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Alternative Market Briefing

Blackstone’s Q1-13 AUM up 15% from last year to record $218bn

Friday, April 19, 2013

Benedicte Gravrand, Opalesque Geneva: - For the first quarter of 2013 (Q1-13), Blackstone declared its economic net income had risen by 28% to $628m, up from $491m in last year’s first quarter, driven by strong fund performance. GAAP net income was $168m and distributable earnings increased 134% year-over-year (yoy) to $379m.

Total AUM reached a record $218bn, up 15% yoy (from $190bn) with double-digit increases across all investing businesses, driven by $31bn of organic inflows and $18bn of market appreciation across all investment fims, each of which are at record levels. Fee earning AuM was $170bn, up 9% yoy, as $30bn of gross inflows and $4bn of market appreciation more than offset $18bn of outflows largely related to realizations.

Stephen A. Schwarzman, Chairman and CEO, said, "Blackstone achieved strong first quarter results across the board. Revenue rose 29% year-over-year, and earnings were up 28%. Greater realizations, reaching $6 billion in the quarter, drove our second best quarter for cash earnings since becoming a public company. Blackstone also continues to show sustained asset growth. Although several of our investment firms are already the largest of their kind in the world, every one reported year-over-year double-digit growth in total assets under management."

Stakeholders will get a quarterly $0.30 (up 200% yoy) per common unit in early May.

Blackstone, a leading investment a......................

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