Blackstone has finally joined a special club of companies managing $1 trillion in assets, a milestone that would puts it in the same league as mutual fund behemoths like BlackRock and Fidelity and banking giants like JPMorgan Chase.
Blackstone on Thursday became the first in the private equity industry to hit that level.
The company’s latest quarterly earnings report stated that it had managed just over $1 trillion in assets as of the end of June.
Attaining that size cements Blackstone’s position as a major player in mainstream finance.