Blackstone Sees ‘Best Year Ever’ for Its IPOs as Earnings Beat

Blackstone Inc. reported a larger-than-expected jump in distributable earnings, boosted by a robust start to dealmaking before the war in Iran rattled investors. With US markets rising and AI ventures preparing to go public, President Jon Gray predicted the firm’s “best year ever” for stock listings.

Distributable earnings — or profits available to shareholders — rose 25% to $1.76 billion in the three months through March, the New York-based company said in a statement Thursday. That amounted to $1.36 per share, beating the $1.34 average estimate of analysts surveyed by Bloomberg.

Gray had boasted in January that dealmaking was accelerating ...