Blackstone (NYSE: BX) reported a GAAP net income of $2.4 billion for Q2 2026, with distributable earnings reaching $2 billion, equating to $1.52 per share. The firm declared a dividend of $1.29 per share for holders of record as of August 3. Total inflows for the quarter approached $70 billion, pushing assets under management to a record $1.35 trillion, up 11% year-over-year.
Key growth drivers included Blackstone’s aggressive focus on artificial intelligence investments, which contributed to a 26% year-over-year rise in distributable earnings. The company partnered with Google for a new AI cloud provider and launched a $2 billion REIT targeting data centers. Blackstone’s infrastructure AUM increased to $90 billion, a 40% rise, while private wealth management AUM hit $324 billion, up 16% year-over-year.
Overall, Blackstone’s fee-related earnings grew 22% to $1.8 billion, with strong performance in private credit and real estate. The firm indicated a robust IPO market, highlighting a sixfold increase in U.S. IPO activity in H1 2026 compared to the previous year. Additionally, net realizations rose 27% year-over-year to $414 million, supported by significant asset disposals.
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