v2.4.0.6

INVESTMENTS (Tables) | 6 Months Ended
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Jun. 30, 2012
Investments | Investments consist of the following:
|  | June 30, |  |  | December 31, |
|  | 2012 |  |  | 2011 |
Investments of Consolidated Blackstone Funds |  | $ | 14,057,705 |  |  | $ | 10,306,795 |
Equity Method Investments |  |  | 2,253,086 |  |  |  | 2,218,103 |
Blackstone’s Treasury Cash Management Strategies |  |  | 738,886 |  |  |  | 685,859 |
Performance Fees |  |  | 2,271,290 |  |  |  | 1,889,152 |
Other Investments |  |  | 30,491 |  |  |  | 28,390 |
|  | $ | 19,351,458 |  |  | $ | 15,128,299 |
Realized and Net Change in Unrealized Gains (Losses) on Investments | The following table presents the realized and net change in unrealized gains (losses) on investments held by the consolidated Blackstone Funds:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Realized Gains (Losses) |  | $ | (54,791 | ) |  | $ | 36,654 |  |  | $ | (10,441 | ) |  | $ | 106,755 |
Net Change in Unrealized Gains (Losses) |  |  | 232,484 |  |  |  | (142,941 | ) |  |  | 388,169 |  |  |  | (277,831 | )
|  | $ | 177,693 |  |  | $ | (106,287 | ) |  | $ | 377,728 |  |  | $ | (171,076 | )
Reconciliation of Realized and Net Change in Unrealized Gains (Losses) to Other Income (Loss) - Net Gains (Losses) from Fund Investment Activities in Condensed Consolidated Statements of Operations | The following reconciles the Realized and Net Change in Unrealized Gains (Losses) from Blackstone Funds presented above to Other Income (Loss) — Net Gains (Losses) from Fund Investment Activities in the Condensed Consolidated Statements of Operations:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Realized and Net Change in Unrealized Gains (Losses) from Blackstone Funds |  | $ | 177,693 |  |  | $ | (106,287 | ) |  | $ | 377,728 |  |  | $ | (171,076 | )
Interest and Dividend Revenue Attributable to Consolidated Blackstone Funds |  |  | 70,537 |  |  |  | 31,633 |  |  |  | 158,644 |  |  |  | 51,231 |
Other Income — Net Gains (Losses) from Fund Investment Activities |  | $ | 248,230 |  |  | $ | (74,654 | ) |  | $ | 536,372 |  |  | $ | (119,845 | )
Realized and Net Change in Unrealized Gains (Losses) on Investments Held by Blackstone's Treasury Cash Management Strategies | The following table presents the realized and net change in unrealized gains (losses) on investments held by Blackstone’s Treasury cash management strategies:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Realized Gains |  | $ | 2,167 |  |  | $ | 1,321 |  |  | $ | 10 |  |  | $ | 1,020 |
Net Change in Unrealized Gains (Losses) |  |  | 5,245 |  |  |  | 1,592 |  |  |  | 826 |  |  |  | 2,221 |
|  | $ | 7,412 |  |  | $ | 2,913 |  |  | $ | 836 |  |  | $ | 3,241 |
Performance Fees Allocated to Funds | Performance Fees allocated to the general partner in respect of performance of certain Carry Funds, funds of hedge funds and credit-oriented funds were as follows:
|  | Private |  |  | Real |  |  | Hedge Fund |  |  | Credit |  |  |  |
|  | Equity |  |  | Estate |  |  | Solutions |  |  | Businesses |  |  | Total |
Performance Fees, December 31, 2011 |  | $ | 620,359 |  |  | $ | 943,859 |  |  | $ | 1,858 |  |  | $ | 323,076 |  |  | $ | 1,889,152 |
Performance Fees Allocated as a Result of Changes in Fund Fair Values |  |  | (14,305 | ) |  |  | 388,089 |  |  |  | 10,375 |  |  |  | 104,978 |  |  |  | 489,137 |
Foreign Exchange Loss |  |  | — |  |  |  | (3,094 | ) |  |  | — |  |  |  | — |  |  |  | (3,094 | )
Fund Cash Distributions |  |  | (3,349 | ) |  |  | (19,110 | ) |  |  | (3,843 | ) |  |  | (77,603 | ) |  |  | (103,905 | )
Performance Fees, June 30, 2012 |  | $ | 602,705 |  |  | $ | 1,309,744 |  |  | $ | 8,390 |  |  | $ | 350,451 |  |  | $ | 2,271,290 |
Realized and Net Change in Unrealized Gains (Losses), Other Investments | The following table presents Blackstone’s realized and net change in unrealized gains (losses) in other investments:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Realized Gains |  | $ | 541 |  |  | $ | 399 |  |  | $ | 796 |  |  | $ | 399 |
Net Change in Unrealized Gains (Losses) |  |  | (2,547 | ) |  |  | 343 |  |  |  | 190 |  |  |  | 1,292 |
|  | $ | (2,006 | ) |  | $ | 742 |  |  | $ | 986 |  |  | $ | 1,691 |

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