Blackstone Group has some big plans for the future.

The firm is aiming to double its assets to $800B over the next five years by expanding its investments into new areas, including a new infrastructure fund and early stage growth investing, Bloomberg reports.

Blackstone has already doubled the amount overseen for clients since 2012. The firm had its fastest quarter-over-quarter growth since 2015 during the third quarter with assets under management increasing 4.4%. And these are only expected to continue rising during the fourth quarter.

Blackstone is one of the beneficiaries of Saudi Arabia, which is shifting its focus to investing to reduce its reliance on oil. In May, Blackstone received an estimated $20B from Saudi Arabia's Public Investment Fund to be put toward infrastructure deals.

The company's stock has increased 33% this year, an increase it attributes largely to its real estate investments, which have included Invitation Homes Inc. and Hilton WorldWide Holdings Inc. Blackstone recently expanded its footprint and bought a 51% stake in the Banco Popular real estate properties and loans portfolio, worth an estimated $35B, as well as the full share capital of Banco's real estate management company, Aliseda.