Blackstone posted a record $1.1T in assets under management (AUM) for Q4 2024, with fee-earning AUM at $830.7B. Distributable earnings jumped 52% YoY to $2.2B, with a $1.44/share dividend announced. Institutional inflows hit $57.5B for Q4. Despite this, shares dipped 4.1% due to real estate concerns as traditional office and retail demand weakens. The firm deployed $41.6B in investments while returning $1.9B to shareholders.