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Investments (Tables)
 12 Months Ended
Dec. 31, 2022
Investments
Investments consist of the following:
 
                                                   
    
December 31,
    
2022
   
2021
Investments of Consolidated Blackstone Funds
   
$
5,136,966
 
   
$
2,018,829
 
Equity Method Investments
                  
Partnership Investments
   
 
5,530,419
 
   
 
5,635,212
 
Accrued Performance Allocations
   
 
12,360,684
 
   
 
17,096,873
 
Corporate Treasury Investments
   
 
1,053,540
 
   
 
658,066
 
Other Investments
   
 
3,471,642
 
   
 
3,256,063
 
    
 
 
 
   
 
 
 
    
$
27,553,251
 
   
$
28,665,043
 
    
 
 
 
   
 
 
 
Reconciliation of Realized and Net Change in Unrealized Gains (Losses) to Other Income (Loss) - Net Gains (Losses) from Fund Investment Activities in 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 Consolidated Statements of Operations:
 
                                                                            
    
Year Ended December 31,
    
2022
   
2021
   
2020
Realized Gains (Losses)
   
$
99,457
 
   
$
145,305
 
   
$
(126,397
) 
Net Change in Unrealized Losses
   
 
(264,204
) 
   
 
289,938
 
   
 
60,363
 
    
 
 
 
   
 
 
 
   
 
 
 
Realized and Net Change in Unrealized Gains (Losses) from Consolidated Blackstone Funds
   
 
(164,747
) 
   
 
435,243
 
   
 
(66,034
) 
Interest and Dividend Revenue Attributable to Consolidated Blackstone Funds
   
 
59,605
 
   
 
26,381
 
   
 
96,576
 
    
 
 
 
   
 
 
 
   
 
 
 
Other Income (Loss) — Net Gains (Losses) from Fund Investment Activities
   
$
(105,142
) 
   
$
461,624
 
   
$
30,542
 
    
 
 
 
   
 
 
 
   
 
 
 
Summarized Financial Information of Partnership's Equity Method Investments
The summarized financial information of Blackstone’s equity method investments for December 31, 2022 are as follows:
 
                                                                                                                              
    
December 31, 2022 and the Year Then Ended
    
Real
Estate
  
Private
Equity
  
Credit &
Insurance
  
Hedge Fund
Solutions
  
Total
Statement of Financial Condition
                                         
Assets
                                         
Investments
   
$
295,985,447
 
  
$
182,732,362
 
  
$
87,362,311
 
  
$
38,209,892
 
  
$
604,290,012
 
Other Assets
   
 
13,601,083
 
  
 
3,194,088
 
  
 
6,345,260
 
  
 
4,079,065
 
  
 
27,219,496
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Total Assets
   
$
309,586,530
 
  
$
185,926,450
 
  
$
93,707,571
 
  
$
42,288,957
 
  
$
631,509,508
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Liabilities and Equity
                                         
Debt
   
$
118,075,949
 
  
$
22,779,131
 
  
$
39,049,599
 
  
$
662,805
 
  
$
180,567,484
 
Other Liabilities
   
 
7,735,780
 
  
 
1,310,998
 
  
 
5,644,625
 
  
 
2,092,757
 
  
 
16,784,160
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Total Liabilities
   
 
125,811,729
 
  
 
24,090,129
 
  
 
44,694,224
 
  
 
2,755,562
 
  
 
197,351,644
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Equity
   
 
183,774,801
 
  
 
161,836,321
 
  
 
49,013,347
 
  
 
39,533,395
 
  
 
434,157,864
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Total Liabilities and Equity
   
$
309,586,530
 
  
$
185,926,450
 
  
$
93,707,571
 
  
$
42,288,957
 
  
$
631,509,508
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Statement of Operations
                                         
Interest Income
   
$
2,917,115
 
  
$
2,012,916
 
  
$
5,764,150
 
  
$
16,069
 
  
$
10,710,250
 
Other Income
   
 
9,432,802
 
  
 
824,779
 
  
 
690,193
 
  
 
286,444
 
  
 
11,234,218
 
Interest Expense
   
 
(3,644,118
) 
  
 
(722,626
) 
  
 
(1,450,447
) 
  
 
(41,522
) 
  
 
(5,858,713
) 
Other Expenses
   
 
(11,089,520
) 
  
 
(2,132,320
) 
  
 
(1,303,902
) 
  
 
(255,459
) 
  
 
(14,781,201
) 
Net Realized and Unrealized Gain from Investments
   
 
7,807,056
 
  
 
2,146,281
 
  
 
