Blackstone Group on Thursday reported $190.3 billion in assets under management as of June 30, a 19.9% increase from a year earlier.
The firm had a net loss under GAAP of $74.9 million in the second quarter. Its net income under GAAP the previous quarter was $58.3 million and $86.2 million in the second quarter of 2011.
Blackstone's credit businesses had $50.5 billion in assets under management as of June 30, the highest of the firm's four business segments, up 49.4% from the previous year. Real estate had $50.2 billion, up 33.5% from the previous year; total private equity, $46.6 billion, down 0.2%; and total hedge fund, $43 billion, up 5.7%.
Total segment revenue was $644.3 million, down 33.9% for the second quarter because of lower performance fees and an investment loss of $16.3 million. Total management and advisory fees, however, increased to $516.2 million, up 3.9% from the previous quarter.
Total segment expenses were $422.6 million for the latest quarter, a decrease of 10.8% from three months earlier, primarily the result of a drop in unrealized carried interest.
