of +4%.
Analysts expect 'Segment Revenues- Private Equity- Base Management Fees' to come in at $707.23 million. The estimate suggests a change of +12.5% year over year.
It is projected by analysts that the 'Segment Revenues- Multi-Asset Investing- Total Management Fees, Net' will reach $165.20 million. The estimate points to a change of +19.3% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Fee-Earning Assets Under Management Rollforward - Private Equity' of $276.19 billion. Compared to the current estimate, the company reported $235.00 billion in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Fee-Earning Assets Under Management Rollforward - Real Estate' should arrive at $278.52 billion. Compared to the present estimate, the company reported $282.58 billion in the same quarter last year.
Analysts' assessment points toward 'Fee-Earning Assets Under Management Rollforward - Hedge Fund Solutions (Multi-Asset Investing)' reaching $100.97 billion. Compared to the present estimate, the company reported $83.45 billion in the same quarter last year.
The average prediction of analysts places 'Fee-Earning Assets Under Management Rollforward - Credit & Insurance' at $326.02 billion. Compared to the current estimate, the company reported $305.19 billion in the same quarter of the previous year.
Analysts predict that the 'Fee-Earning Assets Under Management' will reach $981.70 billion. The estimate compares to the year-ago value of $906.22 billion.
The consensus among analysts is that 'Total Assets Under Management - Hedge Fund Solutions (Multi-Asset Investing)' will reach $111.25 billion. Compared to the current estimate, the company reported $93.32 billion in the same quarter of the previous year.
The consensus estimate for 'Total Assets Under Management - Credit & Insurance' stands at $481.30 billion. The estimate compares to the year-ago value of $432.32 billion.
Analysts forecast 'Total Assets Under Management - Real Estate' to reach $317.99 billion. The estimate compares to the year-ago value of $320.49 billion.
View all Key Company Metrics for Blackstone Inc. here>>>
Over the past month, shares of Blackstone Inc. have returned -14.7% versus the Zacks S&P 500 composite's +1.5% change. Currently, BX carries a Zacks Rank #4 (Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Společnost Blackstone má za čtvrtletí končící v září 2026 vykázat EPS ve výši 1,31 USD, což představuje meziroční pokles o 13,8 %, při výnosech 3,36 mld. USD (+1,9 %).
The market expects Blackstone Inc. (BX - Free Report) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 22. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis investment manager is expected to post quarterly earnings of $1.31 per share in its upcoming report, which represents a year-over-year change of -13.8%.
Revenues are expected to be $3.36 billion, up 1.9% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.69% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Blackstone Inc.?For Blackstone Inc., the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -2.65%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination makes it difficult to conclusively predict that Blackstone Inc. will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Blackstone Inc. would post earnings of $1.33 per share when it actually produced earnings of $1.52, delivering a surprise of +14.29%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Blackstone Inc. doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
An Industry Player's Expected ResultsAmong the stocks in the Zacks Financial - Miscellaneous Services industry, Triumph Financial (TFIN - Free Report) , is soon expected to post earnings of $0.6 per share for the quarter ended September 2026. This estimate indicates a year-over-year change of +215.8%. This quarter's revenue is expected to be $122.22 million, up 11.8% from the year-ago quarter.
The consensus EPS estimate for Triumph Financial has been revised 4.9% lower over the last 30 days to the current level. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +2.93%.
This Earnings ESP, combined with its Zacks Rank #2 (Buy), suggests that Triumph Financial will most likely beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Waymo, the autonomous vehicle technology company under Google parent Alphabet, closed a $5 billion loan from a series of high-profile lenders, including PIMCO, Blackstone, and Sixth Street.
The debt financing — Waymo’s first — comes as the company accelerates its commercial expansion within existing cities while pushing into new markets in the United States, Europe, and Japan. Waymo described the debt financing as an important step in its evolution into a “scaling commercial enterprise.”
Other lenders in the $5 billion loan include Capital Group, Loomis Sayles, T. Rowe Price, Apollo, Blue Owl, Diameter Capital Partners, Franklin Templeton, Fidelity Management & Research Company, HPS Investment Partners, and Oaktree, Waymo said on Thursday. Goldman Sachs served as the sole lead bookrunner.
Until now, Waymo has relied on capital from its parent company and outside investors. In February, Waymo raised $16 billion in equity from investors that pushed its valuation to $126 billion. Dragoneer Investment Group, DST Global, and Sequoia Capital led the funding round. Alphabet, which supported the round, has maintained its position as majority investor. The company raised $5.6 billion in a Series C funding round in 2024, $2.5 billion in 2021, and $3.2 billion in 2020.
A Waymo spokesperson said in an email that the debt financing will give the company financial flexibility to strengthen its balance sheet and position it to “capitalize on the significant opportunities ahead, especially as a scaling business with proven commercial demand and improved road safety outcomes in the communities in which we operate.”
Formerly a self-driving project within Google, Waymo spent years testing its autonomous vehicle tech on public roads in Silicon Valley and the Bay Area and providing the occasional public or media demo. The company expanded in 2016 to Phoenix, which would become its first robotaxi market.
In August 2023, Waymo received the final necessary permit to operate a robotaxi service and charge for rides in California, a milestone that would kick off a more aggressive commercial playbook. Since then, Waymo has launched in multiple California cities, including Los Angeles, San Francisco, and more recently San Diego. It has also brought its robotaxi service to numerous other U.S. markets, including Austin, Dallas, and Houston in Texas and Miami, Orlando, and Tampa in Florida. Waymo now offers robotaxi services in 15 markets.
Waymo is keen to take its robotaxi services global, too. The company is testing in London and Tokyo and plans to launch in those cities.
The company’s growth has also spurred criticism and increased attention from regulators.
The National Highway Traffic Safety Administration’s Office of Defects Investigation opened an investigation into the illegal behavior of Waymo robotaxis around school buses. The federal safety regulator also launched an investigation after a Waymo robotaxi hit a child near a school. The child, who sustained minor injuries, was struck at about 6 mph. Earlier this year, the National Transportation Safety Board (NTSB) opened its own investigation into Waymo after its robotaxis were spotted illegally passing stopped school buses numerous times in at least two states.
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Kirsten Korosec is a reporter and editor who has covered the future of transportation from EVs and autonomous vehicles to urban air mobility and in-car tech for more than a decade. She is currently the transportation editor at TechCrunch and co-host of TechCrunch’s Equity podcast. She is also co-founder and co-host of the podcast, “The Autonocast.” She previously wrote for Fortune, The Verge, Bloomberg, MIT Technology Review and CBS Interactive.
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IDP Education odmítla nabídku Blackstone na převzetí za 694,7 milionu A$, protože ji považuje za výrazně podhodnocenou. Akcie po zprávě vzrostly o 20,7 %.
IDP Education (IEL.AX) has rejected a roughly A$694.7 million ($493.8 million) takeover proposal from Blackstone (BX.N), arguing the sweetened bid was "highly opportunistic" and substantially undervalued the business.
The rejection underscores a broader standoff between private equity buyers seeking opportunities in beaten-down Australian stocks and company boards that argue short-term industry headwinds are masking the value of their businesses.