(1,330,895
) 
  
 
483,946
 
  
 
9,106,388
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Net Income
   
$
5,423,335
 
  
$
2,129,030
 
  
$
2,369,099
 
  
$
489,478
 
  
$
10,410,942
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
 
The summarized financial information of Blackstone’s equity method investments for December 31, 2021 are as follows:
 
                  
                  
                  
                  
                  
 
  
December 31, 2021 and the Year Then Ended
 
  
Real

Estate
 
Private

Equity
 
Credit &
Insurance
 
Hedge Fund
Solutions
 
Total
Statement of Financial Condition
  
 
 
 
 
Assets
  
 
 
 
 
Investments
   
$
241,808,879
 
  
$
175,726,829
 
  
$
68,426,090
 
  
$
39,691,668
 
  
$
525,653,466
 
Other Assets
   
 
13,463,009
 
  
 
5,776,462
 
  
 
5,412,041
 
  
 
3,020,159
 
  
 
27,671,671
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Total Assets
   
$
255,271,888
 
  
$
181,503,291
 
  
$
73,838,131
 
  
$
42,711,827
 
  
$
553,325,137
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Liabilities and Equity
                                         
Debt
   
$
76,760,932
 
  
$
20,434,354
 
  
$
30,792,984
 
  
$
1,243,453
 
  
$
129,231,723
 
Other Liabilities
   
 
6,999,032
 
  
 
2,153,071
 
  
 
3,159,548
 
  
 
3,084,558
 
  
 
15,396,209
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Total Liabilities
   
 
83,759,964
 
  
 
22,587,425
 
  
 
33,952,532
 
  
 
4,328,011
 
  
 
144,627,932
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Equity
   
 
171,511,924
 
  
 
158,915,866
 
  
 
39,885,599
 
  
 
38,383,816
 
  
 
408,697,205
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Total Liabilities and Equity
   
$
255,271,888
 
  
$
181,503,291
 
  
$
73,838,131
 
  
$
42,711,827
 
  
$
553,325,137
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Statement of Operations
                                         
Interest Income
   
$
1,422,743
 
  
$
1,640,402
 
  
$
2,584,486
 
  
$
3,563
 
  
$
5,651,194
 
Other Income
   
 
6,115,960
 
  
 
318,485
 
  
 
306,490
 
  
 
315,894
 
  
 
7,056,829
 
Interest Expense
   
 
(1,475,065
) 
  
 
(331,350
) 
  
 
(427,459
) 
  
 
(30,073
) 
  
 
(2,263,947
) 
Other Expenses
   
 
(6,847,739
) 
  
 
(1,666,930
) 
  
 
(828,689
) 
  
 
(282,474
) 
  
 
(9,625,832
) 
Net Realized and Unrealized Gain from Investments
   
 
31,078,396
 
  
 
43,895,781
 
  
 
3,562,579
 
  
 
4,605,235
 
  
 
83,141,991
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Net Income
   
$
30,294,295
 
  
$
43,856,388
 
  
$
5,197,407
 
  
$
4,612,145
 
  
$
83,960,235
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
 
(a)
Other represents the summarized financial information of equity method investments whose results, for segment reporting purposes, have been allocated across more than one of Blackstone’s segments.
 
The summarized financial information of Blackstone’s equity method investments for December 31, 2020 are as follows:
 
                                                                                                                                                       
    
December 31, 2020 and the Year Then Ended
    
Real
Estate
  
Private
Equity
  
Credit &
Insurance
  
Hedge Fund
Solutions
  
Other (a)
  
Total
Statement of Financial Condition
                                                 
Assets
                                                 
Investments
   
$
140,317,595
 
  
$
112,647,584
 
  
$
25,473,283
 
  
$
32,829,525
 
  
$
11,915
 
  
$
311,279,902
 
Other Assets
   
 
5,234,463
 
  
 
2,650,267
 
  
 
2,088,882
 
  
 
3,047,256
 
  
 
95,798
 
  
 
13,116,666
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Total Assets
   
$
145,552,058
 
  
$
115,297,851
 
  
$
27,562,165
 
  
$
35,876,781
 
  
$
107,713
 
  
$
324,396,568
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Liabilities and Equity
                                                 
Debt
   
$
29,962,733
 
  
$
15,928,802
 
  
$
7,553,301
 
  
$
886,292
 
  
$
—
 
  
$
54,331,128
 
Other Liabilities
   
 
5,777,808
 
  
 
1,657,846
 
  
 
1,216,354
 
  
 
3,320,551
 
  
 
48,275
 
  
 
12,020,834
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Total Liabilities
   
