---
title: "BREAKINGVIEWS-Blackstone's next trick is to stick the landing"
description: "Blackstone reported $1.9 billion in earnings for Q3, a 48% year-over-year increase, surpassing analyst expectations by nearly 20%. The firm achieved a record $30.6 billion in asset sales, up 35% from "
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/262473369.md"
published_at: "2025-10-23T16:01:36.000Z"
---

# BREAKINGVIEWS-Blackstone's next trick is to stick the landing

> Blackstone reported $1.9 billion in earnings for Q3, a 48% year-over-year increase, surpassing analyst expectations by nearly 20%. The firm achieved a record $30.6 billion in asset sales, up 35% from the previous year. Earnings in private equity reached $871 million, doubling from 2024, while credit and insurance earnings rose 11% to $416 million. Despite these gains, concerns about defaults loom as the private equity sector navigates a challenging landscape post-Covid.

(The author is a Reuters Breakingviews columnist. The opinions expressed are his own.)

By Jonathan Guilford

NEW YORK, Oct 23 (Reuters Breakingviews) - A recent mega-LBO and a record $31 bln in asset sales make clear that private equity’s post-Covid funk is ending. Yet Steve Schwarzman’s empire, which relies on lending, is beset by default fears as returns narrow. With piles of money to be spent, the new normal isn’t easy.

Full view will be published shortly. Follow Jonathan Guilford on X and LinkedIn.

### CONTEXT NEWS

Private equity, credit and real estate-focused asset manager Blackstone said on October 23 that it generated roughly $1.9 billion in earnings available to be distributed to shareholders in the third quarter. The result represents year-over-year growth of 48%, and beat analysts’ expectations by nearly 20%, according to Visible Alpha data.

Realizations, which represent asset sales, rose to $30.6 billion firm-wide, a record high and up 35% from the same period in the prior year. Earnings in Blackstone’s private equity segment reached $871 million, roughly doubling from 2024. In its credit and insurance business, earnings of $416 million were up 11% year-over-year. (Editing by Aimee Donnellan; Production by Pranav Kiran)

### Related Stocks

- [BX.US - Blackstone](https://longbridge.com/en/quote/BX.US.md)

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| Blackstone boosts stake in AI startup Anthropic to about $1 billion, source says | Blackstone is increasing its investment in AI startup Anthropic to about $1 billion, valuing the company at roughly $350 | [Link](https://longbridge.com/en/news/275508758.md) |
| Blackstone is investing $200 million in Anthropic at a $350 billion valuation - source | Blackstone is investing $200 million in Anthropic at a $350 billion valuation - source | [Link](https://longbridge.com/en/news/275507389.md) |
| Blackstone raises stake in Anthropic via latest funding round - report | Blackstone raises stake in Anthropic via latest funding round - report | [Link](https://longbridge.com/en/news/275508209.md) |
| Blackstone folds hedge fund seeding into US$60 billion business | Blackstone is integrating its Strategic Alliance Fund (SAF) into its US$60 billion Absolute Return business to enhance c | [Link](https://longbridge.com/en/news/275703881.md) |
| Platinum Equity to sell waste management firm Urbaser to Blackstone, EQT for $6.6 billion | Platinum Equity to sell waste management firm Urbaser to Blackstone, EQT for $6.6 billion | [Link](https://longbridge.com/en/news/275744530.md) |

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.