Blackstone (NYSE:BX) delivered a standout performance in Q3 2024, pushing forward with $54 billion in investments and commitmentsthe most in over two yearswhile deploying $123 billion over the past year. The firm also pulled in $40.5 billion of fresh capital this quarter, cementing its spot at the top of the alternatives market. With total assets under management now hitting $1.11 trillion, Blackstone's diverse platform continues to ride the wave of high-growth areas like real estate, private equity, and credit, ensuring it stays a dominant force in the industry.

GAAP net income for the quarter came in at $1.6 billion, putting the year-to-date total at $4.1 billion. Fee-earning AUM jumped to $820.5 billion, with perpetual capital AUM reaching $434.7 billion, showcasing the firm's ability to attract long-term investors. Distributable earnings hit $1.3 billion for the quarter, and Blackstone returned $1.2 billion to shareholders via dividends and share repurchases. The message is clear: Blackstone knows how to drive results and reward its investors.

On the investment side, Blackstone's strategies performed solidly, especially in private equity and infrastructure, where corporate private equity saw a 6.2% lift and infrastructure surged 18%. Realizations for the quarter totaled $22.7 billion, part of the $77 billion over the last year, proving once again that Blackstone doesn't just talk about valueit delivers. Investors know they're in good hands as the firm continues to generate strong returns and seize opportunities across the board.

This article first appeared on GuruFocus.