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Blackstone Hedge Fund Reports $30 Billion In New Capital

New York (HedgeCo.Net) – Blackstone Group, a hedge fund with over $300 billion, reported today in their First Quarter 2015 Results, that their economic net income has doubled since last year, while their distributable earnings rose nearly 160%.

“Blackstone again broke all of our asset and earnings records in the first quarter.” Stephen Schwarzman, Chairman and Chief Executive Officer, said, “Realization activity continued to accelerate while, at the same time, we’ve been raising and investing funds at an unprecedented rate, creating the basis for future value.”

“Our limited partners entrusted us with $30 billion of new capital in the quarter and $77 billion over the last twelve months, shattering our own record for the alternative asset management industry, and driving our Total Assets Under Management to $310 billion, up 14% year over year.”

Some of last year’s highlights:

  • In 2014 Blackstone announced that it will spin off its Advisory, Restructuring, and Park Hill businesses in 2015.
  • Blackstone completed equity capital markets activity of over $20 billion, including initial public offerings of La Quinta, PBF Logistics LP, Michaels Stores, Catalent, Travelport, and Vivint Solar.
  • BAAM, Blackstone’s Hedge Fund Solutions business, launched a UCITS fund in Europe, as well as its second mutual fund.
  • Blackstone’s Real Estate business launched its Core+ platform to focus on stabilized real estate in major markets.
  • Blackstone portfolio company Black Rhino and Dangote Industries announced a commitment to jointly invest up to $5 billion over the next five years in energy infrastructure projects across Sub-Saharan Africa.

The firm also announced that it had hired 20,000 veterans in twenty months through its portfolio since its April 2013 commitment to hire 50,000 in five years.

Blackstone has declared a quarterly distribution of $0.89 per common unit to record holders of common units at the close of business on April 27, 2015. This distribution will be paid on May 4, 2015.

Alex Akesson
Editor for HedgeCo.net
alex@hedgeco.net
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