Blackstone Sees Growth In Overall AUM, Inflows In Q3 2020
Blackstone's third quarter 2020 results are in, and the investment behemoth increased total Assets Under Management to $584.4bn, up 5% year-on-year. Fee-Earning AUM came in at $444.5bn, up 13% year-on-year. The firms' results also shows inflows of $15.1 billion in the third quarter and $88.7bn for the last twelve months.
In Blackstone's Private Equity division, total AUM increased 9% to $189.2bn with inflows of $3.9 billion in the quarter. Those inflows included $2.3bn for Blackstone Growth which officially launched in Q3. Fee-Earning AUM increased 32% to $129.7bn, which the firm says was driven by the commencement of investment periods for BCP VIII, BEP III, and BXLS V in the first quarter. The firm's Private Equity division showed realizations of $4.7bn in the quarter, helped by the sale of Cheniere Energy Partners. Capital Deployed was $4.1bn.
Blackstone's Hedge Fund Solutions division ended Q3 with $77.8bn of AUM with inflows of $1.7bn. Overall, the division delivered gross returns of +2.1% over the last twelve months (1.3% net), with less than one half of the volatility of broader markets, according to the firm.
“Blackstone reported excellent results in the third quarter, characterized by strong investment performance and earnings growth. We are also seeing positive forward momentum in both realizations and deployment. We remain the partner of choice for limited partners globally, who face a challenging investment environment of historically low interest rates. As the pandemic continues to disrupt the global economy and society at large, our people remain unwavering in their dedication to serving our clients," said Stephan A. Schwartzman, Chairman and CEO.
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