Blackstone reported third-quarter earnings of $1.4 billion Thursday, almost twice the $794.7 million figure in the same period last year.
Its assets under management reached $730.7 billion by the end of the quarter.
The firm has made a number of significant moves across sports-related industries this year.
- On Wednesday, it purchased a majority stake in Spanx at a $1.2 billion valuation.
- Last month, it entered an agreement to sell the Las Vegas Cosmopolitan casino and hotel as part of a $5.65 billion deal, making it Blackstone’s most profitable real estate deal ever.
- In July, Blackstone bought a majority stake in Certified Collectibles Group at a valuation of more than $500 million.
- In April, it took part in an $80 million funding round for Overtime.
At $156 billion, Blackstone now has a higher market capitalization than Goldman Sachs and IBM.
Its stock has increased more than 100% since the beginning of the year.
![Feb 15, 2025; Montreal, Quebec, CAN; [Imagn Images direct customers only] Team United States forward Matthew Tkachuk (19) and Team Canada forward brandon Hagel (38) fight in the first period during a 4 Nations Face-Off ice hockey game at the Bell Centre.](https://frontofficesports.com/wp-content/uploads/2025/02/USATSI_25429594_168416385_lowres-e1739674194139.jpg?quality=100&w=1024)
