In 1Q18, The Blackstone Group’s (BX) Hedge Fund Solutions saw an inflow to its total AUM (assets under management) of $3.9 billion. During the same period, the BPS Composite witnessed a 1.3% gross return and a 1.1% net return amid market fluctuation. Hedge Fund Solutions’ total revenue fell 23% YoY (year-over-year) to $140.4 million from $182.2 million, and its principal investment income fell 94% YoY to $1 million from $17.6 million. The division’s performance revenue also fell YoY, to $15.2 million from $33.4 million.
Total expenses and assets under management
In 1Q18, Hedge Fund Solutions’ total expenses fell YoY to $83.9 million from $84.2 million, and its performance compensation expenses fell 37% YoY to $8.6 million from $13.7 million.
Its total AUM rose 7% YoY to $78.7 billion, mainly due to strategies. The division’s fee-generating AUM stood at $73.6 billion, representing a 7% rise YoY. While Blackstone had a market capitalization of $38.2 billion on April 23, peers (XLF) Brookfield Asset Management (BAM), Ares Management (ARES), and Ameriprise Financial (AMP) had market caps of $35.5 billion, $4.9 billion, and $20.9 billion, respectively.
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