Blackstone (NYSE: BX) lifts AUM with $63.3 billion of quarterly inflows

What happened

Blackstone Inc. (NYSE: BX) reported third-quarter 2026 results on October 22, 2026, with GAAP net income of $1.3 billion.

Total AUM rose to $1,368.3 billion, up 10% year over year, after $63.3 billion of quarterly inflows and $271.6 billion over the LTM. Fee-earning AUM reached $989.7 billion and perpetual capital AUM reached $562.3 billion.

Blackstone said fee-related earnings were $1.6 billion, distributable earnings were $1.7 billion and net accrued performance revenues were $7.3 billion. Net income per share was $0.83, and distributable earnings per common share were $1.32.

Key numbers

Metric	Latest	Change	Source
GAAP net income	$1.3 billion	from $1.2 billion, +2.9%	SEC 8-K
GAAP net income attributable to Blackstone Inc.	$662 million	from $625 million, +6.0%	SEC 8-K
Total AUM	$1,368.3 billion	from $1,241.7 billion, +10%	SEC 8-K
Quarterly inflows	$63.3 billion		SEC 8-K
Fee-earning AUM	$989.7 billion	from $906.2 billion, +9%	SEC 8-K
Distributable earnings	$1.7 billion	from $1.9 billion, -9.2%	SEC 8-K

Read more: Blackstone (BX) stock analysis and investment case

Why it matters

The quarter shows Blackstone kept gathering capital across its platform.

At about 72% of total AUM, fee-earning AUM is the base that can feed management fees.

Fee-related earnings were $1.6 billion, up from $1.5 billion a year earlier, while distributable earnings were $1.7 billion, down from $1.9 billion a year earlier.

Distributable earnings fell 13.2% sequentially, from $2.0 billion in the second quarter to $1.7 billion in the third.

OptimistFi's case is that Blackstone works if brand, scale and distribution keep attracting long-duration alternative-asset capital and exit markets reopen enough to turn that fee base into performance earnings.

The filing also shows realized performance revenues of $464.4 million, down from $745.0 million a year earlier, which is the clearest caveat.

Blackstone said it had $13.2 billion of cash, cash equivalents, corporate treasury and other investments, $23.5 billion of cash and net investments, and $13.1 billion of outstanding debt at par.

It also said the revolver was $4.3 billion with $3.6 billion undrawn and that its ratings were A+/A+.

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What's next

Blackstone declared a quarterly dividend of $1.12 per share to holders of record at the close of business on November 2, 2026, payable on November 9, 2026.

On-time payment would keep the shareholder payout schedule intact, while any slip would matter more if later quarters also show slower realizations or weaker distributable earnings.

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