Blackstone Group LP Q1 2017 Revenues Double Compared to Q1 2016

April 24, 2017 | by James Sprow | Blue Vault

Stephen A. Schwarzman, Chairman and Chief Executive Officer, said, “Blackstone reported outstanding results in the first quarter, marked by strong returns across our major fund strategies as well as our best quarter for realizations on record. The result was a more than doubling of revenue and earnings versus the prior-year period, and our second best quarterly distribution ever, at $0.87 per common unit. In total, we will have distributed nearly $14 per common unit of value since the IPO, including $2.50 per year on average over the past three years(a), making Blackstone consistently one of the highest yielding large-capitalization companies in the world.”  

Blackstone Group LP is one of the world’s leading investment firms. Its asset management businesses have over $360 billion in assets under management. include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis.  

Blackstone’s real estate private equity group has $102 billion under management as of December 31, 2016. In 2016, Blackstone introduced its first nontraded REIT program with Blackstone Real Estate Income Trust, Inc. The nontraded REIT had raised over $650 billion in its public offering through March 31, 2017, by far the largest capital raise among all nontraded REIT programs. In March 2017 alone the REIT reported sales of over $170 million for approximately 28% market share among the nontraded REITs raising equity.

Blackstone Group LP issued a full detailed presentation of its first quarter 2017 results, which can be viewed at www.blackstone.com.

Blackstone Group LP has declared a quarterly distribution of $0.87 per common unit to record holders of common units at the close of business on May 1, 2017. This distribution will be paid on May 8, 2017.