Investor Presentaiton
CREDIT & INSURANCE
Total AUM: Increased 52% to $264.8 billion with inflows of $17.1 billion in the quarter and $134.2 billion over the
LTM.
Inflows during the quarter included $4.2 billion of equity raised for BCRED, $3.1 billion for liquid credit
strategies, and $2.1 billion for the asset-based finance platform.
July 1 subscriptions of $906 million for BCRED not yet included in Total AUM.
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Closed 5 new U.S. CLOS for $2.8 billion and priced 1 additional U.S. CLO for $394 million.
ā
Realizations: $3.4 billion in the quarter and $18.4 billion over the LTM.
Capital Deployed: $14.3 billion in the quarter and $53.6 billion over the LTM driven by U.S. Direct Lending.
Committed an additional $13.1 billion that was not yet deployed in the quarter.
Returns: Private Credit gross return of (0.1)% ((0.6)% net) and Liquid Credit gross return of (5.5) % ((5.8) % net) for
the quarter, driven by unrealized depreciation in publicly priced securities.
($ in thousands)
Management Fees, Net
$
2Q'21
171,615 $
2Q'22
% Change
vs. 2Q'21
% Change
312,541
82%
2Q'21 YTD
$ 336,969 $
2Q'22 YTD
vs. 2Q'21 YTD
612,764
82%
Fee Related Performance Revenues
15,113
81,086
437%
28,889
148,282
413%
Fee Related Compensation
(78,023)
(137,035)
76%
(155,194)
(264,379)
70%
Other Operating Expenses
(44,504)
(63,882)
44%
(91,339)
(121,049)
33%
Fee Related Earnings
$
64,201 $
192,710
200%
$
119,325 $
375,618
215%
Realized Performance Revenues
41,819
78,973
89%
67,086
109,716
64%
Realized Performance Compensation
(18,342)
(36,109)
97%
(28,387)
(49,495)
74%
Realized Principal Investment Income
5,082
7,019
38%
51,465
29,800
(42)%
Net Realizations
28,559
49,883
75%
90,164
90,021
(0)%
Segment Distributable Earnings
$
92,760 $ 242,593
162%
$
209,489 $
465,639
122%
Segment Revenues
$
233,629 $
479,619
105%
$ 484,409 $
900,562
86%
Total AUM
$ 173,713,854
$264,829,491
52%
$ 173,713,854 $264,829,491
52%
Fee-Earning AUM
$ 127,953,395 $195,548,963
53%
$ 127,953,395 $ 195,548,963
53%
See note on page 33 for additional details on Private Credit return calculations.
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