Blackstone's Second
Quarter 2021 Supplemental
Financial Data
July 22, 2021
Throughout this presentation, all current period amounts are preliminary and unaudited.
Total Segments
Year-to-Date | ||||||||||||||||||||||||||
($ in thousands) | 1Q'19 | 2Q'19 | 3Q'19 | 4Q'19 | 1Q'20 | 2Q'20 | 3Q'20 | 4Q'20 | 1Q'21 | 2Q'21 | 2Q'20 | 2Q'21 | ||||||||||||||
Management and Advisory Fees, Net | ||||||||||||||||||||||||||
Base Management Fees | $ | 757,518 | $ | 805,315 | $ | 809,729 | $ | 873,368 | $ | 910,396 | $ | 941,794 | $ | 1,043,770 | $ | 1,076,094 | $ | 1,117,290 | $ | 1,140,051 | $ | 1,852,190 | $ | 2,257,341 | ||
Transaction, Advisory and Other Fees, Net | 65,150 | 61,495 | 92,702 | 95,073 | 50,665 | 48,292 | 33,628 | 75,290 | 78,640 | 78,125 | 98,957 | 156,765 | ||||||||||||||
Management Fee Offsets | (8,606) | (22,654) | (22,086) | (22,768) | (20,494) | (13,353) | (19,558) | (15,359) | (17,725) | (5,434) | (33,847) | (23,159) | ||||||||||||||
Total Management and Advisory Fees, Net | 814,062 | 844,156 | 880,345 | 945,673 | 940,567 | 976,733 | 1,057,840 | 1,136,025 | 1,178,205 | 1,212,742 | 1,917,300 | 2,390,947 | ||||||||||||||
Fee Related Performance Revenues | 7,779 | 13,624 | 34,225 | 156,373 | 12,466 | 15,033 | 64,950 | 286,227 | 169,168 | 48,889 | 27,499 | 218,057 | ||||||||||||||
Fee Related Compensation | (324,031) | (293,834) | (329,834) | (388,879) | (346,264) | (306,904) | (360,633) | (482,769) | (445,110) | (375,385) | (653,168) | (820,495) | ||||||||||||||
Other Operating Expenses | (123,311) | (142,121) | (144,351) | (161,359) | (138,885) | (143,583) | (151,213) | (189,536) | (161,424) | (182,178) | (282,468) | (343,602) | ||||||||||||||
Fee Related Earnings | $ | 374,499 | $ | 421,825 | $ | 440,385 | $ | 551,808 | $ | 467,884 | $ | 541,279 | $ | 610,944 | $ | 749,947 | $ | 740,839 | $ | 704,068 | $ | 1,009,163 | $ | 1,444,907 | ||
Realized Performance Revenues | 246,769 | 341,386 | 420,840 | 651,647 | 167,233 | 102,177 | 319,954 | 1,276,629 | 401,323 | 792,938 | 269,410 | 1,194,261 | ||||||||||||||
Realized Performance Compensation | (85,240) | (125,466) | (143,870) | (249,359) | (71,302) | (37,787) | (121,730) | (483,528) | (150,924) | (338,271) | (109,089) | (489,195) | ||||||||||||||
Realized Principal Investment Income | 25,908 | 123,557 | 36,148 | 38,542 | 20,290 | 18,938 | 15,884 | 103,821 | 298,156 | 63,132 | 39,228 | 361,288 | ||||||||||||||
Total Net Realizations | 187,437 | 339,477 | 313,118 | 440,830 | 116,221 | 83,328 | 214,108 | 896,922 | 548,555 | 517,799 | 199,549 | 1,066,354 | ||||||||||||||
Total Segment Distributable Earnings | $ | 561,936 | $ | 761,302 | $ | 753,503 | $ | 992,638 | $ | 584,105 | $ | 624,607 | $ | 825,052 | $ | 1,646,869 | $ | 1,289,394 | $ | 1,221,867 | $ | 1,208,712 | $ | 2,511,261 | ||
