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Blackstone’s AUM jumps 26% to a record $210 billion

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Blackstone’s Stephen Schwarzman

The Blackstone Group's assets under management increased 26% to $210 billion, a new record for the company, in the year ended Dec. 31, according to the alternative investment manager's year-end earnings statement released Thursday.

“Strong organic net inflows and market appreciation across all investment businesses, which are at or near record levels of AUM,” drove 2012 growth, the statement said.

By business segment, Blackstone's private equity assets under management rose 11% to $51 billion; real estate assets jumped 32% to $56.7 billion; assets managed in hedge fund solutions were up 14% to $46.1 billion; credit assets soared 53% to $56.4 billion.

Gross inflows for the year were $47 billion; total capital invested was $15.6 billion; and $18.5 billion was returned to investors as investments matured, the statement said.

Blackstone Group's 2012 revenues totaled $4 billion and economic net income was $2 billion, the best financial results the company has experienced since becoming a public company more than five years ago, said Stephen A. Schwarzman, chairman and CEO, in the earnings statement.

“We've generated consistently strong investment performance for our limited partner investors over market cycles since our inception 28 years ago, and 2012 was no exception, with all of our businesses beating their respective benchmarks,” Mr. Schwarzman said.