Investor Presentaiton
HEDGE FUND SOLUTIONS
Total AUM: $80.1 billion with inflows of $2.0 billion in the quarter and $13.7 billion over the LTM.
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Inflows in the quarter included $322 million for the initial close of the second Dislocation fund.
July 1 subscriptions of $140 million are not yet included in Total AUM.
Returns: BPS Composite gross return of 0.6% in the quarter (0.4% net), demonstrating the ability to provide
downside protection in difficult global markets.
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BPS capitalized on the heightened level of volatility across asset classes through macro and quantitative
strategies and benefited from floating-rate, non-corporate credit exposure throughout the quarter.
Gross returns of 3.9% over the LTM (3.0% net), with significantly less volatility than the broader markets,
compared to (5.1)% return over the LTM for the HFRX Global Hedge Fund Index.
% Change
% Change
($ in thousands)
2Q'21
2Q'22
vs. 2Q'21
Management Fees, Net
$
156,599 $
148,487
(5)%
$
2Q'21 YTD
311,420 $
2Q'22 YTD
294,933
vs. 2Q'21 YTD
(5)%
Fee Related Compensation
(38,638)
(57,863)
50%
(77,488)
(105,098)
36%
Other Operating Expenses
(21,873)
(26,066)
19%
(41,045)
(49,250)
20%
Fee Related Earnings
$
96,088 $
64,558
(33)%
$
192,887 $
140,585
(27)%
Realized Performance Revenues
17,056
7,197
(58)%
48,629
36,110
(26)%
Realized Performance Compensation
(5,626)
(2,083)
(63)%
(12,534)
(11,083)
(12)%
Realized Principal Investment Income
2,125
(1,530)
n/m
37,675
13,371
(65)%
Net Realizations
13,555
3,584
(74)%
73,770
38,398
(48)%
Segment Distributable Earnings
$
109,643 $
68,142
(38)%
$
266,657 $
178,983
(33)%
Segment Revenues
$
175,780 $
154,154
(12)%
$
397,724 $
344,414
(13)%
Total AUM
$ 79,145,263 $ 80,051,408
1%
$ 79,145,263 $ 80,051,408
1%
Fee-Earning AUM
$ 72,240,152 $ 72,629,621
1%
$ 72,240,152 $ 72,629,621
1%
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