Executive Brief

  • Blackstone Inc. announced a preliminary intra-quarter estimate of revenue related to realization activity from July 1, 2025, to September 24, 2025, exceeding $525 million, with over 90% from Realized Performance Revenues (Item 7.01, Exhibit 99.1).
  • The estimate includes closed investment realizations and certain non-fee related incentive fees and other investment income expected at quarter end.
  • This preliminary figure excludes any realization activity after September 24, 2025, and does not represent total revenues or results for the full third quarter, which may differ materially.
  • No financial guidance or full quarter results are provided; the estimate excludes fee income and expenses.
  • The disclosure is made under Regulation FD and is not deemed “filed” for purposes of Section 18 of the Exchange Act.
  • Forward-looking statements are included with standard cautionary language referencing risks and uncertainties, including market developments after September 24, 2025.
  • No other Items such as material definitive agreements, director changes, or financial statements are reported.
  • The press release is posted on Blackstone’s website and attached as Exhibit 99.1.
  • No new financial metrics or guidance revisions beyond the preliminary revenue estimate are disclosed.
  • Next steps include awaiting full third-quarter results and further SEC filings.

Item-by-Item Analysis

Item 7.01 – Regulation FD Disclosure

  • What happened: Blackstone publicly disclosed a preliminary estimate of revenue related to realization activity for the period July 1, 2025, through September 24, 2025.
  • Parties/terms: Blackstone Inc. is the registrant; the estimate exceeds $525 million in total Realized Performance Revenues and Realized Principal Investment Income, with over 90% from Realized Performance Revenues.
  • Conditions: The estimate excludes any realization activity after September 24, 2025, and does not predict total revenues or results for the full quarter ending September 30, 2025.
  • Materiality: The disclosure is made under Regulation FD and is not “filed” for Section 18 liability purposes; it is incorporated by reference only if expressly stated.
  • Forward-looking statements: Present, with detailed cautionary language referencing risks including market developments after the date of the estimate.
  • Source: (Item 7.01, para 1-6), (Exhibit 99.1).

Item 9.01 – Financial Statements and Exhibits

  • Exhibits filed:
    • Exhibit 99.1: Press release dated September 24, 2025, announcing the intra-quarter realization update.
    • Exhibit 104: Inline XBRL cover page.
  • Source: (Item 9.01, para d), (Exhibit 99.1).

Exhibits Summary

  • Exhibit 99.1 Press Release: Provides the preliminary revenue estimate exceeding $525 million for realization activity from July 1 to September 24, 2025, with over 90% from Realized Performance Revenues. It clarifies the estimate excludes subsequent activity and full quarter results, includes certain non-fee related incentive fees, and contains forward-looking statements with risk disclosures.
  • No agreements or investor decks attached.

Financial & Dilution Impact

  • Preliminary revenue related to realization activity exceeds $525 million for the intra-quarter period.
  • No information on expenses, net income, cash flow, or dilution.
  • No guidance revisions or full quarter financial metrics disclosed.

Timeline & Required Actions

  • Period covered: July 1, 2025 to September 24, 2025.
  • Full third-quarter results expected after September 30, 2025 (date unknown).
  • No closing conditions or approvals indicated.
  • No shareholder meetings or votes referenced.

Risks & Monitoring

  • Risks include market developments after September 24, 2025, which could materially affect final results.
  • Forward-looking statements subject to uncertainties described in Blackstone’s 2024 Form 10-K Risk Factors.
  • No mention of material adverse change clauses or termination rights.
  • Investors should monitor full third-quarter earnings release for actual realized revenues and related financial results.

Metadata & Quality Checks

  • No OCR or formatting issues detected.
  • Non-GAAP reconciliation: Unknown (not referenced).
  • Forward-looking statements: Yes, with detailed cautionary language.
  • Related-party transactions: Unknown (not disclosed).

Final Checklist

  • Identified Items: 7.01, 9.01(d)
  • Extracted key facts and figures
  • Summarized press release content
  • Quantified financial impact where possible
  • Noted timeline and next steps
  • Highlighted risks and forward-looking statements
  • Confirmed no other Items present

Summary

Blackstone’s 8-K dated September 24, 2025, reports a preliminary intra-quarter estimate of over $525 million in revenue related to realization activity from July 1 to September 24, 2025, primarily from Realized Performance Revenues. This estimate excludes subsequent activity and full quarter results, which may differ materially. The disclosure is made under Regulation FD with forward-looking statements and risk disclosures. No other material events or financial details are reported. Investors should await the full third-quarter earnings release for comprehensive results.

Original Filing