|
INVESTMENTS (Tables)
|
3 Months Ended |
|
Mar. 31, 2015
|
| Investments |
Investments
consists of the following:
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| |
|
March 31,
2015 |
|
|
December 31,
2014 |
|
|
Investments of Consolidated
Blackstone Funds
|
|
$ |
11,123,132 |
|
|
$ |
11,375,407 |
|
|
Equity Method
Investments
|
|
|
3,144,959 |
|
|
|
3,240,825 |
|
|
Blackstone’s Treasury
Cash Management Strategies
|
|
|
1,631,696 |
|
|
|
1,666,061 |
|
|
Performance Fees
|
|
|
6,842,398 |
|
|
|
6,337,045 |
|
|
Other Investments
|
|
|
154,069 |
|
|
|
146,251 |
|
|
|
|
|
|
|
|
|
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|
$ |
22,896,254 |
|
|
$ |
22,765,589 |
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| Reconciliation of Realized and Net Change in Unrealized Gains (Losses) to Other Income - Net Gains 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 March 31, |
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| |
|
2015 |
|
|
2014 |
|
|
Realized Gains
|
|
$ |
65,658 |
|
|
$ |
13,713 |
|
|
Net Change in Unrealized
Gains (Losses)
|
|
|
109,247 |
|
|
|
(27,214 |
) |
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|
|
|
|
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|
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|
Realized and Net Change in
Unrealized Gains (Losses) from Consolidated Blackstone
Funds
|
|
|
174,905 |
|
|
|
(13,501 |
) |
|
Interest and Dividend
Revenue Attributable to Consolidated Blackstone Funds
|
|
|
64,067 |
|
|
|
83,656 |
|
|
|
|
|
|
|
|
|
|
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Other Income — Net
Gains from Fund Investment Activities
|
|
$ |
238,972 |
|
|
$ |
70,155 |
|
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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 March 31, |
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| |
|
2015 |
|
|
2014 |
|
|
Realized Gains
(Losses)
|
|
$ |
(161 |
) |
|
$ |
3,094 |
|
|
Net Change in Unrealized
Gains
|
|
|
11,111 |
|
|
|
8,970 |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
10,950 |
|
|
$ |
12,064 |
|
|
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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 |
|
|
Real
Estate |
|
|
Hedge Fund
Solutions |
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|
Credit |
|
|
Total |
|
|
Performance Fees,
December 31, 2014
|
|
$ |
2,215,584 |
|
|
$ |
3,721,751 |
|
|
$ |
15,031 |
|
|
$ |
384,679 |
|
|
$ |
6,337,045 |
|
|
Performance Fees
Allocated as a Result of Changes in Fund Fair Values
|
|
|
949,515 |
|
|
|
674,475 |
|
|
|
12,353 |
|
|
|
7,115 |
|
|
|
1,643,458 |
|
|
Foreign Exchange
Loss
|
|
|
— |
|
|
|
(43,947 |
) |
|
|
— |
|
|
|
— |
|
|
|
(43,947 |
) |
|
Fund
Distributions
|
|
|
(402,044 |
) |
|
|
(666,321 |
) |
|
|
(12,696 |
) |
|
|
(13,097 |
) |
|
|
(1,094,158 |
) |
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Performance Fees,
March 31, 2015
|
|
$ |
2,763,055 |
|
|
$ |
3,685,958 |
|
|
$ |
14,688 |
|
|
$ |
378,697 |
|
|
$ |
6,842,398 |
|
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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 March 31, |
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| |
|
2015 |
|
|
2014 |
|
|
Realized Gains
|
|
$ |
22 |
|
|
$ |
6,307 |
|
|
Net Change in Unrealized
Gains (Losses)
|
|
|
371 |
|
|
|
(6,504 |
) |
|
|
|
|
|
|
|
|
|
|
|
$ |
393 |
|
|
$ |
(197 |
) |
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