Blackstone Inc. announced Thursday that it had surpassed its own internal projections and other private equity firms in achieving $1 trillion assets under management. The alternative-investment firm points to its quick growth to distinguish itself from the pack.

Blackstone , BX, +0.23%, did not extend the five-day winning streak of its shares, as they fell back 0.3% when it reported segment revenues that were lower than expected.

Net distributable profit fell to $1.21billion, or 93c per share, from $1.99billion, or $1.49c per share, during the previous period. This was higher than the FactSet consensus of earnings per share at 92c.

Segment revenue fell 43.4%, to $2.35 Billion, missing the FactSet consensus estimate of $2.43 Billion.

The total assets under management (AUM) increased by 6%, to $1 trillion. AUM that generates fees increased by 7%, to $731.1 Billion.

Stephen Schwarzman, Blackstone’s co-founder and chief executive officer, said that the firm had achieved the $1 trillion AUM three years earlier than expected. The firm launched its first fund with a target of $1 billion in 1986.

Schwarzman, according to the transcript of the conference call, told analysts that “we’ve created an unmatched global platform of leading businesses, offering more than 70 distinct investment strategies.” “We think our clients see us as the gold-standard in alternative asset management.”

The company’s AUM has been growing partly by diversifying into strategies, including a hedge fund-of-funds in 1990, real estate investing in 1991 and expanded credit in 2008. Other strategies include a private wealth unit in 2011, tactical opportunities in 2012 and secondary private equity-fund investing.

Blackstone branched into infrastructure in 2017, followed by the introduction of its life-sciences unit and its insurance-solutions-management unit in 2018. In 2020, the firm will launch its first growth equity funds.

The company announced a quarterly dividend for 79 cents per share payable on August 7, a decrease from the dividend paid at late April of 82 cents.

The stock has risen 45.4% in the last year, while the S&P 500 SPX, -0.58% is up about 18.5%.

Schwarzman stated, “We don’t rest on our past achievements. We always look ahead and strive to take the firm to a new level.” Schwarzman said, “I am confident that the best is yet to come for Blackstone and its investors as well as our shareholders.”

Jonathan Gray, Blackstone’s COO, said that the firm’s private-equity funds had generated net returns of 15% annually for corporate private equity, real estate opportunistic, and secondary markets, 12% for tactical opportunities, and 10% credit, over a period of more than 30 year.

Gray said that the company is currently in talks with banks to help them manage their balance sheets and grow.

Gray stated that “we… have an adequate pipeline behind this.” Gray said that they are in discussions with banks to keep their relationship with their customers but to shrink their balance sheets or to do other things for capacity.

Blackstone’s AUM is now over $1 trillion but its market capitalization is still lower at $130 billion.

The stock has risen 45.3% including Thursday’s trading, exceeding the S&P 500’s 18.4% increase.

Also Read: Treasury Sec. Yellen warns about commercial real estate issues’ which could strain banks