Net Interest Income (Loss) | 5,061 | 2,761 | (7,767) | (2,496) | (3,941) | (12,634) | (12,731) | (5,604) | (12,928) | (11,201) | (16,575) | (24,129) | ||||||||||||||
Taxes and Related Payables | (29,039) | (55,201) | (35,815) | (76,104) | (23,053) | (63,990) | (40,225) | (176,859) | (84,222) | (140,673) | (87,043) | (224,895) | ||||||||||||||
Distributable Earnings | $ | 537,958 | $ | 708,862 | $ | 709,921 | $ | 914,038 | $ | 557,111 | $ | 547,983 | $ | 772,096 | $ | 1,464,406 | $ | 1,192,244 | $ | 1,069,993 | $ | 1,105,094 | $ | 2,262,237 | ||
Additional Metrics: | ||||||||||||||||||||||||||
Total Segment Revenues | $ | 1,094,518 | $ | 1,322,723 | $ | 1,371,558 | $ | 1,792,235 | $ | 1,140,556 | $ | 1,112,881 | $ | 1,458,628 | $ | 2,802,702 | $ | 2,046,852 | $ | 2,117,701 | $ | 2,253,437 | $ | 4,164,553 | ||
Total Assets Under Management | 511,777,762 | 545,482,337 | 554,022,343 | 571,122,463 | 538,007,285 | 564,330,088 | 584,376,213 | 618,556,928 | 648,803,007 | 684,028,712 | 564,330,088 | 684,028,712 | ||||||||||||||
Fee-Earning Assets Under Management | 352,993,394 | 387,864,642 | 394,138,443 | 408,074,852 | 423,055,037 | 435,825,935 | 444,511,078 | 469,433,114 | 481,225,407 | 498,932,526 | 435,825,935 | 498,932,526 | ||||||||||||||
Weighted-AverageFee-Earning AUM | 349,589,269 | 368,900,952 | 391,977,663 | 398,811,159 | 415,564,944 | 429,440,486 | 440,168,506 | 456,972,096 | 475,329,260 | 490,078,967 | 422,318,608 | 483,197,016 | ||||||||||||||
Inflows | 42,907,124 | 45,111,109 | 20,391,003 | 25,968,043 | 27,312,508 | 20,269,063 | 15,137,679 | 32,294,246 | 31,604,085 | 37,281,457 | 47,581,571 | 68,885,542 | ||||||||||||||
Capital Deployed | 11,783,583 | 17,669,109 | 16,156,664 | 17,339,074 | 14,818,725 | 12,832,119 | 8,601,474 | 25,443,620 | 17,719,156 | 23,819,630 | 27,650,844 | 41,538,786 | ||||||||||||||
Realizations | 8,260,193 | 10,594,391 | 9,747,968 | 11,599,274 | 6,388,694 | 7,350,802 | 7,937,504 | 20,947,988 | 14,868,027 | 19,633,048 | 13,739,496 | 34,501,075 |
Blackstone | 1
Real Estate
Year-to-Date | ||||||||||||||||||||||||||
($ in thousands) | 1Q'19 | 2Q'19 | 3Q'19 | 4Q'19 | 1Q'20 | 2Q'20 | 3Q'20 | 4Q'20 | 1Q'21 | 2Q'21 | 2Q'20 | 2Q'21 | ||||||||||||||
Management Fees, Net | ||||||||||||||||||||||||||
Base Management Fees | $ | 260,245 | $ | 255,636 | $ | 266,779 | $ | 333,523 | $ | 371,438 | $ | 382,704 | $ | 392,785 | $ | 406,556 | $ | 427,186 | $ | 453,664 | $ | 754,142 | $ | 880,850 | ||
Transaction and Other Fees, Net | 23,911 | 23,990 | 73,385 | 54,545 | 23,024 | 32,039 | 17,464 | 25,698 | 26,019 | 38,080 | 55,063 | 64,099 | ||||||||||||||