On September 9, funds managed by the US private equity giant had offered A$2.50 per share in cash for the co-owner of the IELTS English language exam, representing a premium of about 56% to IDP's close on September 8.
Shares of Melbourne-based IDP settled 20.7% higher at A$2.16 a more than one-month high on Tuesday.
The Australian firm, which had rejected an earlier A$2.3 per-share proposal from Blackstone, cited its ongoing multi-year transformation programme as one of the reasons for the rejection.
"Board also considers that the indicative proposal does not factor in the future earnings potential of the business... and the associated benefits that are yet to be realised," the firm said in a statement.
IDP has come under pressure in recent years as tighter immigration and student visa policies in Australia, Canada and Britain weighed on its earnings, with its shares falling nearly 100% from a 2021 peak.
Last month, the firm flagged weaker 2027 earnings, underscoring the pressures facing the international education sector as government policies shift, resulting in fewer visa approvals and softer demand.
The firm reported a 25% decline in student volumes across its four key destination markets - Australia, the UK, the US and Canada in fiscal year 2026.
Blackstone uvedl, že vidí „boom firemních zisků“ a silnou poptávku po kapitálu v oblasti AI infrastruktury, private credit a private wealth. Za posledních 12 měsíců získal přes 260 miliard USD čistých přílivů, což je meziročně o 24 % více.
AI Data Centers Are Splitting Winners From Pretenders in Infrastructure StocksBlackstone NYSE: BX CFO Michael Chae said the firm sees a constructive backdrop for corporate profits, investment deployment and fundraising, citing accelerating earnings growth, expanding margins and demand for capital across infrastructure, private credit and private wealth markets.
Speaking at a financial services conference, Chae described the current environment as a “corporate earnings boom,” pointing to what he said was the fastest S&P earnings growth in five years during the second quarter. He added that 2026 is currently projected to be the strongest year for S&P earnings growth in 25 years, excluding rebound periods following the global financial crisis and COVID-19.
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Jersey Mike's Serves Fresh Gains After IPO StumbleChae said investment in digital and energy infrastructure is driving the expansion, while remaining below the scale of prior investment cycles as a percentage of gross domestic product. He also said companies are only beginning to capture AI-related productivity gains at scale. Blackstone’s portfolio companies have expanded margins by about 700 basis points on average over the past 40 years, reaching the high-30% range, he said.
Deployment and Realizations Chae said scale and a broad investment platform are increasingly important because major global markets need more capital to support growth. He identified AI-related infrastructure, power and electrification, life sciences, private-market liquidity solutions, secondaries, private investment-grade credit and investments in India and Japan as key opportunity areas.
AI Consolidation Begins: Blackstone & Google Forge an AI EmpireAccording to Chae, 70% of Blackstone’s largest investments over the past 12 months were in those areas. He said the firm’s ability to invest across strategies and regions differentiates it from more narrowly focused asset managers.
On exits, Chae acknowledged that traditional private-equity realizations have remained constrained and that sponsor-backed transaction volumes have recovered more gradually than the broader mergers-and-acquisitions market. However, he said Blackstone has benefited from its exposure to larger, higher-quality companies that appeal to public-market investors.
Blackstone completed nine initial public offerings over the past year, including five since May. About one-third of its corporate private-equity net accrued performance receivable, or NAPR, is publicly traded, Chae said. The firm has six IPOs currently on file globally. Its energy private-equity business doubled its NAPR over the past year to more than $1 billion, driven by investments in power and electrical equipment. Fundraising and 2027 Outlook Blackstone raised more than $260 billion of inflows over the past 12 months, representing 24% growth from the prior trailing 12-month period and its strongest fundraising stretch in nearly four years, Chae said. He attributed the results to demand across institutional, insurance and individual-investor channels.
Institutional inflows rose nearly 50% year over year in the second quarter, he said, while multiple Blackstone drawdown funds reached hard caps. Infrastructure assets under management rose 40% year over year to $90 billion as of the second quarter.
In insurance, Blackstone manages $290 billion of assets as the largest non-captive alternative insurance platform, Chae said. That figure has increased nearly fourfold over five years. The firm’s dedicated insurance-solutions business serves 40 clients, a number that has doubled during the past two years.
Assets under management from individual investors reached $324 billion, up nearly 2.5 times over five years. Chae said the firm has flagship wealth products spanning real estate, private equity, infrastructure, credit and hedge funds.
Looking toward 2027, Chae reiterated Blackstone’s expectation for a return to double-digit base management-fee growth. He cited the full-year contribution from new drawdown funds, expansion of perpetual-capital vehicles, momentum in the BXMA hedge-fund solutions business, transaction fees and a constructive outlook for realizations.
AI Investment Strategy and Operations Chae said Blackstone’s AI strategy spans data centers, power, frontier AI companies, credit and partnerships with technology firms. He said the firm invests in data centers supported by committed leases typically lasting 15 to 20 years with highly creditworthy tenants, built-in escalators and attractive yields on cost.
He said Blackstone’s power investments were initially based on the long-term need for electrification and grid modernization, a thesis that has been strengthened by AI-related electricity demand. The firm has also made what Chae called “sensibly sized bets” in frontier AI companies with potential for substantial upside.
Blackstone is partnering with Google to create Crux AI, a neocloud for TPUs; launched Ode with Anthropic in July to support enterprise AI adoption; and has created financing platforms with Broadcom and NVIDIA, Chae said.
Internally, Blackstone is using AI to improve investment decisions, portfolio-company performance and its own operations. The firm has more than 50 data scientists, over 1,000 technology professionals and more than 100 operating executives involved in implementation, he said. Areas of focus include software development, legal and compliance, cybersecurity and valuations.
Credit, BXMA and Private Wealth Chae said Blackstone’s credit platform has $550 billion in assets under management, including direct lending, collateralized loan obligations, real estate private credit, and infrastructure and asset-based credit. The latter business had more than $125 billion in assets and grew 28% year over year in the second quarter.
He said direct-lending spreads have widened by 25 to 50 basis points since the start of the year while loan-to-value ratios have declined. Across BCRED borrowers, EBITDA grew 10% over the previous 12 months, while average interest coverage rose to roughly 2.3 times. Software borrowers continued to generate double-digit EBITDA growth, he said.
BCRED experienced a sharp quarter-over-quarter decline in new repurchase requests, Chae said. Investors submitting redemption requests in the second and third quarters will have received approximately 75% of their capital back. The fund recorded $3.5 billion of repayments and inflows during the quarter, covering repurchased shares by about 160%, according to Chae.
Chae also highlighted BXMA, which had $109 billion in assets under management as of the second quarter. Its largest strategy generated a 12% annualized return over three years and recorded 25 consecutive quarters of positive returns through the second quarter, he said. BXMA’s new private-wealth perpetual product, BXHF, held an initial close of more than $200 million in August.
Chae said the firm believes the market continues to underappreciate its near-term earnings power and long-term position as private-market adoption expands. He added that concerns around private credit, private-wealth flows and capital markets have begun to ease during the year.
About Blackstone (NYSE:BX)Blackstone Inc is a global alternative asset management firm that provides investment management and advisory services to institutions, corporations, and individual investors. The company invests across multiple asset classes, including private equity, real estate, credit, infrastructure, insurance solutions, and hedge fund solutions.
