Blackstone’s open-ended infrastructure fund secured over $4bn (€3.3bn) in new commitments during the fourth quarter of 2025, the company reported during its earnings conference call.
Jonathan Gray, Blackstone’s president and COO, said Blackstone Infrastructure Partners (BIP) grew 40% year-over-year to $77bn.
“This was underpinned by exceptional investment performance,” he said, adding that the BIP strategy has generated 18% net returns annually since inception seven years ago.
Gray said: “2025 was one of our best years yet with broad-based gains across digital, energy and transportation infrastructure. Our QTS data centre business was again the largest single driver of returns for BIP as well as in real estate.”
The infrastructure sector also recorded significant valuation gains.
Michael Chae, vice-chairman and COO, said: “Infrastructure led the way with 8.4% appreciation during the fourth quarter and 24% for the full-year in 2025.
To read the latest IPE Real Assets magazine click here.