Management Fee Offsets | (280) | (1,686) | (7,635) | (17,235) | (8,341) | (2,436) | (1,039) | (1,204) | (1,623) | (493) | (10,777) | (2,116) | ||||||||||||||
Total Management Fees, Net | 283,876 | 277,940 | 332,529 | 370,833 | 386,121 | 412,307 | 409,210 | 431,050 | 451,582 | 491,251 | 798,428 | 942,833 | ||||||||||||||
Fee Related Performance Revenues | 6,676 | 11,072 | 30,600 | 149,889 | 4,551 | 6,505 | 55,327 | 271,778 | 155,392 | 33,776 | 11,056 | 189,168 | ||||||||||||||
Fee Related Compensation | (114,816) | (97,795) | (132,183) | (186,465) | (120,296) | (116,640) | (138,342) | (242,827) | (188,492) | (121,957) | (236,936) | (310,449) | ||||||||||||||
Other Operating Expenses | (38,986) | (40,114) | (43,897) | (45,335) | (40,476) | (44,525) | (42,566) | (55,565) | (44,362) | (54,760) | (85,001) | (99,122) | ||||||||||||||
Fee Related Earnings | $ | 136,750 | $ | 151,103 | $ | 187,049 | $ | 288,922 | $ | 229,900 | $ | 257,647 | $ | 283,629 | $ | 404,436 | $ | 374,120 | $ | 348,310 | $ | 487,547 | $ | 722,430 | ||
Realized Performance Revenues | 77,182 | 198,573 | 282,379 | 474,203 | 43,720 | 34,209 | 18,872 | 690,967 | 88,638 | 351,053 | 77,929 | 439,691 | ||||||||||||||
Realized Performance Compensation | (29,900) | (67,742) | (85,544) | (190,910) | (13,392) | (12,547) | (7,343) | (279,416) | (22,762) | (154,928) | (25,939) | (177,690) | ||||||||||||||
Realized Principal Investment Income (Loss) | (2,131) | 47,420 | 17,968 | 16,476 | 7,300 | 1,573 | 4,946 | 10,945 | 100,820 | 28,129 | 8,873 | 128,949 | ||||||||||||||
Total Net Realizations | 45,151 | 178,251 | 214,803 | 299,769 | 37,628 | 23,235 | 16,475 | 422,496 | 166,696 | 224,254 | 60,863 | 390,950 | ||||||||||||||
Segment Distributable Earnings | $ | 181,901 | $ | 329,354 | $ | 401,852 | $ | 588,691 | $ | 267,528 | $ | 280,882 | $ | 300,104 | $ | 826,932 | $ | 540,816 | $ | 572,564 | $ | 548,410 | $ | 1,113,380 | ||
Additional Metrics: | ||||||||||||||||||||||||||
Segment Revenues | $ | 365,603 | $ | 535,005 | $ | 663,476 | $ | 1,011,401 | $ | 441,692 | $ | 454,594 | $ | 488,355 | $ | 1,404,740 | $ | 796,432 | $ | 904,209 | $ | 896,286 | $ | 1,700,641 | ||
Total Assets Under Management | 140,334,043 | 153,604,820 | 157,076,273 | 163,156,064 | 160,934,849 | 166,723,844 | 173,796,594 | 187,191,247 | 196,277,032 | 207,548,236 | 166,723,844 | 207,548,236 | ||||||||||||||
Fee-Earning Assets Under Management | 94,223,034 | 112,287,094 | 116,749,305 | 128,214,137 | 130,424,462 | 134,260,348 | 137,877,640 | 149,121,461 | 155,851,794 | 166,263,493 | 134,260,348 | 166,263,493 | ||||||||||||||
