Blackstone Group on Thursday reported $158.7 billion in assets under management, up 43% from a year earlier, while fee-earning assets rose 27% to $129 billion for the same time period.
Blackstone sustained a net loss of $120 million from fund investment activities in the first half of 2011, compared to a $113 million net gain in the first six months of last year, according to the company’s second-quarter earnings announcement.
The company had total net income of $185 million in the first two quarters of 2011, up from a net loss of $656 million in the first half of last year. In the latest quarter, net income was $86 million, compared to a net loss of $193 million in the second quarter of 2010.
Revenues for all of Blackstone’s business units totaled $1.3 billion in the second quarter, 142% higher than the second quarter of 2010. The increase was due to higher performance fees, especially in real estate and private equity business units. Total management fees were $514 million, 23% more than the same time last year.