Blackstone Inc

Robust Financial Performance: Blackstone reported a fourth-quarter GAAP net income of $1.3 billion and distributable earnings of $2.2 billion, reflecting a year-over-year increase of 56%. Fee-related earnings reached a record $1.8 billion, a growth of 76% year-over-year, driven by strong inflows and performance fees, especially from their dedicated infrastructure strategy, BIP, which contributed $1.2 billion in fee revenue.

Significant Capital Inflows: The firm experienced remarkable inflows of $57 billion in Q4, totaling $171 billion for the full year. Notably, they raised $28 billion in private wealth in 2024, marking nearly double the amount raised in individual strategies from the prior year, indicating strong demand in the institutional and private wealth channels.

Optimistic Outlook for 2025: Blackstone's management expressed confidence in continued growth, suggesting a favorable recovery in 2025, bolstered by a healthy U.S. economy, tightening borrowing spreads, and improved capital market conditions. They expect to see a significant increase in realizations in 2025, especially in private equity, with continued momentum in their credit and insurance business.