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July 19, 2012 01:00 AM

Blackstone assets up almost 20% over 12 months

Rob Kozlowski
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    P&I
    Assets in billions Change from 2011 $29.9 1.8% Pictured: Daniel Och
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    P&IQ
    Number of hires Total of mandates 4 $385 million Pictured Kenneth Tropin
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    P&IQ
    Number of hires Total of mandates 3 $370 million Pictured Stephen Czech
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    P&IQ
    Number of hires Total of mandates 6 $415 million Pictured Donald Morgan
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    Hedge fund manager D.E. Shaw received three mandates worth $350 million. (Pictured: David Shaw)
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    P&I
    Assets in billions Change from 2011 $36.7 18.4% Pictured: David Warren
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    P&I
    Assets in billions Change from 2011 $31.1 16% Pictured: Michael Platt
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    P&IQ
    Grosvenor received one mandate worth $500 million.Pictured: Michael Sacks
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    Cliff Asness

    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.

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    December 12, 2022 page one

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