Blackstone (BX) hits $1 trillion in AUM

Blackstone (NYSE: BX) shares dipped in the early part of Thursday's session after it reported earnings in line with analyst consensus expectations.

The alternative investment management company reported Q2 EPS of $0.93, in-line with the analyst estimate of $0.93, but down 38% YoY. Revenue for the quarter came in at $2.81 billion versus the consensus estimate of $2.41 billion.

The firm's total AUM increased 46% to $1 trillion, with $30.1 billion of inflows in the quarter, bringing LTM inflows to $158.4 billion.

"Blackstone is the first alternative manager to surpass $1 trillion of assets under management," said Stephen Schwarzman, the firm's Chairman and Chief Executive Officer. "We believe we are in the early stages of the long-term growth of the alternatives industry, providing a vast opportunity for further expansion."

Despite the early slide, BX shares have reclaimed their earlier losses, now slightly up on the day at just above $108 per share.

By Sam Boughedda

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