Blackstone Inc. (BX) reported a significant rise in its assets under management (AUM), reaching a record $1.27 trillion by the end of 2025, with compound annual growth rates (CAGR) of 15.6% for total AUM and 14.4% for fee-earning AUM over the last five years (2020-2025). This growth is attributed to strong capital inflows and strategic investments across various sectors.
However, concerns in the private credit market, such as weaker investor sentiment and rising redemption requests, may moderate near-term AUM growth. Despite these challenges, the long-term outlook for private credit remains strong, with projections indicating significant AUM growth as investors increasingly shift toward alternative assets. Blackstone’s earnings have experienced a CAGR of 3.5% over the last three to five years, with a projected long-term growth rate of 19.8%.
In comparison, Apollo Global Management (APO) and KKR & Co. Inc. (KKR) each reported impressive AUM growth rates of 19.6% and 24.2% for the respective five-year periods (2022-2025 and 2020-2025). Apollo acquired Bridge Investment Group, boosting its real estate AUM, while KKR announced a strategic acquisition of Arctos Partners valued at $1.4 billion, expanding its reach in sports franchises.
