BX · 10-Q · 2026Q3 · Full report

Multi-Asset Segment Performance

Blackstone Inc. · 2026-11-06 · Importance 52 · Surprise 56

Multi-Asset Investing segment distributable earnings rose 31% to $103.9 million in the third quarter of 2026 and 36% to $281.8 million for the first nine months, compared with the respective 2025 periods. Third-quarter management and advisory fees increased 21% to $168.2 million, while nine-month fees increased 19% to $469.0 million, primarily because Absolute Return fee-earning AUM grew. Fee-related earnings increased 26% to $90.8 million for the quarter and 28% to $246.3 million for the nine months; fee-related compensation rose 23% and 12%, respectively. Net realizations increased 77% to $13.1 million in the quarter and 127% to $35.4 million for the nine months, driven primarily by realized performance revenues.

Key facts

• At September 30, 2026, Multi-Asset Investing AUM increased $5.3 billion to $113.9 billion from $108.6 billion at June 30, 2026, driven by $8.6 billion of inflows and $320.3 million of market appreciation, offset by $2.8 billion of outflows and $874.1 million of realizations. source
• The Absolute Return Composite had its twenty-sixth consecutive quarter of positive performance in the third quarter of 2026, driven primarily by quant and credit strategies. source