|
INVESTMENTS (Tables)
|
9 Months Ended |
|
Sep. 30, 2013
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| Investments |
Investments
consist of the following:
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September 30,
2013 |
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|
December 31,
2012 |
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Investments of Consolidated
Blackstone Funds
|
|
$ |
12,328,927 |
|
|
$ |
14,026,745 |
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Equity Method
Investments
|
|
|
2,964,438 |
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2,582,504 |
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Blackstone’s Treasury
Cash Management Strategies
|
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|
1,066,170 |
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|
1,411,680 |
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Performance Fees
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|
3,705,713 |
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|
2,780,217 |
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Other
Investments
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|
86,138 |
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|
46,124 |
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$ |
20,151,386 |
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|
$ |
20,847,270 |
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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
table presents the Realized and Net Change in Unrealized Gains
(Losses) on investments held by the consolidated Blackstone Funds
and a reconciliation 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
September 30, |
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Nine Months Ended
September 30, |
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| |
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2013 |
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|
2012 |
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2013 |
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|
2012 |
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Realized Gains
(Losses)
|
|
$ |
(2,932 |
) |
|
$ |
6,162 |
|
|
$ |
95,403 |
|
|
$ |
(4,279 |
) |
|
Net Change in Unrealized
Gains (Losses)
|
|
|
46,872 |
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|
(152,801 |
) |
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|
(36,855 |
) |
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|
235,368 |
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Realized and Net Change in
Unrealized Gains (Losses) from Consolidated Blackstone
Funds
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|
43,940 |
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(146,639 |
) |
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|
58,548 |
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|
231,089 |
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Interest and Dividend
Revenue Attributable to Consolidated Blackstone Funds
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|
44,012 |
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|
10,679 |
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|
137,580 |
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169,323 |
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Other Income (Loss) —
Net Gains (Losses) from Fund Investment Activities
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$ |
87,952 |
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$ |
(135,960 |
) |
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$ |
196,128 |
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$ |
400,412 |
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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
September 30, |
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Nine Months Ended
September 30, |
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| |
|
2013 |
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|
2012 |
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|
2013 |
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|
2012 |
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Realized Gains
(Losses)
|
|
$ |
(6,587 |
) |
|
$ |
3,228 |
|
|
$ |
(4,030 |
) |
|
$ |
3,238 |
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Net Change in Unrealized
Gains (Losses)
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|
10,126 |
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|
6,525 |
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(9,041 |
) |
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7,351 |
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$ |
3,539 |
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$ |
9,753 |
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$ |
(13,071 |
) |
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$ |
10,589 |
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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-focused funds
were as follows:
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Private
Equity |
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Real
Estate |
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Hedge Fund
Solutions |
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Credit |
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Total |
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Performance Fees,
December 31, 2012
|
|
$ |
780,474 |
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|
$ |
1,633,279 |
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$ |
6,214 |
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$ |
360,250 |
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$ |
2,780,217 |
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Performance Fees Allocated
as a Result of Changes in Fund Fair Values
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165,884 |
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1,156,423 |
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|
45,520 |
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|
210,801 |
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|
1,578,628 |
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Foreign Exchange
Gain
|
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|
— |
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|
2,540 |
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— |
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— |
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|
2,540 |
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Fund
Distributions
|
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|
(223,502 |
) |
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(273,755 |
) |
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(10,875 |
) |
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(147,540 |
) |
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(655,672 |
) |
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Performance Fees,
September 30, 2013
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$ |
722,856 |
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$ |
2,518,487 |
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$ |
40,859 |
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$ |
423,511 |
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$ |
3,705,713 |
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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
September 30, |
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Nine Months
Ended
September 30, |
|
| |
|
2013 |
|
|
2012 |
|
|
2013 |
|
|
2012 |
|
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Realized Gains
(Losses)
|
|
$ |
(168 |
) |
|
$ |
111 |
|
|
$ |
13,938 |
|
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$ |
907 |
|
|
Net Change in Unrealized
Gains (Losses)
|
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|
1,331 |
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(912 |
) |
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(11,170 |
) |
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(722 |
) |
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$ |
1,163 |
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$ |
(801 |
) |
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$ |
2,768 |
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$ |
185 |
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