Blackstone’s infrastructure investments generated a gross return of 11 percent during the third quarter, according to the firm’s latest quarterly earnings report.
During the company’s third quarter earnings call on Oct. 19, Jon Gray, president and COO at Blackstone, said, “Our data center business, QTS, held in BREIT, BPP and our infrastructure vehicle, was the single largest source of appreciation at the firm, driven by explosive growth in data creation that is being accelerated by the AI revolution.”
Subject to deployment, Blackstone expects to activate some growth equity and infrastructure secondaries over the next several quarters, said Michael Chae, CFO at Blackstone.
“Structurally, what’s happening in that market [the secondaries market],” said Gray, “is alternatives continue to grow, and therefore there’s a need for liquidity, and there’s a very limited number of players who are invested in, say, 4,000 funds. And so, it leads to this