Blackstone weathers COVID-19 storm with roughly $152bn in dry powder

Blackstone entered the coronavirus pandemic in an enviable position, having raised nearly $250 billion over two years and with approximately $152 billion of dry powder capital to put to work, the most of any other firm in the alternatives industry.

“Despite the extremely challenging environment, we continued to generate significant cash flow for our shareholders, distributing over $700 million through dividends and share repurchases in the quarter, and $3.2 billion over the last twelve months,” said Stephen Schwarzman, Blackstone chairman and chief executive office, in the company’s first quarter earnings statement.

Total assets . . .

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