Blackstone Announces Intra-Quarter Realization Update Relating to the First Quarter (Form 8-K)

Blackstone Announces Intra-Quarter Realization Update Relating to the First Quarter

NEW YORK - March 25, 2025 - Blackstone today announced a preliminary estimate regarding revenue it expects to record related to realization activity for the period from January 1, 2025 to March 25, 2025. Based on information currently available, Blackstone preliminarily expects to record total Realized Performance Revenues and total Realized Principal Investment Income for this period in excess of $385 million, almost entirely comprised of Realized Performance Revenues. This estimate includes revenue related to investment realizations closed to date in the first quarter, as well as certain non-fee related incentive fees that are included in Realized Performance Revenues and other investment income expected to be realized at quarter end. This estimate excludes pending investment realizations currently expected to close before quarter end, notably the previously announced sale of Bistro.

The preliminary estimate regarding realization activity for the period from January 1, 2025 to March 25, 2025 disclosed above is not intended to predict or represent total Realized Performance Revenues, total Realized Principal Investment Income or total Segment Revenues for the quarter ending March 31, 2025, and results for the full quarter may differ materially. The preliminary estimate does not include the results or impact of any other sources of income, including fee income, or expenses, and Blackstone may realize further gains or losses relating to total Realized Performance Revenues and total Realized Principal Investment Income for the full quarter. This preliminary estimate is also not indicative of the results that may be expected for any other period, including the year ending December 31, 2025.

About Blackstone

Blackstone is the world's largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our more than $1.1 trillion in assets under management include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.