Weighted-AverageFee-Earning AUM | 94,392,083 | 101,945,422 | 113,636,265 | 120,246,037 | 129,319,299 | 132,342,405 | 136,068,993 | 143,499,550 | 152,486,628 | 161,057,644 | 130,966,315 | 157,078,917 | ||||||||||||||
Inflows | 5,033,851 | 14,364,834 | 6,745,847 | 8,046,034 | 12,653,175 | 4,884,629 | 3,872,574 | 12,016,222 | 8,581,463 | 8,879,659 | 17,537,804 | 17,461,122 | ||||||||||||||
Capital Deployed | 3,090,432 | 3,933,090 | 8,165,206 | 7,269,297 | 5,328,987 | 5,855,138 | 2,126,252 | 11,697,207 | 6,247,013 | 4,766,272 | 11,184,125 | 11,013,285 | ||||||||||||||
Realizations | 3,058,141 | 3,989,755 | 4,575,981 | 6,474,022 | 2,518,796 | 2,264,204 | 1,854,440 | 9,619,139 | 1,953,532 | 5,306,047 | 4,783,000 | 7,259,579 |
Blackstone | 2
Private Equity
Year-to-Date | ||||||||||||||||||||||||
($ in thousands) | 1Q'19 | 2Q'19 | 3Q'19 | 4Q'19 | 1Q'20 | 2Q'20 | 3Q'20 | 4Q'20 | 1Q'21 | 2Q'21 | 2Q'20 | 2Q'21 | ||||||||||||
Management and Advisory Fees, Net | ||||||||||||||||||||||||
Base Management Fees | $ | 219,417 | $ | 265,139 | $ | 252,510 | $ | 249,416 | $ | 253,974 | $ | 268,070 | $ | 352,866 | $ | 357,118 | $ | 377,660 | $ | 364,606 | $ | 522,044 | $ | 742,266 |
Transaction, Advisory and Other Fees, Net | 37,291 | 31,526 | 14,657 | 31,700 | 21,413 | 9,521 | 11,571 | 39,935 | 42,707 | 32,272 | 30,934 | 74,979 | ||||||||||||
Management Fee Offsets | (4,985) | (17,689) | (11,889) | (2,764) | (9,215) | (8,031) | (16,264) | (11,118) | (13,919) | (3,601) | (17,246) | (17,520) | ||||||||||||
Total Management and Advisory Fees, Net | 251,723 | 278,976 | 255,278 | 278,352 | 266,172 | 269,560 | 348,173 | 385,935 | 406,448 | 393,277 | 535,732 | 799,725 | ||||||||||||
Fee Related Compensation | (107,587) | (105,107) | (105,773) | (105,285) | (110,368) | (92,825) | (119,301) | (133,044) | (140,597) | (136,767) | (203,193) | (277,364) | ||||||||||||
Other Operating Expenses | (34,201) | (40,429) | (38,235) | (47,145) | (41,001) | (44,827) | (45,702) | (63,683) | (51,055) | (61,041) | (85,828) | (112,096) | ||||||||||||
Fee Related Earnings | $ | 109,935 | $ | 133,440 | $ | 111,270 | $ | 125,922 | $ | 114,803 | $ | 131,908 | $ | 183,170 | $ | 189,208 | $ | 214,796 | $ | 195,469 | $ | 246,711 | $ | 410,265 |
Realized Performance Revenues | 156,599 | 122,907 | 124,231 | 65,255 | 112,076 | 64,513 | 295,239 | 405,665 | 255,845 | 383,010 | 176,589 | 638,855 | ||||||||||||
Realized Performance Compensation | (50,556) | (52,081) | (52,034) | (37,895) | (54,643) | (25,016) | (112,713) | (174,577) | (111,209) | (159,375) | (79,659) | (270,584) | ||||||||||||
Realized Principal Investment Income | 25,139 | 42,906 | 11,977 | 10,227 | 10,347 | 17,416 | 10,248 | 34,078 | 115,403 | 27,796 | 27,763 | 143,199 | ||||||||||||
