Shares of Blackstone Inc advanced 1.2% to $131.20 during Monday's session, recovering from an early decline tied to the stock's ex-dividend status. The alternative asset manager's involvement in a significant private credit transaction attracted investor attention.
Major AI Infrastructure Financing
Blackstone, alongside Coatue Management, is leading a $10 billion debt financing package for Australia's Firmus, a developer focused on artificial intelligence infrastructure. The capital is earmarked for "Project Southgate," an initiative to build AI training and inference systems. Firmus, collaborating with CDC Data Centres and Nvidia, targets capacity reaching 1.6 gigawatts within three years.
Blackstone Tactical Opportunities and Blackstone Credit & Insurance are providing the funds. Firmus co-CEO Oliver Curtis stated the financing addresses rising global demand for AI computing power, supporting the deployment of thousands of energy-efficient GPUs.
Market Context and Peer Movement
The broader market edged higher, with analysts viewing recent weakness as a temporary pause. Keith Lerner of Truist Advisory Services noted, "You've a sharply oversold market where a little bit of good news can go a long way." Other alternative asset managers also rose: KKR gained approximately 4.0%, Apollo added 0.7%, and Carlyle increased 1.2%.
Blackstone's quarterly dividend of $1.49 per share went ex-dividend Monday, with payment scheduled for February 17 to shareholders of record as of February 9.
Economic Data in Focus
Investors are awaiting key U.S. economic releases this week, including Wednesday's payrolls report and Friday's Consumer Price Index data for January. These figures will influence interest rate expectations and risk appetite. Sustained higher rates could pressure fundraising and fee earnings across the alternative asset sector, potentially tightening the private credit channel supporting large projects.
Market participants will also monitor comments from Blackstone Vice Chairman and CFO Michael Chae, who is scheduled to speak at the Bank of America Securities 2026 Financial Services Conference on Tuesday.
