Blackstone BX Business Segments
| FY'25 | FY'24 | FY'23 | FY'22 | ||
|---|---|---|---|---|---|
| Realized Income Net by Business | |||||
| Credit And Insurance | $561.11M+151% | $223.13M+12.2% | $198.92M+21.9% | $163.2M-12.1% | |
| Multi Assets Investing | $402.81M+44.2% | $279.38M+143% | $114.78M+3.4% | $110.96M— | |
| Private Equity | $1.03B+27.2% | $811.31M-2.7% | $833.63M+4.1% | $800.87M-49.4% | |
| Real Estate | $149.1M+30.2% | $114.49M-11.0% | $128.69M-93.5% | $1.97B+125% | |
| Performance Revenue Realized by Business | |||||
| Credit And Insurance | $386.73M+23.5% | $313.09M-1.4% | $317.62M+116% | $147.29M-29.7% | |
| Multi Assets Investing | $489.92M+28.8% | $380.52M+142% | $156.94M+28.9% | $121.75M— | |
| Private Equity | $1.67B+19.9% | $1.39B+3.7% | $1.34B+11.2% | $1.21B-46.7% | |
| Real Estate | $268.77M+33.7% | $200.97M-17.8% | $244.36M-91.8% | $2.99B+167% | |
| Segment Distributable Earnings by Business | |||||
| Credit And Insurance | $1.96B+37.4% | $1.43B+23.3% | $1.16B+18.0% | $979.51M+81.1% | |
| Multi Assets Investing | $655.88M+29.1% | $507.94M+54.9% | $327.91M-7.5% | $354.55M— | |
| Private Equity | $2.91B+10.2% | $2.64B+40.6% | $1.88B+3.7% | $1.81B-28.5% | |
| Real Estate | $2.36B+10.4% | $2.14B-5.6% | $2.27B-47.5% | $4.31B+33.7% | |
| Transaction Advisory And Other Fees Net by Business | |||||
| Credit And Insurance | $74.12M+67.1% | $44.35M-0.4% | $44.55M+29.2% | $34.48M-23.2% | |
| Multi Assets Investing | $4.49M+16.4% | $3.86M-20.2% | $4.83M-22.6% | $6.24M— | |
| Private Equity | $362.53M+105% | $176.47M+63.3% | $108.04M+10.3% | $97.97M-44.0% | |
| Real Estate | $141.7M-19.0% | $175.01M+123% | $78.48M-54.2% | $171.42M+6.9% | |
| Segment Assets by Business | |||||
| Credit And Insurance | $35.09B+9.1% | $32.16B+21.1% | $26.55B+1.9% | $26.07B+115% | |
| Multi Assets Investing | $8.28B+2.4% | $8.08B— | —— | —— | |
| Private Equity | $73.96B+16.9% | $63.25B+12.8% | $56.05B-4.6% | $58.74B+28.8% | |
| Real Estate | $48.58B-3.9% | $50.55B-6.5% | $54.08B-9.0% | $59.42B+57.0% | |
| Fee Related Earnings by Business | |||||
| Credit And Insurance | $1.4B+16.3% | $1.2B+25.7% | $956.44M+17.2% | $816.3M+130% | |
| Multi Assets Investing | $253.07M+10.7% | $228.56M+7.2% | $213.13M-12.5% | $243.59M— | |
| Private Equity | $1.88B+2.6% | $1.83B+75.3% | $1.04B+3.4% | $1.01B+6.4% | |
| Real Estate | $2.21B+9.3% | $2.02B-5.3% | $2.14B-8.8% | $2.34B-0.3% | |
| Fee Related Performance Revenues by Business | |||||
| Credit And Insurance | $787.8M+5.4% | $747.09M+32.4% | $564.29M+50.6% | $374.72M+217% | |
| Multi Assets Investing | $0— | $0— | $0— | $0— | |
| Private Equity | $547.99M-53.8% | $1.19B— | $0+100% | -$648K-100% | |
| Real Estate | $489.65M+141% | $203.43M-30.9% | $294.24M-72.6% | $1.08B-36.6% | |
| Management And Advisory Fees Net by Business | |||||
| Credit And Insurance | $1.93B+22.0% | $1.58B+17.4% | $1.35B+11.0% | $1.21B+51.0% | |
| Multi Assets Investing | $532.92M+11.5% | $478.17M-2.3% | $489.41M-6.1% | $521.45M— | |
| Private Equity | $2.77B+26.1% | $2.2B+10.9% | $1.98B+3.1% | $1.92B+15.7% | |
| Real Estate | $2.78B-3.2% | $2.88B+1.1% | $2.84B+8.4% | $2.62B+27.8% | |
| Other Operating Expenses by Business | |||||
| Credit And Insurance | $450.4M+21.3% | $371.35M+14.5% | $324.45M+24.8% | $260.03M+30.1% | |
| Multi Assets Investing | $110.53M+5.2% | $105.11M-3.2% | $108.6M+10.0% | $98.7M— | |
| Private Equity | $482.31M+23.3% | $391.31M+19.9% | $326.23M+3.6% | $314.97M+19.1% | |
| Real Estate | $370M-2.7% | $380.32M+17.0% | $325.05M+3.1% | $315.33M+34.5% | |
| Realized Principal Investment Income Loss by Business | |||||
| Credit And Insurance | $335.87M+743% | $39.86M+82.9% | $21.8M-72.7% | $79.76M+12.7% | |
