Blackstone reports its best financial results in its 36-year history

 Alternative asset manager Blackstone has published its results for the third quarter of 2021 and highlights that it has been its best period in its 36-year history.
On these magnificent results, Stephen A. Schwarzman, Chairman and Chief Executive Officer, said: “Today, Blackstone reported the best results in our 36-year history. Earnings increased dramatically, and all of our key financial and capital metrics reached record or near-record levels. Most importantly, we continue to deliver outstanding investment performance for our limited partners, with the third quarter capping our best twelve-month period for fund appreciation. Looking forward, we have more avenues for growth than ever before, and I believe we are in the early stages of a long-term acceleration of our business. "

According to Blackstone's detailed report, GAAP (Generally Accepted Accounting Principles) net income was $ 3.2 billion for the quarter and $ 9.4 billion so far this year. Additionally, last twelve months total segment distributable earnings were $ 6.0 billion, a 97% increase over the prior year.

Other highlights highlighted by Blackstone are:
Financial measures
Rate Related Earnings (FRE) of $ 779 million ($ 0.65 / share) for the quarter, an increase of 28%
  • FRE was $ 3.0 billion in the last twelve months ($ 2.47 / share), which means an increase of 37%
Distributable Earnings (DE) of $ 1.6 billion ($ 1.28 / share) in the quarter, an increase of 112% year-over-year
  • DE was $ 5.4 billion in the last twelve months ($ 4.19 / share), 92% more
Cumulative performance net income of $ 8.3 billion ($ 6.90 / share), an increase of 134%

Capital metrics
Total Assets Under Management (AUM) of $ 730.7 billion, an increase of 25% year-over-year
  • Fee payment AUM of $ 528.4 billion, a 19% year-over-year increase
Inflows of $ 46.7 billion in the quarter and $ 147.9 billion over the last twelve months
Realizations of $ 21.8 billion in the quarter and $ 77.2 billion over the last twelve months
Deployment of $ 37.1 billion in the quarter and $ 104.1 billion over the last twelve months

Capital returned to shareholders
Dividend of $ 1.09 per common share payable on November 8, 2021
  • Dividends of $ 3.57 per common share over the last twelve months
Repurchase of 2.9 million ordinary shares in the quarter and 6.0 million ordinary shares in the last twelve months
$ 1.8 billion to be distributed to shareholders with respect to the third quarter up to dividends and share buybacks, and $ 5.3 billion in the last twelve months.

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