BX · 10-Q · 2026Q2 · Full report

Capital Markets Revenue Reclassification

Blackstone Inc. · 2026-08-07 · Importance 30 · Surprise 42

Beginning in the three months ended June 30, 2026, capital markets advisory revenues from certain financing transactions in infrastructure and asset based credit strategies were presented in Credit & Insurance rather than Private Equity. Credit & Insurance Transaction, Advisory and Other Fees increased $77.8 million year over year in the second quarter, primarily due to capital markets advisory revenues. For the six months ended June 30, 2026, the same fee category increased $72.9 million, primarily due to capital markets advisory revenues in infrastructure and asset based credit. Previously, all capital markets advisory revenues were included in Private Equity as part of the BXCM business.

Key facts

• Beginning in the three months ended June 30, 2026, capital markets advisory revenues generated in connection with certain financing transactions in infrastructure and asset based credit strategies are presented in the Credit & Insurance segment; previously all such capital markets advisory revenues were included in the Private Equity segment as part of the BXCM business. source