 
35,740,541
 
  
 
17,586,648
 
  
 
8,769,655
 
  
 
4,206,843
 
  
 
48,275
 
  
 
66,351,962
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Equity
   
 
109,811,517
 
  
 
97,711,203
 
  
 
18,792,510
 
  
 
31,669,938
 
  
 
59,438
 
  
 
258,044,606
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Total Liabilities and Equity
   
$
145,552,058
 
  
$
115,297,851
 
  
$
27,562,165
 
  
$
35,876,781
 
  
$
107,713
 
  
$
324,396,568
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Statement of Operations
                                                 
Interest Income
   
$
608,120
 
  
$
1,083,534
 
  
$
1,196,544
 
  
$
22,157
 
  
$
—
 
  
$
2,910,355
 
Other Income
   
 
1,074,818
 
  
 
71,219
 
  
 
323,577
 
  
 
283,250
 
  
 
115,504
 
  
 
1,868,368
 
Interest Expense
   
 
(1,006,311
) 
  
 
(345,060
) 
  
 
(211,507
) 
  
 
(68,887
) 
  
 
—
 
  
 
(1,631,765
) 
Other Expenses
   
 
(1,889,153
) 
  
 
(1,405,029
) 
  
 
(525,456
) 
  
 
(225,384
) 
  
 
(53,292
) 
  
 
(4,098,314
) 
Net Realized and Unrealized Gain (Losses) from Investments
   
 
5,150,127
 
  
 
7,638,733
 
  
 
(1,965,087
) 
  
 
2,449,079
 
  
 
—
 
  
 
13,272,852
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Net Income (Loss)
   
$
3,937,601
 
  
$
7,043,397
 
  
$
(1,181,929
) 
  
$
2,460,215
 
  
$
62,212
 
  
$
12,321,496
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
 
(a)
Other represents the summarized financial information of equity method investments whose results, for segment reporting purposes, have been allocated across more than one of Blackstone’s segments.
Performance Fees Allocated to Funds
Accrued Performance Allocations to Blackstone were as follows:
 
                                                                                                                              
    
Real
Estate
  
Private
Equity
  
Credit &
Insurance
  
Hedge Fund
Solutions
  
Total
Accrued Performance Allocations, December 31, 2021
   
$
8,471,754
 
  
$
7,550,468
 
  
$
618,246
 
  
$
456,405
 
  
$
17,096,873
 
Performance Allocations as a Result of Changes in Fund Fair Values
   
 
2,072,431
 
  
 
(71,156
) 
  
 
106,622
 
  
 
58,216
 
  
 
2,166,113
 
Foreign Exchange Loss
   
 
(122,812
) 
  
 
—
 
  
 
—
 
  
 
—
 
  
 
(122,812
) 
Impact of Consolidation
   
 
(10,393
) 
  
 
—
 
  
 
—
 
  
 
—
 
  
 
(10,393
) 
Fund Distributions
   
 
(5,076,863
) 
  
 
(1,441,737
) 
  
 
(154,970
) 
  
 
(95,527
) 
  
 
(6,769,097
) 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Accrued Performance Allocations, December 31, 2022
   
$
5,334,117
 
  
$
6,037,575
 
  
$
569,898
 
  
$
419,094
 
  
$
12,360,684
 
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Realized and Net Change in Unrealized Gains (Losses) on Investments The following table presents the Realized and Net Change in Unrealized Gains (Losses) on these investments:
 
                                                                            
    
Year Ended December 31,
    
2022
   
2021
   
2020
Realized Gains (Losses)
   
$
(21,511
) 
   
$
741
 
   
$
44,700
 
Net Change in Unrealized Gains (Losses)
   
 
(57,426
) 
   
 
39,549
 
   
 
(91,299
) 
    
 
 
 
   
 
 
 
   
 
 
 
    
$
(78,937
) 
   
$
  40,290
 
   
$
(46,599
) 
    
 
 
 
   
 
 
 
   
 
 
 
Realized and Net Change in Unrealized Gains in Other Investments The following table presents Blackstone’s Realized and Net Change in Unrealized Gains (Losses) in Other Investments:
 
                                                                            
    
Year Ended December 31,
    
2022
   
2021
   
2020
Realized Gains
   
$
203,327
 
   
$
163,199
 
   
$
19,573
 
Net Change in Unrealized Gains (Losses)
   
 
(1,128,244
) 
   
 
340,867
 
   
 
(2,647
) 
    
 
 
 
   
 
 
 
   
 
 
 
    
$
(924,917
) 
   
$
504,066
 
   
$
 16,926