Blackstone's quarterly profit gets boost from asset pile, AI investment gains
BX•Asset sales and listings lift monetization haul
Deals to sell a stake in three data centers to Digital Realty and a majority holding in power infrastructure company Sabre Industries to TPG helped push its haul from monetizing assets to $31.8 billion.
Market volatility had hampered some deals in the first quarter, but Blackstone picked up the pace in the second.
It also benefited from the listings of advertising technology company Liftoff Mobile, a data center investment vehicle called Blackstone Digital Infrastructure Trust and Indian office REIT Bagmane.
Quarterly profit and assets under management rise
Blackstone, the world's largest alternative asset manager, reported rising income for the second quarter on Thursday, buoyed by growing assets under management and reaping profit from a mammoth bet on artificial intelligence.
