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    How Phoenix Partnership and Exit Revenues Will Impact Blackstone (BX) Investors

    Simply Wall St·12/25/2025 03:40:29
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    • Phoenix Financial and Blackstone recently announced a partnership under which Phoenix will commit up to US$5 billion across Blackstone-managed corporate, real estate and asset-based credit strategies, drawing on Blackstone’s global origination and co-investment platform.
    • This comes as Blackstone also disclosed that it expects more than US$1 billion in realized revenues from investment exits in Q4 2025, underscoring how successful realizations can reinforce its position as one of the world’s largest alternative credit managers with over US$1.20 trillion in assets.
    • We’ll now examine how Blackstone’s strong realized revenues from recent investment exits may influence the existing investment narrative around future growth.

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    Blackstone Investment Narrative Recap

    To own Blackstone, you generally need to believe in its ability to keep raising and deploying large pools of capital, then converting them into fee income and realizations over time. The Phoenix Financial partnership and Blackstone’s expectation of more than US$1 billion in realized revenues in Q4 2025 both support the near term catalyst of strong realization activity, while the biggest ongoing risk remains that macro uncertainty or market volatility could slow exits and delay capital deployment.

    Among recent news, the Phoenix Financial partnership looks most relevant here. Phoenix’s plan to commit up to US$5 billion across Blackstone-managed credit strategies ties directly into Blackstone’s core strengths in credit origination and co-investment, reinforcing the same fee and realization engines that underpin the current growth story. It also sits alongside Blackstone’s US$508 billion of existing credit assets, showing how incremental flows can matter even at this scale.

    However, investors should also be aware that a sharp drop in realization activity or delayed deployments could quickly change how sustainable this recent revenue strength really is...

    Read the full narrative on Blackstone (it's free!)

    Blackstone's narrative projects $21.5 billion revenue and $10.5 billion earnings by 2028. This requires 16.7% yearly revenue growth and a $7.6 billion earnings increase from $2.9 billion today.

    Uncover how Blackstone's forecasts yield a $179.78 fair value, a 16% upside to its current price.

    Exploring Other Perspectives

    BX 1-Year Stock Price Chart
    BX 1-Year Stock Price Chart

    Some of the lowest ranked analysts paint a far more cautious picture, even while assuming revenue could reach about US$19.2 billion by 2028, so it is worth comparing those views with the risk that rapid growth in infrastructure and private wealth could create operational strains that this latest Phoenix deal and realization news may or may not ease.

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    Build Your Own Blackstone Narrative

    Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.