Blackstone Group today reported fee-earning assets under management of $93.5 billion in the second quarter, up 1.4% from $92.2 billion in the previous quarter but down 6.2% from a year earlier.
The manager’s $44.7 billion in credit and marketable alternatives rose 2% from $43.9 billion in the previous quarter yet dropped 16% from June 30, 2008.
Part of the asset decrease for the quarter in the credit and marketable alternatives business segment was because of company restructuring and the liquidation of Blackstone’s single-manager proprietary hedge funds, leading to a $3.6 billion drop.
Corporate private equity remained at $25.2 billion in fee-earning assets and real estate rose 12% to $25.2 billion. Blackstone also wrote down 19% of its real estate assets during the quarter.
Management and advisory fees declined during the quarter by 1% to $341.9 million.
Blackstone also reported a GAAP net loss of $164 million for the second quarter, up from net losses of $232 million for the first quarter and $157 million in the second quarter 2008.
The quarterly loss includes net IPO and acquisition charges of $196 million, up slightly from $190 million in the first quarter.
