Blackstone Witnesses Substantial Rise in Total Revenue
In 1H16, Blackstone (BX) saw total revenue of $2.1 billion, and in 1H17, its total revenue was $3.5 billion, which reflects a 64% rise. This substantial rise was mainly due to investment income and performance fees.
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In 1H16, Blackstone’s total investment income was $96.6 million, compared with $343 million in 1H17. In 1H16, the company’s performance fee-related revenue was $763 million, and in 1H17, it rose to $1.8 billion. These substantial increases were due to the company’s private equity, hedge fund, and real estate divisions.
In 1H17, strong performance by the company’s opportunistic funds benefited the real estate division, and tactical opportunities and private equity funds benefited the company’s private equity division.
Blackstone reported revenue of $1.5 billion in 2Q17. To compare, other alternative asset managers’ (XLF) revenue was as follows: