Blackstone Group's assets under management rose to a record $356.3 billion as of June 30, up 3.7% from three months earlier, which was also a record, and up 7% from a year earlier, said the alternative investment firm's earnings report released Thursday.
The firm saw $21.2 billion in gross inflows in the second quarter and $70 billion for the 12-month period. Blackstone deployed $4 billion in the quarter and $10.7 billion year-to-date through June 30.
Private equity assets under management totaled $99.7 billion at the end of the quarter, up 4.4% from March 31 and up 8% from June 30, 2015. Real estate AUM was $103.2 billion as of June 30, up 2% from three months earlier and up 13% from a year earlier. Hedge fund AUM totaled $68.6 billion at the end of the second quarter, up 0.1% from the end of the first quarter and up 1% from the end of the year-earlier quarter. Credit AUM was $84.7 billion, up 7.6% for the three-month period and up 4% for the 12-month period.
Economic net income was $519.8 million for the quarter, compared to $370.7 million in the first quarter and $508.4 million in the year-earlier quarter.
Net income under GAAP was $463 million in the second quarter, up from $150 million in the first quarter and up from $349.5 million year-over-year. Total revenue under GAAP was $1.19 billion in the quarter, compared to $932.4 million in the previous quarter and $1.23 billion in the year-earlier quarter.
