Blackstone Inc (BX, Financial) released its third-quarter 2023 earnings report on October 19, 2023. Despite challenging market conditions, the company demonstrated a resilient performance, with nearly all flagship strategies outperforming public benchmarks.
Financial Highlights
Blackstone's CEO, Stephen A. Schwarzman, highlighted the company's strong sector selection and exceptional long-term track record. He noted,
Blackstone delivered resilient third-quarter results despite challenging markets. Our investors continue to benefit from our strong sector selection — nearly all of our flagship strategies outperformed public benchmarks."The company raised over $25 billion of capital during the quarter and is well-positioned with a record dry powder of $200 billion to deploy in a dislocated environment.
Dividend Announcement
Blackstone declared a quarterly dividend of $0.80 per share to record holders of common stock at the close of business on October 30, 2023. The dividend will be paid on November 6, 2023.
Assets Under Management
As the world’s largest alternative asset manager, Blackstone's assets under management exceed $1 trillion. The company's investment vehicles focus on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets, and secondary funds, all on a global basis.
Looking Ahead
Despite the challenging market conditions, Blackstone's resilient performance and strong sector selection position the company well for future growth. With a record dry powder of $200 billion, the company is well-equipped to capitalize on investment opportunities in the coming quarters.
