Blackstone Group's assets under management totaled $333.9 billion as of Sept. 30, up 0.4% from three months earlier and up 17% year-over-year, said the alternative investment firm in its third-quarter earnings report released Thursday.
The firm reported $16.1 billion in gross inflows for the third quarter and $96.9 billion for the 12-month period. It returned $59.7 billion to investors during the 12 months ended Sept. 30.
However, economic net income showed a loss of $416 million in the three months ended Sept. 30, its first quarterly loss since 2011. A gain of $508.4 million and $758.4 million was reported in the second quarter and third quarter of 2014, respectively.
Net income under GAAP was a $254.7 million loss in the third quarter, compared to a $134.2 million gain in the second quarter and $250.5 million gain in the third quarter of 2014.
Total revenue under GAAP was $11.6 million in the third quarter, compared to $1.2 billion in the previous quarter and $1.7 billion in third quarter of 2014.
“Despite declines in the public markets that affected our economic net income, underlying trends in our businesses and our portfolio companies remain favorable, which is what drives value ultimately,” said Stephen A. Schwarzman, chairman and CEO, in a statement accompanying the report.