Item 8A. Unaudited Supplemental Presentation of Statements of Financial Condition

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Blackstone Inc.

Unaudited Consolidating Statements of Financial Condition

(Dollars in Thousands)


	December 31, 2024
	Consolidated Operating Partnerships			Consolidated Blackstone Funds (a)			Reclasses and Eliminations			Consolidated
Assets
Cash and Cash Equivalents	$	1,972,140		$	—		$	—		$	1,972,140
Cash Held by Blackstone Funds and Other		—			204,052			—			204,052
Investments		26,791,383			3,890,732			(881,549	)		29,800,566
Accounts Receivable		191,937			45,993			—			237,930
Due from Affiliates		5,436,866			21,089			(48,640	)		5,409,315
Intangible Assets, Net		165,243			—			—			165,243
Goodwill		1,890,202			—			—			1,890,202
Other Assets		938,052			9,807			—			947,859
Right-of-Use Assets		838,620			—			—			838,620
Deferred Tax Assets		2,003,948			—			—			2,003,948

Total Assets	$	40,228,391		$	4,171,673		$	(930,189	)	$	43,469,875

Liabilities and Equity
Loans Payable	$	11,233,468		$	87,488		$	—		$	11,320,956
Due to Affiliates		2,582,178			276,789			(50,819	)		2,808,148
Accrued Compensation and Benefits		6,087,700			—			—			6,087,700
Operating Lease Liabilities		965,742			—			—			965,742
Accounts Payable, Accrued Expenses and Other Liabilities		2,723,551			68,763			—			2,792,314

Total Liabilities		23,592,639			433,040			(50,819	)		23,974,860

Redeemable Non-Controlling Interests in Consolidated Entities		1			801,398			—			801,399

Equity
Common Stock		7			—			—			7
Series I Preferred Stock		—			—			—			—
Series II Preferred Stock		—			—			—			—
Additional Paid-in-Capital		7,444,561			878,014			(878,014	)		7,444,561
Retained Earnings		808,079			1,356			(1,356	)		808,079
Accumulated Other Comprehensive Loss		(20,590	)		(19,736	)		—			(40,326	)
Non-Controlling Interests in Consolidated Entities		4,077,342			2,077,601			—			6,154,943
Non-Controlling Interests in Blackstone Holdings		4,326,352			—			—			4,326,352

Total Equity		16,635,751			2,937,235			(879,370	)		18,693,616

Total Liabilities and Equity	$	40,228,391		$	4,171,673		$	(930,189	)	$	43,469,875

Blackstone Inc.

Unaudited Consolidating Statements of Financial Condition—Continued

(Dollars in Thousands)


	December 31, 2023
	Consolidated Operating Partnerships			Consolidated Blackstone Funds (a)		Reclasses and Eliminations			Consolidated
Assets
Cash and Cash Equivalents	$	2,955,866		$	—	$	—		$	2,955,866
Cash Held by Blackstone Funds and Other		—			316,197		—			316,197
Investments		22,595,236			4,319,483		(768,097	)		26,146,622
Accounts Receivable		186,370			6,995		—			193,365
Due from Affiliates		4,498,250			13,901		(45,630	)		4,466,521
Intangible Assets, Net		201,208			—		—			201,208
Goodwill		1,890,202			—		—			1,890,202
Other Assets		944,078			770		—			944,848
Right-of-Use Assets		841,307			—		—			841,307
Deferred Tax Assets		2,331,394			—		—			2,331,394

Total Assets	$	36,443,911		$	4,657,346	$	(813,727	)	$	40,287,530

Liabilities and Equity
Loans Payable	$	10,616,937		$	687,122	$	—		$	11,304,059
Due to Affiliates		2,273,008			220,758		(100,356	)		2,393,410
Accrued Compensation and Benefits		5,247,766			—		—			5,247,766
Operating Lease Liabilities		989,823			—		—			989,823
Accounts Payable, Accrued Expenses and Other Liabilities		1,886,086			391,172		—			2,277,258

Total Liabilities		21,013,620			1,299,052		(100,356	)		22,212,316

Redeemable Non-Controlling Interests in Consolidated Entities		9			1,179,064		—			1,179,073

Equity
Common Stock		7			—		—			7
Series I Preferred Stock		—			—		—			—
Series II Preferred Stock		—			—		—			—
Additional Paid-in-Capital		6,175,190			701,792		(701,792	)		6,175,190
Retained Earnings		660,734			11,579		(11,579	)		660,734
Accumulated Other Comprehensive Income (Loss)		(36,175	)		17,042		—			(19,133	)
Non-Controlling Interests in Consolidated Entities		3,728,438			1,448,817		—			5,177,255
Non-Controlling Interests in Blackstone Holdings		4,902,088			—		—			4,902,088

Total Equity		15,430,282			2,179,230		(713,371	)		16,896,141

Total Liabilities and Equity	$	36,443,911		$	4,657,346	$	(813,727	)	$	40,287,530

(a)	The Consolidated Blackstone Funds consisted of the following:

Blackstone Annex Onshore Fund L.P.

Blackstone Horizon Fund L.P.

BTD CP Holdings LP

Blackstone Dislocation Fund L.P.

Blackstone European Property Income Fund (Master) FCP*

Blackstone European Property Income Fund SICAV*

BEPIF (Aggregator) SCSp

BX Shipston SCSp**

Blackstone Infrastructure Partners Europe F (CYM) L.P.*

Blackstone Infrastructure Partners Europe Lower Fund 1 (LUX) SCSp*

Blackstone Infrastructure Partners F.4 L.P.*

Blackstone Infrastructure Strategies L.P.*

Blackstone Private Equity Strategies Fund L.P.**

Blackstone Private Equity Strategies Fund SICAV**

Blackstone Private Equity Strategies Fund (Master) FCP**

Clover Credit Partners CLO III, Ltd.

Bayswater Park CLO, Ltd.**

Peebles Park CLO, Ltd.**

Private equity

side-by-side

investment vehicles

Real estate

side-by-side

investment vehicles

*	Consolidated as of December 31, 2024 only

**	Consolidated as of December 31, 2023 only

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