Blackstone Inc.

Is Blackstone publicly traded?
Yes. Blackstone Inc. trades on the New York Stock Exchange under the ticker symbol BX. The company went public in June 2007 and is a component of the S&P 500.

Who founded Blackstone?
Blackstone was founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman, both of whom previously worked at Lehman Brothers. Peter Peterson passed away in 2018. Stephen Schwarzman serves as Chairman and CEO.

What is Blackstone's AUM?
Blackstone had total assets under management of $1.13 trillion at year-end 2024, up 8.5% year over year, with fee-earning AUM of $830.71 billion.

What is BREIT?
BREIT (Blackstone Real Estate Income Trust) is a non-traded real estate investment trust managed by Blackstone that invests primarily in stabilized, income-generating commercial real estate in the United States. It is one of the largest non-traded REITs globally.

What are Blackstone's main business segments?
Blackstone's main business segments are Real Estate (including BREIT), Private Equity, Credit & Insurance, and Hedge Fund Solutions. The company also has a growing tactical opportunities business that makes smaller investments across various asset classes.

Peter G. Peterson and Stephen A. Schwarzman founded Blackstone in 1985 as a mergers and acquisitions advisory firm. Both had previously worked at Lehman Brothers. The company launched its first private equity fund in 1987 and expanded into real estate investing in the early 1990s.

Blackstone completed its IPO on the New York Stock Exchange in June 2007, raising $4.75 billion in one of the largest alternative asset manager IPOs at the time. The IPO valued the company at approximately $31 billion.

Key milestones include the acquisition of GSO Capital Partners, a credit-oriented alternative asset manager, in 2008 for $620 million; the launch of BREIT (Blackstone Real Estate Income Trust) in 2017, which grew to become one of the largest non-traded REITs globally; and the acquisition of GLP's U.S. warehouse portfolio in 2019 for $18.7 billion, one of the largest private real estate transactions in history.

Blackstone's AUM grew from approximately $100 billion at the time of its IPO to $1.13 trillion by year-end 2024. For Q4 2024, fee-related earnings reached a record $1.8 billion, up 76% year over year, reflecting strong growth in management fees as AUM expanded.

Blackstone has integrated environmental, social, and governance (ESG) considerations into its investment processes and corporate operations, recognizing that sustainability factors can impact long-term investment performance. The company has developed comprehensive ESG frameworks for its various investment strategies and engages with portfolio companies on sustainability matters.

ESG Integration Across Investment Strategies

Blackstone incorporates ESG analysis into due diligence processes for private equity, real estate, and credit investments. The company has established specialized teams to evaluate climate risks, diversity and inclusion practices, and governance quality of potential and existing portfolio companies. Blackstone's ESG integration approach is tailored to different asset classes while maintaining consistent sustainability principles.

Climate Action and Decarbonization

Blackstone has committed to reducing greenhouse gas emissions across its portfolio and has set targets for portfolio decarbonization. The company works with portfolio companies to develop climate action plans, improve energy efficiency, and transition to renewable energy sources. Blackstone's real estate portfolio includes numerous green building certifications and energy efficiency improvements.

Responsible Investment and Stewardship

As a major institutional investor, Blackstone engages with portfolio companies on sustainability practices and governance matters. The company has established guidelines for responsible investing and participates in industry initiatives focused on ESG standards and reporting. Blackstone's stewardship activities include board engagement, executive compensation oversight, and environmental performance monitoring.

Operational Sustainability

Blackstone has implemented sustainability practices in its own operations, including office energy efficiency, waste reduction, and diversity and inclusion initiatives. The company publishes annual sustainability reports detailing ESG progress across its investment portfolio and corporate operations.

Blackstone has received extensive recognition for its investment performance, innovation in alternative asset management, and growing leadership in sustainable investing.

Investment Management Excellence

• Best Alternative Asset Manager: Multiple awards from Pensions & Investments, Private Equity International, and other industry publications recognizing Blackstone's leadership in alternative investments
• Private Equity Firm of the Year: Consistent recognition for private equity investment performance and operational improvements at portfolio companies
• Real Estate Investment Manager of the Year: Awards for Blackstone Real Estate's investment strategy and portfolio management

ESG and Sustainable Investing Recognition

• ESG Integration Awards: Recognition for Blackstone's approach to ESG integration in private markets investing
• Sustainable Investing Leadership: Awards for climate risk management and portfolio decarbonization efforts
• Responsible Investment Awards: Recognition for stewardship practices and engagement with portfolio companies

Corporate and Industry Leadership

• Most Innovative Companies: Recognition from Fast Company and other publications for business model innovation and technology adoption
• Best Places to Work: Multiple awards for workplace culture, professional development, and employee satisfaction
• Industry Leadership Awards: Recognition for Blackstone's role in developing the alternative asset management industry

Blackstone's large-scale purchases of single-family homes and apartment buildings through its real estate funds have attracted criticism from housing advocates and some politicians, who argue that institutional ownership of residential real estate drives up housing costs and reduces availability for individual buyers. Blackstone has disputed these characterizations, noting that its residential investments represent a small fraction of the overall housing market.

BREIT faced significant redemption requests in late 2022 and 2023 when Blackstone limited investor withdrawals after requests exceeded the fund's quarterly redemption limits. This raised questions about liquidity in non-traded real estate vehicles and attracted regulatory attention.