Blackstone publishes third-quarter 2026 earnings call transcript
BX•Blackstone reported third-quarter distributable earnings of $1.7 billion, or $1.32 per share, and fee-related earnings of $1.6 billion, up 6% year over year. BCRED had $1.4 billion in net outflows as repurchase requests reached 10% of net asset value.
1. Earnings and inflows
Blackstone’s October 22 third-quarter earnings call featured CEO Steve Schwarzman, President Jon Gray and CFO Michael Chae. Distributable earnings totaled $1.7 billion, or $1.32 per share, while fee-related earnings rose 6% year over year to $1.6 billion. Quarterly inflows reached $63 billion, bringing trailing 12-month inflows above $270 billion, the highest level in four years.
2. Outlook and BCRED
Management expects a significant increase in net realizations in the fourth quarter and for base management fee growth to return to double digits in 2027. BCRED recorded $1.4 billion in net outflows as repurchase requests reached 10% of net asset value, exceeding its 5% quarterly limit.
