The US firm said total revenues were $3.7bn, up from $2.5bn a year previously, while net income came in at $1.6bn. Last year it posted net income of $970.7m.

Fee-related earnings were $1.2bn, ahead of last year’s $1.1bn, while AUM hit a record $1.1trn, up 10%. Inflows were $40.5bn.

Distributable earnings per share of $1.01 were up around 7% year-on-year and ahead of forecasts for around $0.92.

Stephen Schwarzman, chief executive, said: “Blackstone reported strong third-quarter results, highlighted by broad-based acceleration across our business.

“We invested or committed $54bn in the quarter – the highest in over two years – and deployed $123bn in the last 12 months since the cost of capital peaked.

“Blackstone is exceptionally well-positioned as the reference firm in the alternatives industry.”

Speaking to the Financial Times, president Jonathan Gray said the firm was considering listing some of its largest investments, in response to improving investor appetite for initial public offerings.

“We are preparing to take some portfolio companies public,” he said. “I would say the discussions have gone from theoretical to practical, and we are talking about things like timing.”

As at 1245 BST, Blackstone’s shares were up 3% higher in pre-market trading.