Investor Presentaiton
CREDIT & INSURANCE
ā
Total AUM: Increased 43% to $269.1 billion with inflows of $19.1 billion in the quarter and $133.3 billion over the
LTM.
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Inflows in the quarter included $3.2 billion for U.S. Direct Lending SMAs and $2.3 billion equity raised for BCRED.
Held first close for the private credit green energy strategy with $3.6 billion raised in the quarter, and
$4.0 billion total, including funds raised subsequent to quarter end.
October 1 subscriptions of $651 million for BCRED not yet included in Total AUM.
Closed 6 new CLOS (5 U.S. and 1 European) for $2.6 billion.
On October 12, 2022, Blackstone announced a strategic partnership with Resolution Life, with Blackstone to be
Resolution Life's investment manager for certain key areas, managing up to $25.0 billion in the first year, growing
to an expected over $60.0 billion over the next six years.
Realizations: $5.9 billion in the quarter and $20.8 billion over the LTM.
Capital Deployed: $12.3 billion in the quarter and $54.7 billion over the LTM.
Returns: Private Credit gross return of 3.0% (2.1% net); Liquid Credit gross return of 0.7% (0.5% net) for the quarter.
% Change
% Change
($ in thousands)
Management Fees, Net
$
3Q'21
203,839 $
3Q'22
vs. 3Q'21
321,969
58%
$
3Q'21 YTD
540,808 $
3Q'22 YTD
934,733
vs. 3Q'21 YTD
73%
Fee Related Performance Revenues
37,688
112,128
198%
66,577
260,410
291%
Fee Related Compensation
(107,865)
(135,420)
26%
(263,059)
(399,799)
52%
Other Operating Expenses
(51,276)
(68,696)
34%
(142,615)
(189,745)
33%
Fee Related Earnings
$
82,386 $
229,981
179%
$
201,711 $
605,599
200%
Realized Performance Revenues
6,148
12,459
103%
73,234
122,175
67%
Realized Performance Compensation
(1,145)
(4,992)
336%
(29,532)
(54,487)
85%
Realized Principal Investment Income
15,820
46,993
197%
67,285
76,793
14%
Net Realizations
20,823
54,460
162%
110,987
144,481
30%
Segment Distributable Earnings
$
103,209 $
284,441
176%
312,698 $
750,080
140%
Segment Revenues
$
263,495 $
493,549
87%
$
747,904 $
1,394,111
86%
Total AUM
$ 188,356,418
$269,058,778
43%
$ 188,356,418
$ 269,058,778
43%
Fee-Earning AUM
$ 135,897,350
$193,705,941
43%
$ 135,897,350
$193,705,941
43%
Blackstone | 13View entire presentation