Its investment activities include acquiring and managing businesses, commercial and residential properties, infrastructure assets, and credit investments.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Enbridge koupí od Blackstone ropný byznys Tallgrass Energy za 2,55 miliardy USD v hotovosti a rozšíří svou americkou síť ropovodů. Uzavření se čeká později v roce 2026.
Enbridge (ENB.TO) said on Wednesday it will acquire Blackstone (BX.N)-owned Tallgrass Energy's crude oil business for $2.55 billion in cash, expanding its U.S. liquids pipeline network by buying a majority stake in the Pony Express Pipeline and other assets.
The Canadian pipeline operator said the deal would strengthen its presence in key U.S. crude-producing regions, including the Bakken, Powder River and Denver-Julesburg basins, while creating operational synergies with its existing Express-Platte pipeline system.
Pipeline operators such as Enbridge are benefiting from rising demand for natural gas, utility infrastructure and power supply for data centers, allowing the company to generate steady growth even amid geopolitical tensions and commodity price volatility.
Enbridge will acquire a 75% interest in the Pony Express Pipeline, a 1,050-mile (1,690-km), 460,000-barrel-per-day (bpd) crude system that links production in the Rockies to the Cushing, Oklahoma, storage hub and provides access to about 500,000 bpd of refining capacity.
The acquisition, expected to close later in 2026, subject to regulatory clearance, also includes a 51% stake in the Powder River Gateway pipeline system, nearly 8.4 million barrels of storage across nine crude terminals connected to Pony Express, and the crude marketing business Stanchion Energy.
Enbridge said the acquisition is expected to be accretive to distributable cash flow per share in the first full year of ownership, while leaving its 2026 financial guidance unchanged.
The company added that it plans to partially fund the acquisition through an equity offering, alongside its August 26 purchase of Salt Creek Midstream's crude gathering business.
Enbridge said its C$41 billion($29.70 billion)secured growth backlog will be financed through an average annual growth capital investment capacity of C$10 billion to C$11 billion.
In April, U.S. President Donald Trump issued several pipeline permits, including one for construction of a new pipeline, to facilitate the transportation of crude oil and petroleum products between the U.S. and Canada.
HSBC prodá australské portfolio hypotečních a osobních úvěrů za A$36 miliard společnosti Blackstone a postupně ukončí zbývající retailové bankovnictví v Austrálii během 18 měsíců.
A Hongkong and Shanghai Banking Corporation (HSBC) logo is displayed outside a bank branch in Sydney, Australia, August 19, 2025. REUTERS/Hollie Adams Purchase Licensing Rights, opens new tab
SummaryCompaniesHSBC to wind down remaining Australian retail banking business over 18 monthsDeal expected to close in 1H 2027, subject to regulatory approvalsHSBC to focus on corporate, institutional banking franchise in Australia, NZJuly 31 (Reuters) - HSBC (HSBA.L), opens new tab, (0005.HK), opens new tab said on Friday it would sell its A$36 billion ($25.30 billion) Australian home and personal loan portfolio to investment giant Blackstone (BX.N), opens new tab, marking its phased exit from retail banking in the country.
The portfolio will be acquired by Virgo BidCo, wholly owned by funds managed by affiliates of Blackstone, in a deal expected to close in the first half of 2027. The final purchase price will be adjusted before completion to reflect factors including new loan originations.
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HSBC said the sale followed a strategic review as part of the group's efforts to simplify operations under CEO Georges Elhedery. The remainder of HSBC Australia's retail business would be wound down in phases over the next 18 months.
Since taking over in September 2024, Elhedery has reorganised the bank along East-West lines, exited sub-scale investment banking businesses in the U.S. and Europe, and reduced senior management ranks.
The bank said it would retain and grow its corporate and institutional banking, private banking and asset management operations in Australia following the retail exit.
In a separate statement, Blackstone said the transaction underscored its long-term commitment to Australia, where it has invested for nearly two decades, and reflected its interest in the country's housing market.
HSBC expects the disposal to result in an immaterial loss of less than $100 million by the first half of 2027. It also expects to incur about $300 million in restructuring costs and write-offs linked to the wind-down of the retail business.
After this, it expects to recycle about $300 million of foreign currency translation reserve losses to its income statement, with no incremental impact on common equity tier 1 capital ratio — one of the key metrics for a bank's financial strength and capital adequacy.
($1 = 1.4231 Australian dollars)
Reporting by Roshan Thomas in Bengaluru; Editing by Sahal Muhammed and Shilpi Majumdar
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A logo of Blackstone is pictured in Manhattan, New York City, U.S. July 29, 2025. REUTERS/Mike Segar/File Photo Purchase Licensing Rights, opens new tab
SummaryCompaniesBidding for MarineMax has moved into third roundDonerail, Blackstone, Centerbridge among interested partiesInvestment firm Donerail began pushing for a sale last yearNEW YORK, July 24 (Reuters) - Investment firms Blackstone (BX.N), opens new tab and Donerail are among the final bidders to acquire MarineMax (HZO.N), opens new tab, two people familiar with the matter said on Friday, as the recreational yacht retailer explores selling itself.
The two, as well as private equity firm Centerbridge, are in the final round of bidding for the Clearwater, Florida-headquartered company, said the sources who are not permitted to discuss private deliberations.
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MarineMax, which has a market value of around $725 million, caters to a wealthy clientele through its 65 marinas and storage locations and 70 dealerships, mostly in the U.S. It has attracted significant interest at a time the marina business has become a popular investment area.
Donerail began pushing MarineMax to sell itself or replace its chief executive officer last year, intensifying pressure on the company after Levin Capital in 2024 urged management and the board to evaluate strategic alternatives.
Representatives for MarineMax, Blackstone, and Donerail declined to comment. A representative for Centerbridge did not immediately respond to a comment request.
The company has made some changes aimed at addressing concerns of disgruntled investors, including replacing board directors, but has never publicly acknowledged running a sales process including on Thursday when it reported quarterly earnings.
Reuters reported in February that Donerail submitted an all-cash offer which valued MarineMax at around $1 billion. Donerail subsequently raised its offer, while other buyout firms including Blackstone jumped into the mix as the company formally solicited buyer interest from April onwards.
Marinas and superyacht services have seen significant dealmaking in the last 18 months, with investment firms being particularly active.
Lower interest rates have supported high-end consumers' spending on luxury items like yachts even as other economic brackets are forced to tighten their belts.
Blackstone, through its infrastructure arm, bought Safe Harbor Marinas in 2025 for $5.7 billion. Fellow infrastructure investor Stonepeak acquired marina owner and operator Southern Marinas in April.
MarineMax was trading around $33.30 per share around midday on Friday, putting year-to-date gains around 37%. However, it is still trading at roughly half the value of its lifetime high hit in May 2021.
Reporting by Svea Herbst-Bayliss; Editing by David French and Sanjeev Miglani
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Blackstone podle CEO Stephena Schwarzmana řeší společenské a environmentální dopady rozvoje AI, včetně pracovních míst, životního prostředí a komunit. Firma zároveň čelí rostoucímu odporu vůči výstavbě datových center v USA.
