Key Takeaways
- • Blackstone's credit and insurance business reported $35.8bn of inflows in Q3 2026, bringing 12-month inflows to $142.8bn, according to Alternative Credit Investor.
- • Credit and insurance assets under management rose 11% to $480bn, within a firm-wide AUM of more than $1.37tn.
- • Infrastructure and asset-based credit drew $18bn of inflows, $16.5bn of which came from insurance separately managed accounts.
- • The division deployed $13.4bn in the quarter and $62.1bn over the last 12 months, and closed three CLOs worth $1.3bn.
- • Private credit delivered a 2.6% gross (1.8% net) return in Q3 and 6.7% gross (3.9% net) over 12 months.
Summary
Blackstone, the world's largest alternative asset manager, reported strong third-quarter 2026 results for its credit and insurance business, according to Alternative Credit Investor. Assets under management across the firm topped $1.37tn in the quarter, while the credit and insurance platform reached $480bn, an 11% increase.
The division attracted $35.8bn of inflows during the quarter and $142.8bn over the past 12 months. Infrastructure and asset-based credit strategies accounted for $18bn of quarterly inflows, of which $16.5bn came from insurance separately managed accounts. The global direct lending strategy added $11.9bn.
On the deployment side, the division put $13.4bn to work in the quarter, driven by infrastructure and asset-based credit and US direct lending, including transactions with Williams and Air Canada. Over the last twelve months, deployment totaled $62.1bn. Blackstone also closed three new collateralised loan obligations worth $1.3bn during the period.
Private credit posted a gross return of 2.6% in the third quarter, or 1.8% net of fees, and 6.7% gross (3.9% net) over the trailing twelve months.
Stephen Schwarzman, chairman and chief executive of Blackstone, said the firm delivered strong results amid a volatile external environment. He noted that flagship strategies outperformed comparable public market indices and that total inflows reached $63bn across the firm, with momentum across its major fundraising channels. Schwarzman pointed to AI and energy infrastructure as key investment themes the firm is positioned to address.
The division attracted $35.8bn of inflows during the quarter and $142.8bn over the past 12 months. Infrastructure and asset-based credit strategies accounted for $18bn of quarterly inflows, of which $16.5bn came from insurance separately managed accounts. The global direct lending strategy added $11.9bn.
On the deployment side, the division put $13.4bn to work in the quarter, driven by infrastructure and asset-based credit and US direct lending, including transactions with Williams and Air Canada. Over the last twelve months, deployment totaled $62.1bn. Blackstone also closed three new collateralised loan obligations worth $1.3bn during the period.
Private credit posted a gross return of 2.6% in the third quarter, or 1.8% net of fees, and 6.7% gross (3.9% net) over the trailing twelve months.
Stephen Schwarzman, chairman and chief executive of Blackstone, said the firm delivered strong results amid a volatile external environment. He noted that flagship strategies outperformed comparable public market indices and that total inflows reached $63bn across the firm, with momentum across its major fundraising channels. Schwarzman pointed to AI and energy infrastructure as key investment themes the firm is positioned to address.
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