Blackstone’s infrastructure business secured over $3bn (€2.6bn) in capital commitments during the third quarter of 2025, according to Jonathan Gray, Blackstone’s president and COO, during the company’s third-quarter earnings call.
Gray said that Blackstone’s dedicated infrastructure platform grew 32% year over year to $69bn, adding that the Blackstone Infrastructure Partners (BIP) strategy has generated 17% net returns annually since inception in 2019.
BIP has so far invested in North America and Europe with a focus on core, core-plus and public-private partnership investments.
During the earnings call, Michael Chae, Blackstone’s chief financial officer, also said “infrastructure led the way, with 5.2% appreciation in the quarter and 19% for the last 12 months.”
The strong performance reflects broad-based gains across the portfolio’s digital infrastructure assets, including notable strength in its data centre platform, alongside growth in its power and transportation-related holdings.
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