Stephen Schwarzman, CEO and Co-Founder of Blackstone Group, attends the 55th annual World Economic Forum (WEF) meeting in Davos, Switzerland, January 23, 2025. REUTERS/Yves Herman/File Photo Purchase Licensing Rights, opens new tab
CompaniesNEW YORK, July 23 (Reuters) - Blackstone (BX.N), opens new tab is working to address the societal and environmental implications of artificial intelligence development, CEO Stephen Schwarzman said on Thursday, as opposition to data center construction mounts in the U.S.
Blackstone, opens new tab and other private capital firms are pouring tens of billions of dollars into businesses and infrastructure that aim to increase compute capacity and run power-hungry models.
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But the otherwise deeply divided American electorate is united across party lines when confronted by the pace of data center construction, and only 14% would support one being built in their community for technology firms, according to a June Reuters/Ipsos poll.
Blackstone is working closely with portfolio companies including data-center businesses "to address the workforce, environmental and community implications of development through the creation of union jobs, workforce training, water-free cooling systems, expanded power generation and significant local economic investment," Schwarzman said on a conference call.
While the impact of AI could echo the industrial revolution, which eventually raised living standards, Schwarzman said, "Major change of this type also creates anxiety due to the uncertainty of how the technology will evolve."
Data-center operator QTS, which Blackstone took private for $10 billion in 2021, said earlier this month that it had terminated a project in Virginia after years of planning. The project had faced strong local opposition and litigation, despite being approved by county authorities.
U.S. President Donald Trump's administration sees AI development as a race against China, but is also working to shield households from an attendant rise in energy costs.
Schwarzman, a longtime Trump donor, said he had personally been "spending a lot of time with leaders in the industry and various policymakers thinking about how to address these critical issues, while also preserving the advance of America's AI leadership."
Reporting by Isla Binnie; Editing by Nia Williams
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Isla Binnie reports on how company directors and executives manage stakeholder and shareholder interests, with a focus on compensation, corporate crises, dealmaking and succession. She also covers how politics, regulation, environmental issues and the broader economy affect boardroom discussions. Isla previously covered business, politics and general news in Spain and Italy. She trained with Reuters in London and covered emerging markets debt for the International Financing Review (IFR).
Basil writes stories across the U.S. finance file including banks, asset managers, payment firms, insurers, and exchange operators. He also covers initial public offerings on U.S. exchanges and venture capital funding.
Blackstone ve čtvrtletí končícím v červnu 2026 zvýšil výnosy o 23,7 % na 3,8 miliardy USD a EPS vzrostl na 1,52 USD. Výsledek překonal odhady Wall Street.
For the quarter ended June 2026, Blackstone Inc. (BX - Free Report) reported revenue of $3.8 billion, up 23.7% over the same period last year. EPS came in at $1.52, compared to $1.21 in the year-ago quarter.
The reported revenue represents a surprise of +12.7% over the Zacks Consensus Estimate of $3.37 billion. With the consensus EPS estimate being $1.33, the EPS surprise was +14.29%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Blackstone Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Fee-Earning Assets Under Management Rollforward - Private Equity: $267.82 billion versus $262.28 billion estimated by four analysts on average.Fee-Earning Assets Under Management Rollforward - Real Estate: $277.42 billion versus the four-analyst average estimate of $278.48 billion.Fee-Earning Assets Under Management Rollforward - Hedge Fund Solutions (Multi-Asset Investing): $98.11 billion versus the four-analyst average estimate of $92.81 billion.Fee-Earning Assets Under Management Rollforward - Credit & Insurance: $318.24 billion compared to the $323.02 billion average estimate based on four analysts.Segment Revenues- Realized Principal Investment Income: $27.5 million versus the four-analyst average estimate of $40.06 million. The reported number represents a year-over-year change of -6.5%.Segment Revenues- Credit & Insurance- Total Management Fees, Net: $572.76 million versus the four-analyst average estimate of $516.72 million. The reported number represents a year-over-year change of +21.7%.Segment Revenues- Private Equity- Base Management Fees: $681.44 million versus the four-analyst average estimate of $684.56 million. The reported number represents a year-over-year change of +12.6%.Segment Revenues- Multi-Asset Investing- Total Management Fees, Net: $155.88 million compared to the $152.81 million average estimate based on four analysts. The reported number represents a change of +18.3% year over year.Segment Revenues- Real Estate- Total Management Fees, Net: $727.08 million versus $682.51 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +2.2% change.Segment Revenues- Private Equity- Total Management Fees, Net: $794.58 million versus the four-analyst average estimate of $776.89 million. The reported number represents a year-over-year change of +12.5%.Segment Revenues- Total Management and Advisory Fees, Net: $2.25 billion compared to the $2.13 billion average estimate based on four analysts. The reported number represents a change of +11.4% year over year.Segment Revenues- Base Management Fees: $1.96 billion versus the four-analyst average estimate of $1.99 billion. The reported number represents a year-over-year change of +4.5%.View all Key Company Metrics for Blackstone Inc. here>>>
Shares of Blackstone Inc. have returned +8.7% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Blackstone ve 2. čtvrtletí zvýšil distributabilní zisk na akcii o 26 % na 1,52 USD díky růstu spravovaných aktiv na 1,35 bilionu USD. Těží také z investic do AI, kde je navázáno devět z jeho deseti nejlepších pozic.
A logo of Blackstone is pictured in Manhattan, New York City, U.S. July 29, 2025. REUTERS/Mike Segar/File Photo Purchase Licensing Rights, opens new tab
SummaryCompaniesInflows boost assets under management to $1.35 trillionNine of Blackstone's 10 best-performing holdings are tied to AIBlackstone is deepening ties with AI innovators - CEO SchwarzmanJuly 23 (Reuters) - Blackstone (BX.N), opens new tab, the world's largest alternative asset manager, reported rising income for the second quarter on Thursday, buoyed by growing assets under management and reaping profit from a mammoth bet on artificial intelligence.
The New York-based company said inflows in the quarter pushed total assets to $1.35 trillion, while distributable earnings, or profit available to shareholders, rose 26% on a per-share basis to $1.52.
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Blackstone shares rose 2.7% in premarket trading. The stock has slipped 20% this year through last close.
Deals to sell a stake in three data centers to Digital Realty and a majority holding in power infrastructure company Sabre Industries to TPG (TPG.O), opens new tab helped push its haul from monetizing assets to $31.8 billion.
Market volatility had hampered some deals in the first quarter, but Blackstone picked up the pace in the second.
It also benefited from the listings of advertising technology company Liftoff Mobile (LFTO.O), opens new tab, a data center investment vehicle called Blackstone Digital Infrastructure Trust (BXDC.N), opens new tab and Indian office REIT Bagmane (BAGM.NS), opens new tab.
Blackstone is betting heavily on the growth of AI and is joining peer Apollo (APO.N), opens new tab in a $35 billion financing for custom chips to be used by Claude Code creator Anthropic.
Nine of its top 10 best-appreciating investments are linked to AI, Blackstone said. These include a stake in Anthropic and its data center businesses. Blackstone took data center platform QTS private for $10 billion in 2021.
