Blackstone +1.6% as earnings nearly double

|About: The Blackstone Group L.P. (BX)|By:, SA News Editor

Q4 economic net income of $811.6M or $0.68 per unit vs. $435.7M and $0.37 one year ago. Distributable earnings of $691.8M or $0.55 per unit vs. $878M and $0.72.

Fee revenue  of $688.7M up 4% Y/Y; performance fees of $741.9M up 282%.

Total AUM of $366.6B up 9% Y/Y; fee-earning AUM of $277.1B up 13%. "Dry powder" of $101.3B up 27% Y/Y.

Private Equity ENI of $222.8M up 37% Y/Y, with performance fee revenue of $252.8M up 57%. Carrying value up 4.5% for the quarter, up 10.7% for the year.

Real Estate ENI of $395.4M up 144% Y/Y, with performance fee revenue of $358.3M up 181%. Realizations of $3.5B thanks to share sales of Hilton and Hudson Pacific; $17.6B of realizations for the year.

CC at 11 ET

Full release and presenation

Previously: Blackstone beats by $0.04, beats on revenue (Jan. 26)

CEO Steve Schwarzman: "A strong finish to a turbulent year."

BX +1.6% premarket

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