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INVESTMENTS (Tables)
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9 Months Ended |
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Sep. 30, 2014
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| Investments |
Investments consists of the following:
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September 30,
2014 |
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December 31,
2013 |
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Investments of
Consolidated Blackstone Funds
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$ |
10,733,353 |
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$ |
12,521,248 |
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Equity Method
Investments
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3,433,312 |
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3,309,879 |
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Blackstone’s
Treasury Cash Management Strategies
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1,693,373 |
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1,104,800 |
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Performance
Fees
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6,122,738 |
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4,674,792 |
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Other
Investments
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138,377 |
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118,804 |
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$ |
22,121,153 |
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$ |
21,729,523 |
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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—Net Gains 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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2014 |
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2013 |
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2014 |
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2013 |
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Realized Gains
(Losses)
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$ |
32,427 |
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$ |
(2,932 |
) |
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$ |
66,366 |
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$ |
95,403 |
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Net Change in Unrealized
Gains (Losses)
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(71,525 |
) |
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46,872 |
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(30,406 |
) |
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(36,855 |
) |
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Realized and Net Change
in Unrealized Gains (Losses) from Consolidated Blackstone
Funds
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(39,098 |
) |
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43,940 |
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35,960 |
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58,548 |
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Interest and Dividend
Revenue Attributable to Consolidated Blackstone Funds
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47,780 |
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44,012 |
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181,462 |
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137,580 |
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Other Income — Net
Gains from Fund Investment Activities
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$ |
8,682 |
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$ |
87,952 |
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$ |
217,422 |
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$ |
196,128 |
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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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2014 |
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2013 |
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2014 |
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2013 |
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Realized Gains
(Losses)
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$ |
2,142 |
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$ |
(6,587 |
) |
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$ |
6,307 |
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$ |
(4,030 |
) |
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Net Change in Unrealized
Gains (Losses)
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(14,541 |
) |
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10,126 |
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1,551 |
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(9,041 |
) |
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$ |
(12,399 |
) |
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$ |
3,539 |
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$ |
7,858 |
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$ |
(13,071 |
) |
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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, 2013
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$ |
971,860 |
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$ |
3,268,606 |
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$ |
9,468 |
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$ |
424,858 |
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$ |
4,674,792 |
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Performance Fees
Allocated as a Result of Changes in Fund Fair Values
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1,222,677 |
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1,435,215 |
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40,181 |
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237,877 |
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2,935,950 |
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Foreign Exchange
Loss
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— |
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(22,975 |
) |
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— |
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— |
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(22,975 |
) |
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Fund
Distributions
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(416,492 |
) |
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(836,664 |
) |
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(18,443 |
) |
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(193,430 |
) |
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(1,465,029 |
) |
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Performance Fees,
September 30, 2014
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$ |
1,778,045 |
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$ |
3,844,182 |
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$ |
31,206 |
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$ |
469,305 |
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$ |
6,122,738 |
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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, |
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2014 |
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2013 |
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2014 |
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2013 |
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Realized Gains
(Losses)
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$ |
(460 |
) |
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$ |
(168 |
) |
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$ |
5,152 |
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$ |
13,938 |
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Net Change in Unrealized
Gains (Losses)
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239 |
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1,331 |
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(6,252 |
) |
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(11,170 |
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$ |
(221 |
) |
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$ |
1,163 |
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$ |
(1,100 |
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$ |
2,768 |
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