CEO Stephen Schwarzman said the firm had decided to "lean into the artificial intelligence megatrend". He said the company becoming "a trusted partner at scale to many of the key innovators" had positioned it well for the future.
Worries that AI will disrupt software businesses have weighed in recent months on private equity and credit firms that both invested in and lent to those companies in droves. This has contributed to scrutiny on how they value assets.
Amid the upset, wealthy individuals, whose assets represent almost a quarter of the total Blackstone manages, have sought to withdraw money from private credit funds in particular.
The retail flagship Blackstone Private Credit Fund BCRED raised $1 billion in the quarter, down from $1.9 billion in the previous quarter and $3.7 billion in the same period of 2025.
Net returns from private credit improved to 0.4% from flat in the first quarter, but remained below 2.2% from a year ago.
Blackstone Private Equity Strategies and infrastructure fund BXINFRA, which are also offered to wealthy individuals, raised $2.4 billion and $861 million, respectively. Real estate investment trust BREIT, which started exercising a right to block investor redemptions in 2022, pulled in $1.2 billion.
Reporting by Isla Binnie in New York and Arasu Kannagi Basil in Bengaluru; Editing by Arun Koyyur
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Isla Binnie reports on how company directors and executives manage stakeholder and shareholder interests, with a focus on compensation, corporate crises, dealmaking and succession. She also covers how politics, regulation, environmental issues and the broader economy affect boardroom discussions. Isla previously covered business, politics and general news in Spain and Italy. She trained with Reuters in London and covered emerging markets debt for the International Financing Review (IFR).
Wellington, Vanguard a Blackstone spustily dva nové fondy, které mají investorům zjednodušit přístup ke kombinaci veřejných a soukromých trhů. První z nich bude dostupný klientům Merrill a Bank of America Private Bank.
BOSTON & VALLEY FORGE, Pa. & NEW YORK--(BUSINESS WIRE)--Wellington Management (“Wellington”), Vanguard, and Blackstone (NYSE: BX) today announced the launch of two new investment solutions created as part of their recently formed strategic alliance and designed to give eligible investors simplified access to professionally managed portfolios that combine public and private markets.
WVB All Markets Fund, a multi-asset solution for investors who want to simplify the integration of public and private markets. The fund will integrate Wellington’s expertise in active public equities, Vanguard’s strengths in active fixed income and index strategies, with exposure to Blackstone’s leading perpetual private markets platform. The fund will trade under the tickers WVBIX, WVBAX, and WVBMX. WVB Blackstone All Privates Fund, a professionally managed solution providing a simple access point to Blackstone’s leading perpetual private markets platform, including private equity, private infrastructure, private real estate, and private credit in a single allocation. The new closed-end funds will be available at launch to Merrill and Bank of America Private Bank clients, providing advisors on one of the industry’s leading wealth management platforms with access to the first solutions from the strategic alliance. The alliance also anticipates broad participation and adoption from the RIA community, and will explore additional distribution opportunities across the wealth ecosystem over time.
The solutions aim to help advisors build more diversified portfolios for high-net-worth and mass-affluent clients in a simplified investment framework. The funds are intended to help advisors construct long-term portfolios that seek strong performance, long-term growth, and broad portfolio diversification.
A Powerful Alliance of Investment Leaders
The WVB All Markets Fund and WVB Blackstone All Privates Fund bring together:
Wellington’s nearly 100-year heritage of active management, fundamental research, and multi-asset allocation expertise; Vanguard’s 50-year legacy of delivering high-performing active strategies and index funds1 with a relentless focus on cost efficiency and investor outcomes; and Blackstone’s 40-year track record of cycle-tested performance and leadership position as the world’s largest alternative asset manager and number one provider of private markets solutions for individuals. Together, the firms are uniquely positioned to deliver integrated investment solutions that were historically available primarily to large institutions. To expand access to their collective strengths, Wellington, Vanguard, and Blackstone are actively exploring additional product structures to support retirement savers, financial advisors, and individual investors.
Mark Sutterlin, Head of Alternative Investments, Merrill and Bank of America Private Bank, said:
“Our clients are increasingly seeking broader access to private markets and for thoughtful ways to implement these strategies over time. Our scale and integrated platforms are expanding access to differentiated investment opportunities that can support more resilient long-term portfolios.”
Jean M. Hynes, CEO and Managing Partner, Wellington Management, said:
“The launch of the WVB All Markets and WVB Blackstone All Privates Funds reflects the strength of our strategic alliance with Vanguard and Blackstone. By combining our deep active management and asset allocation capabilities with Vanguard’s scale and expertise in fixed income and indexing and Blackstone’s leadership in private markets, we are delivering thoughtfully constructed solutions designed to meet investors’ evolving needs. We are particularly pleased to introduce these funds initially through the powerful Merrill and Bank of America Private Bank platforms.”
Greg Davis, President and CIO of Vanguard, said:
“For five decades, Vanguard has worked to improve investor outcomes through disciplined active management, low-cost index strategies, and a client-focused approach. Through this collaboration with Wellington and Blackstone, we are extending that mission into integrated public and private market solutions. Launching these funds with Bank of America Private Bank and Merrill is an important first step in expanding access to those solutions.”
Jon Gray, President and COO of Blackstone, said:
“Blackstone has delivered performance in private markets for individuals for more than two decades, helping them access the premium returns, lower volatility, and diversification that private markets can provide. These new solutions bring together the performance and scale of Blackstone’s private markets platform with the exceptional strengths of Wellington and Vanguard, creating simple and comprehensive access for advisors and their clients to help build long-term wealth.”
1 For the 10-year period ending June 30, 2026, 77% of Vanguard funds outperformed the average return of their peer group, or 260 of 336 Vanguard funds. Results will vary for other time periods. Only funds with a minimum ten-year history were included in the comparison. Source: LSEG Lipper. Note that the competitive performance data shown represent past performance, which is not a guarantee of future results, and that all investments are subject to risks. For the most recent performance, visit our website at www.vanguard.com/performance.
Wellington is the investment manager of the funds. Blackstone and Vanguard are not sponsors, promoters, investment advisers, sub-advisers, underwriters, or affiliates of the funds.
Investors should consider the investment objectives, risks, charges, and expenses carefully before investing in a Wellington fund. A prospectus containing this and other information about the Funds may be obtained by calling 888-287-3403 or by visiting http://www.wvbfunds.com/. Investors should read the prospectus carefully before investing.
Distributed by Foreside Fund Services, LLC. For US investors only.
About Wellington Management
Wellington Management is one of the world’s largest independent investment management firms, serving as a trusted adviser to over 2,500 clients in more than 60 countries. The firm manages more than US$1.35 trillion, as of April 30, 2026, for pensions, endowments and foundations, insurers, family offices, fund sponsors, global wealth managers, and other clients. Wellington aspires to provide excellent service to clients through a unique combination of independence enabled by its distinctive private partnership model, diverse perspectives through its unified, multi-asset investment platform, and relentless curiosity and intellectual rigor fostered by its enduring collaborative culture. For more information, visit wellington.com.
About Vanguard
Founded in 1975, Vanguard is one of the world's leading investment management companies. The firm offers investments, advice, and retirement services to tens of millions of individual investors around the globe—directly, through workplace plans, and through financial intermediaries. Vanguard operates under a unique, investor-owned structure and adheres to a simple purpose: to give investors the best chance for investment success. For more information, visit vanguard.com.
