Financial Results
New York-Listed Blackstone Sees Increase In AuM
New
York-listed Blackstone said that its
total
assets under management increased 21 per cent year-on-year to a
record
$248 billion, driven, the firm says, by $53 billion of gross
inflows and
$25 billion of market appreciation across all investment
businesses.
Blackstone said that its third quarter earnings increased by 3
per
cent year-on-year due to an increase of fee revenue and profits
from its
holdings sales.
Gross inflows at the firm reached $21 billion in Q3
and $53 billion over the last 12 months, including $9.1 billion
for
the Strategic Partners acquisition.
Blackstone said that its total revenues were up 40 per cent for
the
quarter and 17 per cent year-to-date compared to the same periods
last
year, primarily due to an increase in activity of its
Restructuring and
Park Hill fund placement businesses, the firm said in a
statement.
Meanwhile, distributable earnings increased 59 per cent year-on-year to $313 million, the firm said.
