Blackstone reported record total AUM of $1.346 trillion at the end of Q2 2026, supported by $68 billion in quarterly inflows and $262 billion over the trailing twelve months, with fee-earning AUM reaching $962 billion. Continued strength in private wealth channels, insurance partnerships, and AI-adjacent infrastructure and data-center strategies has sustained fundraising momentum into Q3. Mid-single-digit base fee growth guidance reflects steady deployment and realizations, while equity and credit market conditions influence underlying asset valuations. Q3 2026 earnings, scheduled for release around October 22, will provide the definitive AUM figure and any updates on perpetual capital trends. Traders monitor net flows and market appreciation as the key variables determining whether the quarter-end total exceeds the market-implied threshold.