Table of Contents

• Blackstone

• Bain & Co and OpenAI

Top Stories Today

Economy & Finance

Blackstone

Blackstone reported stronger-than-expected quarterly earnings, driven by record-high assets under management of $1.1 trillion and significant fund appreciation. The firm saw $41 billion in new investments and committed $54 billion, capitalizing on a revived dealmaking landscape supported by lower interest rates. Blackstone’s private equity and infrastructure funds rose by 6.2% and 5.5%, respectively, marking its highest fund gains in three years. The company’s distributable earnings reached $1.3 billion, exceeding Wall Street forecasts. Key transactions included a $16 billion acquisition of Australia’s AirTrunk and a $8.4 billion Smartsheet deal, enhancing its presence in data centers and software.

Technology

Bain & Co and OpenAI

Bain & Co has strengthened its partnership with OpenAI, planning to bring AI-driven tools, like ChatGPT, to its clients. Building on their previous global services collaboration, Bain now offers OpenAI platforms, including ChatGPT Enterprise, to its staff worldwide. Additionally, Bain is launching an OpenAI Center of Excellence, focusing on developing AI solutions for the retail and healthcare sectors, with plans to branch out into other fields. The partnership involves around 50 Bain employees, though financial details remain undisclosed.

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