About Blackstone
Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s over $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com.
Important disclosures
Wellington Management, Vanguard and Blackstone are not affiliated. The firms maintain a strategic alliance to deliver public-private investment solutions to investors. Statements in support of each party are made in this capacity and not as a current client or investor. While there is no direct compensation provided for these statements, each party has a conflict of interest in making statements in support of the other parties as a result of the firms’ alliance, including expense sharing thereunder.
All investing is subject to risk, including possible loss of the money you invest. Diversification does not ensure a profit or protect against a loss. Private investments involve a high degree of risk and, therefore, should be undertaken only by prospective investors capable of evaluating and bearing the risks such an investment represents. Investors in private investments generally must meet certain minimum financial qualifications that may make it unsuitable for specific market participants.
An investment in the Funds involve a high degree of risk and other considerations and, therefore, should be undertaken only by investors capable of evaluating the risks of the Funds and bearing the risks they represent. Prospective investors should carefully consider the following factors, in addition to the matters set forth elsewhere in the prospectus, prior to investing in the Funds. Below is a summary of some of the risks of investing in the Funds. For a more complete discussion of the risks of investing in each Fund, see “Types of Investments and Related Risks.” in each Fund’s prospectus. Investors should consider carefully the following risks and those risks set forth in the “Types of Investments and Related Risks” section before investing in the Funds.
There is not expected to be any secondary trading market in either Fund’s Shares. Thus, an investment in the Funds may not be suitable for investors who may need the money they invest within a specified timeframe.
Unlike many closed-end funds, the Shares are not listed on any securities exchange. Liquidity for the Shares is expected to be provided only through quarterly tender or repurchase offers, as applicable, of the Shares at net asset value (“NAV”) per share. There is no guarantee that repurchases will occur or that an investor will be able to sell all the Shares that the investor desires to sell in a tender or repurchase offer, as applicable, nor will the Shares be exchangeable for shares of any other fund. Due to these restrictions, an investor should consider the Funds to offer limited liquidity. Investing in the Shares may be speculative and involves a high degree of risk, including the risks associated with leverage. Underlying Exposure to private markets, passively managed equities and public fixed income assets shall be obtained through allocations of the Funds’ assets by the Adviser to investment vehicles (each, an “Underlying Fund”) managed by affiliates of Blackstone Inc. (together with its affiliates, “Blackstone”) or by The Vanguard Group, Inc. or its affiliates (together with its affiliates, “Vanguard”), as applicable. Interests in certain Underlying Funds are illiquid and may only be redeemed during periodic repurchase offers pursuant to which such Underlying Funds repurchase limited amounts of their outstanding shares at the Underlying Fund’s discretion. An Underlying Fund may accept less than the amount of Underlying Fund shares that the Fund tenders in a repurchase offer. There is no regular market for interests in such Underlying Funds, which typically must be sold in privately negotiated transactions. Any such sales would likely require the consent of the Underlying Fund’s manager and could occur at a discount to the stated NAV. If the Advisor determines to cause the Fund to sell its interest in an Underlying Fund, the Fund may be unable to sell such interest quickly, if at all, and could therefore be obligated to continue to hold such interest for an extended period of time, or to accept a lower price for a more expeditious sale. This document may contain certain statements deemed to be forward-looking statements. All statements, other than historical facts, contained within this document that address activities, events or developments that Wellington Management expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions and analyses made by Wellington Management in light of its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances, many of which are detailed herein. Such statements are subject to a number of assumptions, risks, uncertainties, many of which are beyond Wellington Management's control. Please note that any such statements are not guarantees of any future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.
Key Takeaways Blackstone's Q2 revenues are estimated at $3.34 billion, up 8.7% year over year.BX's total AUM is projected to rise 10.2% to $1.34 trillion, supported by higher inflows.Blackstone estimated realization revenues topped $500 million from April 1 through June 23. Blackstone (BX - Free Report) is scheduled to announce second-quarter 2026 results on July 23, before the opening bell. As the world’s leading alternative asset manager, the company's results are likely to be closely watched for insights into how it and its peers deployed capital amid macroeconomic volatility.
In the first quarter, BX delivered a decent performance, with assets under management (AUM) and revenue growth despite private credit concerns. This time, the company is expected to have recorded a similar performance. The Zacks Consensus Estimate for revenues is pegged at $3.34 billion, which implies an 8.7% year-over-year improvement.
In the past seven days, the consensus estimate for the company’s earnings has been revised 1.5% lower to $1.31. This indicates 8.3% growth.
Estimate Revision Trend
Image Source: Zacks Investment Research
BX has an impressive earnings surprise history. The company’s earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, with the average beat being 12.63%.
Earnings Surprise History
Image Source: Zacks Investment Research
Major Factors to Impact BX’s Q2 EarningsBlackstone has been recording an increase in fee-earning AUM and total AUM on the back of its diversified product and revenue mix, superior position in the alternative investments space and net inflows. Given the high market volatility and increased client activity in the second quarter, the company is expected to have witnessed a rise in the AUM balance as inflows grew. The Zacks Consensus Estimate for total AUM of $1.34 trillion indicates growth of 10.2% from the prior-year quarter. The consensus estimate for total fee-earning AUM of $962.3 billion suggests a rise of 8.5%.
The Zacks Consensus Estimate for total management and advisory fees (segment revenues) is pegged at $2.12 billion, which indicates a 5.2% increase. The consensus estimate for fee-related performance revenues (segment revenues) of $514.7 suggests a jump 9% because of robust market performance during the second quarter.
Additionally, Blackstone expects profits from deal exits to have been solid in the to-be-reported quarter. Per the company’s preliminary estimate, revenues from realization activities were more than $500 million between April 1 and June 23, 2026.
The consensus estimate for realized performance revenues and realized principal investment income is pegged at $705.7 million and $40.1 million, respectively. In the second quarter of 2025, Blackstone generated $553.1 million of realized performance revenues and $29.4 million of principal investment income.
Blackstone’s expenses have been increasing over the past few years, mainly because of higher general, administrative and other expenses. As the company has continued to invest in franchises, expenses are expected to have risen to some extent in the second quarter.
What Our Model Unveils for BlackstonePer our proven model, the chances of Blackstone beating the Zacks Consensus Estimate for earnings this time are high. This is because it has the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), which is required to be confident of an earnings beat.
BX has an Earnings ESP of +0.16%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Blackstone carries a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
BX’s Price PerformanceBlackstone shares have gained 2.3% in the second quarter compared with the industry’s rally of 4%. The stock has underperformed Apollo Global (APO - Free Report) , but outpaced KKR & Co. (KKR - Free Report) .
2Q26 BX Price Performance
Image Source: Zacks Investment Research
Apollo Global is slated to report quarterly results on Aug. 4, before the opening bell, while KKR & Co. is scheduled to report results on July 30.
Over the past seven days, the Zacks Consensus Estimate for Apollo Global’s second-quarter 2026 earnings has been unchanged at $2.21. The consensus estimate for KKR & Co.’s second-quarter 2026 earnings has been revised upward to $1.43 over the past week. At present, both APO and KKR also carry a Zacks Rank #3.
