is the first fund to exceed one trillion assets under management – Corriere.it

Blackstone said its assets topped the threshold in the second quarter, up from $991.3 billion at the end of the first quarter and $940.8 billion a year earlier. Blackstone, the US private equity giant, has become the first company of its kind to exceed 1,000 billion dollars in assets under management. The New York company, which in 2018 had set the achievement of this goal by 2026, has succeeded with a low-risk strategy, focusing on insurance, infrastructure, credit and some investments in the real estate sector.

Blackstone said its assets topped the threshold in the second quarter, up from $991.3 billion at the end of the first quarter and $940.8 billion a year earlier. In the quarter, added $30.1 billion in assets. Net income increased to 601.3 million, or 79 cents per share, while a year ago it had recorded a loss of 29.4 million, or 4 cents per share. Blackstone had just $400,000 in assets when CEO Stephen Schwarzman and his cofounder Pete Peterson left Lehman Brothers to launch the firm in 1985.