Total Net Realizations | 131,182 | 113,732 | 84,174 | 37,587 | 67,780 | 56,913 | 192,774 | 265,166 | 260,039 | 251,431 | 124,693 | 511,470 | ||||||||||||
Segment Distributable Earnings | $ | 241,117 | $ | 247,172 | $ | 195,444 | $ | 163,509 | $ | 182,583 | $ | 188,821 | $ | 375,944 | $ | 454,374 | $ | 474,835 | $ | 446,900 | $ | 371,404 | $ | 921,735 |
Additional Metrics: | ||||||||||||||||||||||||
Segment Revenues | $ | 433,461 | $ | 444,789 | $ | 391,486 | $ | 353,834 | $ | 388,595 | $ | 351,489 | $ | 653,660 | $ | 825,678 | $ | 777,696 | $ | 804,083 | $ | 740,084 | $ | 1,581,779 |
Total Assets Under Management | 158,988,748 | 171,171,687 | 173,858,400 | 182,886,109 | 174,695,883 | 184,118,135 | 189,153,816 | 197,549,222 | 211,801,085 | 223,621,359 | 184,118,135 | 223,621,359 | ||||||||||||
Fee-Earning Assets Under Management | 85,446,868 | 96,467,272 | 97,936,871 | 97,773,964 | 128,300,802 | 129,284,112 | 129,701,748 | 129,539,630 | 131,903,347 | 132,475,486 | 129,284,112 | 132,475,486 | ||||||||||||
Weighted-AverageFee-Earning AUM | 83,353,397 | 89,368,698 | 97,708,402 | 98,030,747 | 113,037,383 | 128,792,457 | 129,492,930 | 129,620,689 | 130,721,488 | 132,189,416 | 118,452,960 | 131,306,154 | ||||||||||||
Inflows | 28,471,460 | 16,806,806 | 3,254,530 | 8,303,774 | 8,868,851 | 5,202,708 | 3,942,139 | 5,016,765 | 7,831,642 | 7,335,028 | 14,071,559 | 15,166,670 | ||||||||||||
Capital Deployed | 7,106,190 | 7,914,780 | 5,808,814 | 5,771,634 | 5,538,755 | 5,037,928 | 4,134,163 | 8,176,887 | 5,635,608 | 9,456,689 | 10,576,683 | 15,092,297 | ||||||||||||
Realizations | 3,742,658 | 4,678,685 | 2,812,162 | 2,307,409 | 2,031,106 | 2,990,225 | 4,665,183 | 7,618,263 | 8,093,375 | 8,633,166 | 5,021,331 | 16,726,541 |
Blackstone | 3
Hedge Fund Solutions
Year-to-Date | ||||||||||||||||||||||||
($ in thousands) | 1Q'19 | 2Q'19 | 3Q'19 | 4Q'19 | 1Q'20 | 2Q'20 | 3Q'20 | 4Q'20 | 1Q'21 | 2Q'21 | 2Q'20 | 2Q'21 | ||||||||||||
Management Fees, Net | ||||||||||||||||||||||||
Base Management Fees | $ | 137,328 | $ | 136,990 | $ | 140,694 | $ | 141,718 | $ | 139,656 | $ | 145,455 | $ | 146,082 | $ | 151,637 | $ | 150,533 | $ | 155,244 | $ | 285,111 | $ | 305,777 |
Transaction and Other Fees, Net | 318 | 723 | 691 | 1,801 | 758 | 859 | 1,255 | 3,027 | 4,346 | 1,558 | 1,617 | 5,904 | ||||||||||||
Management Fee Offsets | - | - | (18) | (120) | (42) | 4 | (22) | (590) | (58) | (203) | (38) | (261) | ||||||||||||
Total Management Fees, Net | 137,646 | 137,713 | 141,367 | 143,399 | 140,372 | 146,318 | 147,315 | 154,074 | 154,821 | 156,599 | 286,690 | 311,420 | ||||||||||||
Fee Related Compensation | (42,954) | (36,622) | (38,898) | (33,486) | (46,191) | (40,353) | (41,405) | (33,764) | (38,850) | (38,638) | (86,544) | (77,488) | ||||||||||||