Blackstone má podle analytiků ve 2. čtvrtletí vykázat zisk 1,31 USD na akcii a výnosy 3,34 miliardy USD, oba údaje meziročně o 8,3 % a 8,7 % vyšší. Konsenzus EPS byl za posledních 30 dní snížen o 2,4 %.
In its upcoming report, Blackstone Inc. (BX - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $1.31 per share, reflecting an increase of 8.3% compared to the same period last year. Revenues are forecasted to be $3.34 billion, representing a year-over-year increase of 8.7%.
The consensus EPS estimate for the quarter has been revised 2.4% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
That said, let's delve into the average estimates of some Blackstone Inc. metrics that Wall Street analysts commonly model and monitor.
Analysts expect 'Segment Revenues- Realized Principal Investment Income' to come in at $40.06 million. The estimate points to a change of +36.1% from the year-ago quarter.
The consensus among analysts is that 'Segment Revenues- Credit & Insurance- Total Management Fees, Net' will reach $516.85 million. The estimate indicates a change of +9.8% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Segment Revenues- Private Equity- Base Management Fees' of $684.68 million. The estimate indicates a year-over-year change of +13.2%.
Analysts forecast 'Segment Revenues- Multi-Asset Investing- Total Management Fees, Net' to reach $152.81 million. The estimate suggests a change of +15.9% year over year.
Analysts predict that the 'Fee-Earning Assets Under Management Rollforward - Private Equity' will reach $267.57 billion. Compared to the current estimate, the company reported $232.16 billion in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Fee-Earning Assets Under Management Rollforward - Real Estate' will likely reach $278.73 billion. Compared to the present estimate, the company reported $285.83 billion in the same quarter last year.
Based on the collective assessment of analysts, 'Fee-Earning Assets Under Management Rollforward - Hedge Fund Solutions (Multi-Asset Investing)' should arrive at $92.81 billion. Compared to the current estimate, the company reported $80.20 billion in the same quarter of the previous year.
It is projected by analysts that the 'Fee-Earning Assets Under Management Rollforward - Credit & Insurance' will reach $323.59 billion. The estimate compares to the year-ago value of $288.93 billion.
Analysts' assessment points toward 'Fee-Earning Assets Under Management' reaching $962.31 billion. Compared to the present estimate, the company reported $887.11 billion in the same quarter last year.
The consensus estimate for 'Total Assets Under Management - Hedge Fund Solutions (Multi-Asset Investing)' stands at $103.36 billion. The estimate compares to the year-ago value of $90.01 billion.
According to the collective judgment of analysts, 'Total Assets Under Management - Credit & Insurance' should come in at $469.39 billion. Compared to the present estimate, the company reported $407.30 billion in the same quarter last year.
The average prediction of analysts places 'Total Assets Under Management - Real Estate' at $318.42 billion. The estimate is in contrast to the year-ago figure of $324.99 billion.
View all Key Company Metrics for Blackstone Inc. here>>>
Over the past month, shares of Blackstone Inc. have returned +2.5% versus the Zacks S&P 500 composite's +0.6% change. Currently, BX carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Blackstone Inc. (BX - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 23. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis investment manager is expected to post quarterly earnings of $1.32 per share in its upcoming report, which represents a year-over-year change of +9.1%.
Revenues are expected to be $3.36 billion, up 9.4% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.02% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Blackstone Inc.?For Blackstone Inc., the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.11%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination indicates that Blackstone Inc. will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Blackstone Inc. would post earnings of $1.35 per share when it actually produced earnings of $1.36, delivering a surprise of +0.74%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Blackstone Inc. appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Expected Results of an Industry PlayerAmong the stocks in the Zacks Financial - Miscellaneous Services industry, Blackstone Inc. (BX - Free Report) , is soon expected to post earnings of $1.32 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of +9.1%. This quarter's revenue is expected to be $3.36 billion, up 9.4% from the year-ago quarter.
The consensus EPS estimate for Blackstone Inc. has remained unchanged over the last 30 days. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +0.11%.
When combined with a Zacks Rank of #3 (Hold), this Earnings ESP indicates that Blackstone Inc. will most likely beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Williams získá od skupiny vedené Blackstone investici 5,34 miliardy USD za 49% nekontrolní podíl v pěti projektech výroby elektřiny za měřičem. Součástí jsou i Apollo a vozidla a účty spravované KKR.
A logo of Blackstone is pictured in Manhattan, New York City, U.S. July 29, 2025. REUTERS/Mike Segar/File Photo Purchase Licensing Rights, opens new tab
CompaniesJuly 13 (Reuters) - U.S. pipeline operator Williams (WMB.N), opens new tab said on Monday a consortium led by Blackstone (BX.N), opens new tab will invest $5.34 billion for a 49% noncontrolling stake in five of its behind-the-meter power generation projects.
The consortium, which also includes Apollo and insurance vehicles and accounts managed by KKR (KKR.N), opens new tab, will provide $4.4 billion representing 49% of expected growth capital expenditures for the projects, along with about $900 million of additional consideration to Williams.
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The transaction covers the company's Socrates, Apollo, Aquila, Socrates the Younger and Neo projects, part of a broader pipeline of more than 6 gigawatts of power projects that Williams is developing.
Reporting by Sumit Saha in Bengaluru; Editing by Maju Samuel
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Blackstone, CVC Capital Partners a MUFG patří mezi zájemce o podíl ve vietnamském fintechu MoMo. Závazné nabídky mají přijít v září a proces může vést až k prodeji 50% podílu.
A logo of Blackstone is pictured in Manhattan, New York City, U.S. July 29, 2025. REUTERS/Mike Segar/File Photo Purchase Licensing Rights, opens new tab
SummaryCompaniesBinding bids due in September, sources sayStake size not finalised, but could be 50%, one source saysProcess ongoing, may not result in a dealHANOI/SINGAPORE, July 3 (Reuters) - Blackstone, CVC Capital Partners and Japan's MUFG are among bidders for a stake in Vietnamese fintech firm MoMo as it presses ahead with a partial sale, two people with direct knowledge of the matter said.
Binding bids are due in September, added the people, who declined to be named as the matter is private.
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The stake size has not been finalised, one of the people said, adding that the process could lead to the sale of a significant holding. A third person with knowledge of the matter said the stake on offer could be as much as 50%.
MoMo, CVC and MUFG did not immediately respond to requests for comment, while Blackstone had no comment.
COMPANY COULD BE VALUED AT MORE THAN $2 BILLIONFounded in 2010, MoMo has grown from a mobile payments platform into a financial services app spanning payments, consumer lending, insurance, savings, investment and merchant tools in Vietnam's fast-growing economy.
Reuters reported in April that MoMo was exploring strategic options, including bringing in new investors, that could value the company at more than $2 billion.
The digital payments company, which has been profitable since 2024, engaged with advisors to run the process after receiving interest from strategic and financial investors.
The process remains ongoing and may not result in a deal, the people said.
MoMo said it currently serves more than 30 million users and has built a broad nationwide network for digital transactions.
