Assets under management at Blackstone hit a record $974.7 billion as at the end of December 2022, an increase of 10.6% on $880.9 billion reported at the end of the same quarter in 2021, but just shy of the company’s stated $1 trillion target for the year.
Assets under management at Blackstone hit a record $974.7 billion as at the end of December 2022, an increase of 10.6% on $880.9 billion reported at the end of the same quarter in 2021, but just shy of the company’s stated $1 trillion target for the year.
Blackstone saw inflows of $43.1 billion in the Q4 quarter, down from the 44.8 billion seen in the third quarter, and significantly lower than the $154.8 billion seen in Q3 2021.
Net realisations totalled $366.9 billion in the fourth quarter, down 8.9% from $402.6 billion in the third quarter and down 55.1% from $817.5 billion in the final quarter of 2021.
Capital deployment meanwhile, amounted to $18.7 billion in the Q4, down 40.3% from $31.3 billion in the third quarter, and down 71.6% from $65.8 billion in the the final three mon the of 2021.
In a statement, Blackstone chairman and CEO Stephen A Schwarzman, said: “Despite one of the most challenging market backdrops in history, Blackstone delivered for our clients in 2022. We protected investor capital by focusing on the right sectors, leading to an additional $226 billion of inflows for the year, including $43 billion in the fourth quarter. Our total assets under management grew to a record $975 billion, up 11% year over year. We now have a record $187 billion of dry powder capital to take advantage of compelling investment opportunities in a dislocated environment.”
