The company said revenues for the 3-month period ended March 31, 2024 were $3.7 billion, up $2.3 billion from $1.4 billion a year earlier. It cited the increase in Investment Income (Loss) of $2.1 billion as the main factor, which was mostly driven by an increase of $2.2 billion in Unrealized Investment Income (Loss).

1. 01

   The company said revenues for the 3-month period ended March 31, 2024 were $3.7 billion, up $2.3 billion from $1.4 billion a year earlier. It cited the increase in Investment Income (Loss) of $2.1 billion as the main factor, which was mostly driven by an increase of $2.2 billion in Unrealized Investment Income (Loss).

2. 02

   Blackstone said the main drivers of the increase in Unrealized Investment Income (Loss) were an increase of $918.3 million in Credit & Insurance (reflecting the shift to unrealized appreciation on its Corebridge common stock holdings), an increase of $539.5 million in Private Equity, and an increase of $538.7 million in Real Estate.

3. 03

   The company said Expenses for Q1 2024 were $1.8 billion, an increase of $601.1 million, and that Performance Allocations Compensation rose by $456.2 million. Provision for Taxes was $283.7 million, and the effective tax rate was 15.1% (18.5% a year earlier).

4. 04

   As of March 31, 2024, the company said Total Assets Under Management stood at $1,061.3 billion, up $21.1 billion from $1,040.2 billion as of December 31, 2023, and Fee-Earning Assets Under Management were $781.4 billion, up $18.8 billion.

Key figures

Quarter ended March 31, 2024

Operating cash flow

$940M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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