Understanding Blackstone’s Private Equity Division
Rise in total performance fees
Between 1H16 and 1H17, Blackstone’s (BX) private equity division’s total performance fees rose substantially, from $595 million to $246 million.
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This rise was mainly due to tactical opportunities and corporate private equity funds. In 1H17, Blackstone’s private equity division saw total revenue of $1.0 billion, compared with $558 million in 1H16.
Blackstone is expected to post EBITDA (earnings before interest, tax, depreciation, and amortization) of $842.2 million in 3Q17. To compare, other alternative asset managers’ (XLF) expected 3Q17 EBITDA are as follows: