Blackstone assets increase 6% for quarter, 8% for year Print Blackstone Group on Wednesday reported $618.6 billion in assets under management as of Dec. 31, up 6% from three months earlier and up 8% from a year earlier. During an investor call, also on Wednesday, Stephen A. Schwarzman, chairman, CEO and co-founder, said that despite a challenging year, Blackstone had $32.3 billion of inflows in the quarter and $95 billion in the year ended Dec. 31. At the same time, Blackstone invested $25.4 billion in the quarter and $61.7 billion in the year. During Wednesday's call, Jonathan Gray, Blackstone president and chief operating officer, discussed Blackstone's acquisition of Allstate Corp.'s life insurance business, Allstate Life Insurance Co., for $2.8 billion that was announced Tuesday evening. Allstate Life Insurance Co. holds about 80% (or $23 billion) of Allstate's life and annuity reserves and generated net income of $467 million in 2019 and a net loss of $23 million in the first nine months of 2020, according to an Allstate news release.