How Blackstone’s Private Equity Division Did in 1Q18



Carrying value

In 1Q18, The Blackstone Group’s (BX) corporate private equity division grew 6.4% thanks to its private portfolio. It deployed $4 billion toward Paysafe, Strategic Partners, and Tactical Opportunities. The division’s total revenue rose 9% YoY (year-over-year) to $681.1 million, and its net management and advisory fees rose 6% YoY from $180.6 million to $190.8 million.

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In 1Q18, the division’s realizations fell YoY, to $1 billion. In comparison, competitors (XLF) Apollo Global Management (APO) and Carlyle (CG) witnessed corporate equity realizations of $1.8 billion and $3.4 billion, respectively, in 4Q17.

The corporate private equity division’s economic income fell 9% YoY to $328.2 million from $360.4 million. It had an inflow of $3.5 billion in 1Q18, and its AUM (assets under management) rose YoY to $111.4 billion from $105.6 billion. To compare, KKR’s (KKR) total AUM in its private equity division stood at $97.5 billion in 4Q17.

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