Blackstone posts 61% Q2 profit surge on AI bets and new secondary fundraise

Blackstone reported a 60.9% year‑over‑year rise in net attributable profit for the second quarter of 2026, reaching $1.229 billion. Distributable earnings climbed 26% to $1.977 billion and assets under management grew 11% to $1.34 trillion, aided by $68.3 billion of inflows in the quarter. The firm credited its focus on the “megatrend of AI,” investing in data‑center, energy and power assets as well as stakes in companies such as Anthropic, OpenAI and SpaceX.

In parallel, Blackstone raised more than $14 billion for a new buyout‑secondaries flagship, targeting at least $22 billion in commitments and adding to nearly $40 billion of total commitments across its strategies. Fee‑related earnings rose 22% to $1.8 billion and net realizations increased 27% to $414 million. The firm’s credit segment ended the quarter with $84 billion of dry powder, supporting expectations of double‑digit fee growth in 2027.