Blackstone Inc. Quarterly Report for Q1 Ended Mar 31, 2017

Summary

Blackstone Inc. (BX) reported strong financial performance for the quarter ended March 31, 2017, with total revenues significantly increasing by 108% year-over-year to $1.94 billion. This growth was primarily driven by a substantial surge in Performance Fees, up 238% to $1.06 billion, and a notable increase in Investment Income, which swung from a net loss of $8.5 million in the prior year to a gain of $211.2 million. Management and Advisory Fees also saw a healthy 5% increase to $642.1 million. The company's Net Income attributable to The Blackstone Group L.P. grew by an impressive 189% to $461.8 million, translating to diluted earnings per common unit of $0.69, a significant improvement from $0.23 in the prior year's quarter. The company also reported robust growth in Assets Under Management (AUM), with Fee-Earning AUM reaching $280.2 billion and Total AUM at $368.2 billion, indicating continued success in capital raising and investment deployment across its four business segments: Private Equity, Real Estate, Hedge Fund Solutions, and Credit.

Key Highlights

• 1Total Revenues surged by 108% year-over-year to $1.94 billion, driven by strong performance across all segments.
• 2Performance Fees more than tripled, increasing by 238% to $1.06 billion, reflecting strong investment gains.
• 3Investment Income turned positive, reaching $211.2 million compared to a net loss of $8.5 million in the prior year's quarter.
• 4Net Income attributable to The Blackstone Group L.P. grew by 189% to $461.8 million.
• 5Diluted Earnings Per Common Unit increased significantly to $0.69 from $0.23 in the prior year quarter.
• 6Fee-Earning Assets Under Management grew to $280.2 billion, and Total Assets Under Management reached $368.2 billion.
• 7The company maintained a strong liquidity position with $2.3 billion in cash and cash equivalents and no borrowings under its revolving credit facility.

Frequently Asked Questions