|
INVESTMENTS (Tables)
|
6 Months Ended |
|
Jun. 30, 2012
|
| Investments |
Investments
consist of the following:
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|
June 30, |
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|
December 31, |
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| |
|
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 |
|
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|
$ |
19,351,458 |
|
|
$ |
15,128,299 |
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| 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:
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| |
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
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| |
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2012 |
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2011 |
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|
2012 |
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|
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 |
) |
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|
|
|
|
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|
$ |
177,693 |
|
|
$ |
(106,287 |
) |
|
$ |
377,728 |
|
|
$ |
(171,076 |
) |
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| 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:
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| |
|
Three Months Ended June 30, |
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|
Six Months Ended June 30, |
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| |
|
2012 |
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|
2011 |
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|
2012 |
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|
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 |
|
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|
31,633 |
|
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|
158,644 |
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|
51,231 |
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Other Income — Net
Gains (Losses) from Fund Investment Activities
|
|
$ |
248,230 |
|
|
$ |
(74,654 |
) |
|
$ |
536,372 |
|
|
$ |
(119,845 |
) |
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| 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:
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| |
|
Three Months Ended June 30, |
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|
Six Months Ended June 30, |
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| |
|
2012 |
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|
2011 |
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|
2012 |
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|
2011 |
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|
Realized Gains
|
|
$ |
2,167 |
|
|
$ |
1,321 |
|
|
$ |
10 |
|
|
$ |
1,020 |
|
|
Net Change in Unrealized
Gains (Losses)
|
|
|
5,245 |
|
|
|
1,592 |
|
|
|
826 |
|
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|
2,221 |
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|
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|
$ |
7,412 |
|
|
$ |
2,913 |
|
|
$ |
836 |
|
|
$ |
3,241 |
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| 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:
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Private |
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Real |
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Hedge Fund |
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Credit |
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Equity |
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Estate |
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|
Solutions |
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|
Businesses |
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Total |
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|
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 |
|
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|
10,375 |
|
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|
104,978 |
|
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|
489,137 |
|
|
Foreign Exchange
Loss
|
|
|
— |
|
|
|
(3,094 |
) |
|
|
— |
|
|
|
— |
|
|
|
(3,094 |
) |
|
Fund Cash
Distributions
|
|
|
(3,349 |
) |
|
|
(19,110 |
) |
|
|
(3,843 |
) |
|
|
(77,603 |
) |
|
|
(103,905 |
) |
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Performance Fees,
June 30, 2012
|
|
$ |
602,705 |
|
|
$ |
1,309,744 |
|
|
$ |
8,390 |
|
|
$ |
350,451 |
|
|
$ |
2,271,290 |
|
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| 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:
|
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| |
|
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 |
|
|
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|
|
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|
|
|
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|
|
|
|
$ |
(2,006 |
) |
|
$ |
742 |
|
|
$ |
986 |
|
|
$ |
1,691 |
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