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Blackstone highlights record AUM as data centers and AI drive results
In the second quarter, distributable earnings rose 26% year over year to $2.0 billion, while Blackstone’s assets under management increased 11% to a record $1.35 trillion.
Blackstone reported record assets under management and strong earnings for the first half of 2026, citing growth tied to its data center and AI platform, Commercial Observer reports. In the second quarter, the firm delivered more than 20% year over year growth across total revenues, fee revenues, fee-related earnings, net realization, and distributable earnings, according to Michael Chae, Blackstone’s vice chairman and chief financial officer.
The firm said distributable earnings increased 26% year over year to $2 billion, with fee-related earnings up 22% to $1.7 billion, or $1.29 per share. Net realizations rose 27%, even as Blackstone cited geopolitical headwinds, while capital inflows reached $70 billion in the second quarter.
Blackstone CEO Stephen Schwarzman said the most significant driver of results was large-scale investment in AI-related areas, including data centers, energy and power, and frontier AI companies. He pointed to Blackstone’s position in the AI ecosystem, supported by its 2021 acquisition of QTS Data Centers and direct investments into firms including Anthropic, OpenAI, Google, and SpaceX.
The company also highlighted that in the second quarter it launched Blackstone Digital Infrastructure Trust, a REIT focused on acquiring stabilized and newly constructed data centers. Commercial Observer notes that the REIT’s $2 billion offering became the largest blind pool REIT IPO in history.