NEW YORK: Blackstone reported a higher-than-expected profit for the first quarter on Thursday, driven by proceeds from asset sales across its private equity and credit businesses.
Policy uncertainty under President Donald Trump, especially regarding tariffs, has led to choppy markets and dampened the appetite for deals – a sharp reversal from earlier this year when hopes of deregulation had boosted enthusiasm.
But, Blackstone’s results emphasise how large alternative asset managers can seize selective dealmaking opportunities even in a challenging environment. Its shares rose nearly 1% before the opening bell.