Investor Presentaiton
REAL ESTATE
■
Total AUM: Increased 39% to $319.3 billion with inflows of $10.1 billion in the quarter and $117.8 billion over the
LTM.
-
-
Inflows during the quarter included $4.2 billion of capital raised in BREIT, $2.1 billion in the tenth global
opportunistic fund, which commenced its investment period in August, $1.1 billion in BPP, and $1.1 billion across
BREDS.
October 1 subscriptions of $910 million in BREIT not yet included in Total AUM.
Realizations: $4.1 billion in the quarter and $38.6 billion over the LTM.
Completed the third secondary offering of Embassy Office Park REIT units during the quarter.
Capital Deployed: $11.2 billion in the quarter and $64.8 billion over the LTM, including the privatizations of
American Campus Communities and PS Business Parks.
Appreciation: Opportunistic funds declined (0.6)% in the quarter and appreciated 20.1% over the LTM; Core+ funds
appreciated 2.3% in the quarter and 19.3% over the LTM.
% Change
% Change
($ in thousands)
3Q'21
3Q'22
vs. 3Q'21
3Q'21 YTD
3Q'22 YTD
vs. 3Q'21 YTD
Management Fees, Net
$
538,738 $
663,106
23%
$
1,481,571 $
1,940,853
31%
Fee Related Performance Revenues
35,625
260,003
630%
224,793
1,017,027
352%
Fee Related Compensation
(137,313)
(239,572)
74%
(447,762)
(858,307)
92%
Other Operating Expenses
(61,398)
(74,701)
22%
(160,520)
(229,033)
43%
Fee Related Earnings
$
375,652 $
608,836
62%
$ 1,098,082 $ 1,870,540
70%
Realized Performance Revenues
495,727
142,794
(71)%
935,418
2,943,430
215%
Realized Performance Compensation
(199,100)
(33,464)
(83)%
(376,790)
(1,154,897)
207%
Realized Principal Investment Income
42,677
45,297
6%
171,626
128,388
(25)%
Net Realizations
339,304
154,627
(54)%
730,254
1,916,921
163%
Segment Distributable Earnings
$
714,956 $ 763,463
7%
$ 1,828,336 $ 3,787,461
107%
Segment Revenues
$
1,112,767 $ 1,111,200
(0)%
Total AUM
$ 230,183,235 $ 319,346,406
39%
$ 2,813,408 $ 6,029,698
$ 230,183,235 $ 319,346,406
114%
39%
Fee-Earning AUM
$ 180,168,093 $ 273,447,850
52%
$ 180,168,093 $ 273,447,850
52%
Blackstone 10View entire presentation