Other Operating Expenses | (17,885) | (21,112) | (20,495) | (22,507) | (18,667) | (17,807) | (19,652) | (23,632) | (19,172) | (21,873) | (36,474) | (41,045) | ||||||||||||
Fee Related Earnings | $ | 76,807 | $ | 79,979 | $ | 81,974 | $ | 87,406 | $ | 75,514 | $ | 88,158 | $ | 86,258 | $ | 96,678 | $ | 96,799 | $ | 96,088 | $ | 163,672 | $ | 192,887 |
Realized Performance Revenues | 4,091 | 11,960 | 1,848 | 108,677 | 1,767 | 1,482 | 5,618 | 170,922 | 31,573 | 17,056 | 3,249 | 48,629 | ||||||||||||
Realized Performance Compensation | (1,413) | (2,175) | (1,000) | (19,713) | (945) | 0 | (1,257) | (29,022) | (6,908) | (5,626) | (945) | (12,534) | ||||||||||||
Realized Principal Investment Income (Loss) | (283) | 12,306 | 1,480 | 8,204 | (609) | (331) | (150) | 55,200 | 35,550 | 2,125 | (940) | 37,675 | ||||||||||||
Total Net Realizations | 2,395 | 22,091 | 2,328 | 97,168 | 213 | 1,151 | 4,211 | 197,100 | 60,215 | 13,555 | 1,364 | 73,770 | ||||||||||||
Segment Distributable Earnings | $ | 79,202 | $ | 102,070 | $ | 84,302 | $ | 184,574 | $ | 75,727 | $ | 89,309 | $ | 90,469 | $ | 293,778 | $ | 157,014 | $ | 109,643 | $ | 165,036 | $ | 266,657 |
Additional Metrics: | ||||||||||||||||||||||||
Segment Revenues | $ | 141,454 | $ | 161,979 | $ | 144,695 | $ | 260,280 | $ | 141,530 | $ | 147,469 | $ | 152,783 | $ | 380,196 | $ | 221,944 | $ | 175,780 | $ | 288,999 | $ | 397,724 |
Total Assets Under Management | 80,182,772 | 81,435,680 | 81,154,390 | 80,738,112 | 73,720,792 | 75,668,139 | 77,788,713 | 79,422,869 | 81,819,220 | 79,145,263 | 75,668,139 | 79,145,263 | ||||||||||||
Fee-Earning Assets Under Management | 73,647,014 | 74,653,420 | 74,877,976 | 75,636,004 | 68,214,435 | 70,200,141 | 71,699,793 | 74,126,610 | 76,614,206 | 72,240,152 | 70,200,141 | 72,240,152 | ||||||||||||
Weighted-AverageFee-Earning AUM | 73,458,940 | 74,793,579 | 76,166,677 | 75,377,926 | 71,925,219 | 69,207,288 | 70,949,967 | 72,913,202 | 75,370,408 | 74,427,179 | 71,350,193 | 74,326,989 | ||||||||||||
Inflows | 2,568,943 | 3,812,651 | 3,164,093 | 2,697,168 | 3,246,661 | 3,323,861 | 1,717,874 | 2,126,960 | 2,066,958 | 2,197,161 | 6,570,522 | 4,264,119 | ||||||||||||
Capital Deployed | 231,590 | 2,101,802 | 659,457 | 711,503 | 605,702 | 877,481 | 558,213 | 647,225 | 556,727 | 1,249,409 | 1,483,183 | 1,806,136 | ||||||||||||
Realizations | 186,558 | 296,126 | 305,905 | 483,379 | 138,987 | 516,843 | 192,729 | 544,335 | 194,347 | 303,557 | 655,830 | 497,904 |
Blackstone | 4
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The Blackstone Group Inc. published this content on 22 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 July 2021 11:07:10 UTC.