Dealmaking, disruption, and real estate’s recovery
In his latest quarterly ‘Market Views’ commentary, Blackstone President Jon Gray noted that Blackstone’s private equity companies delivered 9% revenue growth in the fourth quarter, alongside continued low defaults across the firm’s private credit portfolio.
Gray said the deal environment has gained momentum, with the Medline IPO in December 2025 – the largest sponsor IPO on record – highlighting strong demand for high-quality businesses.
Lastly, he emphasized his favourite way to invest in AI is through power since data centers, robots, autonomous vehicles all need to be powered up. He also highlighted improving momentum in real estate, with office leasing volume in New York City going back to pre-COVID periods.
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