| Multi Assets Investing | $6.69M— | —— | $6.57M-68.9% | $21.12M— | |
| Private Equity | $66.5M+27.0% | $52.36M-30.1% | $74.94M-48.2% | $144.59M-45.1% | |
| Real Estate | $10.69M-31.8% | $15.67M+105% | $7.63M-94.9% | $150.79M-23.4% | |
| Fee Related Compensation by Business | |||||
| Credit And Insurance | $869.64M+15.1% | $755.62M+19.8% | $630.98M+23.1% | $512.73M+39.6% | |
| Multi Assets Investing | $169.33M+17.2% | $144.5M-13.8% | $167.68M-6.4% | $179.17M— | |
| Private Equity | $961.45M-17.4% | $1.16B+89.7% | $613.58M+2.3% | $599.76M-9.5% | |
| Real Estate | $690.29M+2.3% | $674.97M-0.1% | $675.88M-35.0% | $1.04B-10.5% | |
| Base Management Fees by Business | |||||
| Credit And Insurance | $1.91B+22.3% | $1.56B+19.5% | $1.31B+10.3% | $1.19B+54.8% | |
| Multi Assets Investing | $528.44M+11.4% | $474.4M-2.1% | $484.59M-6.0% | $515.37M— | |
| Private Equity | $2.46B+21.2% | $2.03B+7.9% | $1.88B-0.1% | $1.88B+23.7% | |
| Real Estate | $2.65B-2.3% | $2.72B-2.8% | $2.79B+13.5% | $2.46B+29.9% | |
| Realized Performance Compensation by Business | |||||
| Credit And Insurance | $161.49M+24.4% | $129.81M-7.6% | $140.49M+120% | $63.85M-32.4% | |
| Multi Assets Investing | $93.8M+7.9% | $86.93M+78.4% | $48.74M+52.8% | $31.9M— | |
| Private Equity | $704.94M+11.3% | $633.49M+8.6% | $583.49M+6.0% | $550.31M-41.7% | |
| Real Estate | $130.36M+29.1% | $101.01M-18.1% | $123.3M-89.4% | $1.17B+164% | |
| Investments by Business | |||||
| Credit And Insurance | $2.76B-7.9% | $3B+40.4% | $2.13B-3.5% | $2.21B+9.9% | |
| Multi Asset Investing | $669.66M-30.3% | $961.13M— | —— | —— | |
| Private Equity | $39.14B+19.1% | $32.87B+25.7% | $26.15B+0.8% | $25.93B-2.6% | |
| Real Estate | $6.93B-32.6% | $10.28B-34.8% | $15.78B-40.5% | $26.51B+13.9% | |
| Fund Distributions by Business | |||||
| Credit And Insurance | $356.09M+32.4% | $268.97M+8.1% | $248.77M+60.5% | $154.97M-22.7% | |
| Multi Asset Investing | $262.01M+57.7% | $166.2M— | —— | —— | |
| Private Equity | $3.08B+115% | $1.43B+32.2% | $1.08B-24.8% | $1.44B-35.1% | |
| Real Estate | $386.1M-25.6% | $518.81M-32.6% | $770.18M-84.8% | $5.08B+225% | |
| Performance Fees Allocated As Result Of Changes In Fund Fair Values by Business | |||||
| Credit And Insurance | -$194.83M+58.6% | -$471.04M-69.0% | -$278.66M— | —— | |
| Multi Asset Investing | -$302.37M— | —— | —— | —— | |
| Private Equity | -$4.01B-5.4% | -$3.8B-117% | -$1.75B— | —— | |
| Real Estate | -$156.87M-132% | $490.9M-69.5% | $1.61B— | —— | |
| Management Fee Offsets by Business | |||||
| Credit And Insurance | $53.67M+122% | $24.2M+519% | $3.91M-28.1% | $5.43M-18.4% | |
| Multi Assets Investing | $0-100% | $80K+2,567% | $3K-98.1% | $161K— | |
| Private Equity | $48.9M+709% | $6.04M+15.6% | $5.23M-90.7% | $56.08M+68.7% | |
| Real Estate | $13.07M-21.8% | $16.72M-43.1% | $29.36M+179% | $10.54M+201% | |
| Revenue by Product | |||||
| Investment Advice | $8.08B+12.3% | $7.19B+7.8% | $6.67B+5.8% | $6.3B+21.9% | |
| Investment Performance | $978.2M+1.5% | $964.18M+38.7% | $695.17M+32.4% | $525.13M+107% | |
| Percentage Of Revenue From External Customers by Geography | |||||
| Americas | 80%+4.0pp | 76%-2.0pp | 78%-5.0pp | 83%+12.0pp | |
| Asia Pacific | 7%-1.0pp | 8%+1.0pp | 7%+5.0pp | 2%-9.0pp | |
| EMEA | 13%-3.0pp | 16%+1.0pp | 15%0.0pp | 15%-3.0pp |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Blackstone break its business down?
- Blackstone (BX) reports realized income net by business across 4 parts — Credit And Insurance, Multi Assets Investing, Private Equity and Real Estate. Each is extracted from the segment footnotes and tracked over time.
- Where does Blackstone's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Blackstone's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
