Blackstone's First-Quarter Profits Soar Amid Market Turbulence

Blackstone reports an 11% profit increase in the first quarter, boosted by asset sales across private equity and credit sectors. Despite market uncertainty, the company maintains strong inflows, growing its assets under management. However, a decline in its real estate sector and market volatility pose challenges.

Blackstone, the world's largest alternative asset manager, posted an 11% increase in first-quarter profits, primarily driven by asset sales in its private equity and credit businesses. Distributable earnings rose to $1.41 billion, marking a notable improvement from the previous year's $1.27 billion.

Despite the uncertainty lingering in financial markets due to policy changes from President Donald Trump, Blackstone capitalized on select investment opportunities. CEO Stephen Schwarzman expressed confidence in navigating these challenging conditions, emphasizing the firm's strategic positioning.

While Blackstone's credit and private equity sectors thrived, its real estate portfolio faced declines due to elevated interest rates. As a result, Blackstone shares have seen a 25% dip. Nonetheless, the firm's ability to attract $61.64 billion in inflows signifies its steady foothold in the industry.

(With inputs from agencies.)