“We have internal targets, plans, aspirations to basically double where we are,” he told Bloomberg. As of late September, the private equity firm had $387 billion in assets under management, more than double the amount it oversaw five years ago.
Real estate is the company’s largest business line, with $111.3 billion in assets under management.
On a call last week, Blackstone’s president Tony James said he still sees plenty of opportunities in real estate, even if the market has slowed down.
“Real estate is a gargantuan market,” he said during the company’s quarterly earnings media call Thursday. “There are always undermanaged assets.”