The Blackstone Group's assets under management hit a record high of $229.6 billion as of June 30, up 5.2% from the previous quarter, according to the alternative money manager's earnings statement released Thursday.
Gross inflows totaled $14.2 billion in the second quarter and $42 billion in the year ended June 30. The firm's funds since June 30 of last year have returned $25 billion of capital to investors.
By business segment, Blackstone's real estate AUM rose 7.4% to $63.9 billion from the previous quarter, while hedge fund solutions AUM rose 3.9% to $50.1 billion, and private equity AUM rose 1.5% to $53.3 billion.
Total AUM rose 20.7% for the year ended June 30. Over the same period, real estate assets under management rose 27.3%, hedge fund solutions AUM rose 16.8% and private equity AUM rose 14.4%.
“In the second quarter, Blackstone doubled revenues and tripled earnings compared to a year ago, as good returns in every one of our businesses drove higher performance fees,” Stephen A. Schwarzman, chairman and CEO, said in the earnings statement. “Robust realizations allowed us to generate significant returns for our fund investors and higher distributable earnings for our unit holders. These past three quarters have been the highest in distributable earnings since Blackstone went public six years ago.”
