Blackstone beats profit estimate on record AUM, pickup in deal activity

Blackstone beats profit estimate on record AUM, pickup in deal activity

FILE PHOTO: Signage is seen at the Blackstone Group headquarters in New York City, U.S., January 18, 2023. REUTERS/Jeenah Moon/File Photo

Blackstone beat Wall Street’s expectations on its key quarterly earnings metric on Thursday, as the world’s largest alternative investment firm’s assets under management (AUM) hit a record $1.1 trillion and the value of its funds rose.