Blackstone Group reported a record $290 billion in assets under management as of Dec. 31, up 2% from Sept. 30 and up 9% from Dec. 31, 2013, the alternative investment manager’s earnings report said.
Blackstone raised $19.1 billion in the fourth quarter alone, with total capital raised of $56.9 billion in all of 2014.
GAAP net income was $551.5 million for the fourth quarter, down 11% from the fourth quarter of 2013. Blackstone’s net income under GAAP for the year was $1.6 billion, up 33% from 2013.
Contributing to the year-over-year increase in net income under GAAP reporting was an increase of fee-related earnings of $967 million for the year, compared to $745 million in 2013.
Blackstone also released its first investment strategy for retail investors during the period, which raised about $500 million from high-net-worth individuals.