The investor interest comes as Vietnam's digital financial services market expands, helped by the growth of cashless payments and wider use of online financial products and services.
MoMo completed its last major fundraising round in 2021, when it said it had raised $200 million from investors led by Mizuho Bank.
The company said last year it was expanding services for consumers and small businesses as part of a broader digital finance push.
Reporting by Phuong Nguyen in Hanoi and Yantoultra Ngui in Singapore; Editing by Jan Harvey
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Yantoultra Ngui is the Southeast Asia Deals Correspondent of Reuters in Singapore, covering M&A and capital market activities in a region that is fast emerging as one of the world’s biggest economies. He previously was a reporter at Bloomberg and The Wall Street Journal (WSJ). Notably, he was part of WSJ's team that covered the financial scandal at Malaysian state fund 1MDB, and that won SOPA Excellence in Breaking News award for the coverage of the assassination of Kim Jong Nam, the half-brother of North Korea's leader Kim Jong Un, in Malaysia in 2018. Yantoultra graduated with an MBA in Finance from Universiti Putra Malaysia (UPM) in 2010.
Digital Realty koupí od fondů spravovaných Blackstone většinový podíl ve třech plně pronajatých datových centrech v Severní Virginii za ocenění 7,8 miliardy USD. Zaplatí 3,5 miliardy USD, z toho 1,2 miliardy v hotovosti a 2,3 miliardy v akciích.
File Photo: A car drives past a building of the Digital Realty Data Center in Ashburn, Virginia, U.S., March 17, 2025. REUTERS/Leah Millis/File Photo Purchase Licensing Rights, opens new tab
CompaniesJune 29 (Reuters) - Digital Realty (DLR.N), opens new tab said on Monday it would acquire a majority stake in three fully leased Northern Virginia data centers from Blackstone-managed funds (BX.N), opens new tab in a deal valuing the assets at $7.8 billion.
The acquisition strengthens Digital Realty's position in Northern Virginia, the world's largest data center market, where demand for capacity has surged as cloud computing and AI drive higher infrastructure needs.
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Under the deal, which is expected to close on June 30, Digital Realty will pay Blackstone-affiliated funds $3.5 billion for their blended 64% equity interest.
The consideration includes $1.2 billion in cash and $2.3 billion in Digital Realty shares, based on the company's last reported share price on June 29.
Reporting by Jaspreet Singh in Bengaluru; Editing by Vijay Kishore and Maju Samuel
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Blackstone plánuje v příštích třech až pěti letech investovat 30 miliard USD do japonských AI datových center. Jedná také o projektech s kapacitou přes 1 gigawatt.
A logo of Blackstone is pictured in Manhattan, New York City, U.S. July 29, 2025. REUTERS/Mike Segar//File Photo Purchase Licensing Rights, opens new tab
June 23 (Reuters) - Blackstone (BX.N), opens new tab is planning to invest $30 billion in Japan's AI data centers over the next three to five years, its president and chief operating officer Jonathan Gray told Nikkei in a recent interview, the business daily reported on Tuesday.
The world's largest alternative asset manager is in discussions to develop facilities exceeding 1 gigawatt in the country, the report said, citing Gray.
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Blackstone did not immediately respond to a Reuters request for comment. It also plans to accelerate its private equity investments in Japan, the company said.
Earlier this month, Blackstone had raised $13.1 billion for its Asia private equity fund, exceeding its initial target and marking its largest such fundraise in the region.
Reporting by Jasmeen Ara Shaikh in Bengaluru; Editing by Vijay Kishore
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Medallia uzavřela dohodu o rekapitalizaci, která výrazně sníží dluh a přinese 150 milionů USD nového kapitálu na podporu závazku investovat přes 500 milionů USD do inovací, včetně transformace v oblasti AI, v příštích letech. Po dokončení transakce přejde vlastnictví od Thoma Bravo ke skupině vedené Blackstone, Apollo a FS KKR Capital Corp (FSK).
Significantly strengthens the company’s balance sheet and provides $150 million of new capital to advance Medallia’s $500 million commitment to innovation, including AI transformation, in the coming years
TYSONS, Va.--(BUSINESS WIRE)--Medallia, the global leader in customer and employee experience, today announced that it has entered into a recapitalization agreement with its lenders that will strengthen its financial foundation for long-term growth. The transaction will significantly reduce Medallia’s outstanding debt and provide $150 million of new capital, positioning the company to accelerate AI-driven innovation and customer-focused product investment. Upon completion of the transaction, Medallia will change ownership from Thoma Bravo to an investor group led by Blackstone, Apollo, and FS KKR Capital Corp (FSK).
Medallia has been at the center of enterprise experience management since its founding in 2001 – going public on the New York Stock Exchange in 2019 before being taken private in 2021. Eighteen months ago, a new executive team joined to reinvent the business for an AI-first market, modernizing operations, and sharpening strategic focus while maintaining strong profitability. Today's transaction advances Medallia's existing $500 million commitment to innovation over the next few years and provides the capital to accelerate it, moving the company beyond traditional experience management into a more intelligent, predictive, and automated platform.
“Today's announcement marks a significant milestone towards the next generation of AI-led enterprise experience management,” said Mark Bishof, CEO of Medallia. “The transformation of Medallia has been well underway – what changes today is the pace. With a strengthened balance sheet and $150 million in new capital, we are accelerating our commitment to invest over $500 million in products and services for our customers over the next few years.”
The committed support of Medallia’s new owners reflects strong conviction in the company’s leadership team, platform strategy, and long-term market opportunity. In addition to new capital, Medallia will benefit from the firms’ collective expertise in scaling businesses globally, strategic relationships, and global resources to enhance Medallia’s platform capabilities and market leadership.
“Medallia is a profitable business with a strong track record serving many of the largest companies in the world,” said Brad Marshall, Global Head of Private Credit Strategies at Blackstone. “We’re confident in the business under this new capital structure and look forward to supporting its plans to invest in this next phase of innovation and growth.”
Medallia plans to expand its generative AI and automation capabilities across its platform, enabling organizations to more quickly identify emerging patterns, predict business impact, and orchestrate intelligent actions at enterprise scale. Building on its Frontline-Ready AITM foundation, Medallia also plans to further evolve its platform with deeper integrations across contact center, CRM, workflow, and emerging agentic AI ecosystems. Leading organizations including Mayo Clinic Laboratories, Mazda North America, and Santander Bank are among the customers who recently shared how Medallia powers their experience management programs. The company's planned platform enhancements will empower enterprises to respond to their customer and employee needs with greater speed, precision, and operational impact.
The company expects to close the transaction prior to the end of the year, subject to customary closing conditions and regulatory approvals. As Medallia works with its financial partners to close the transaction, operations remain uninterrupted, with no anticipated impact or disruption to the company’s customers, employees, or partners.
About Medallia
Medallia is the global leader in customer and employee experience, trusted by the world’s most iconic brands — including 7 of the Fortune 10. Medallia’s AI-driven platform helps enterprise organizations turn billions of feedback signals into clear, prioritized actions. With deep domain expertise, a powerful partner ecosystem, and consistent leadership recognition from top industry analysts, Medallia transforms customer experience into a strategic driver of business growth. Learn more at www.medallia.com.
