Q3 Smiles On Blackstone’s Hedge Fund And Private Equity Units

Blackstone’s alternatives units boasted a good quarter. Results released today show that revenues for the firm’s hedge fund unit—Hedge Fund Solutions—more than doubled from the year ago quarter driven by an increase of 17% in assets under management, which was a result of growth and fund performance. The last quarter alone saw a 9% jump in AUM. Also in the hedge fund unit, composite returns were up 3.3% net for the quarter and up 6.2% net year-to-date. Net inflows were $1.7 billion for the quarter and $3.2 billion year-to-date. As of the end of September, $18.5 billion or 77% of incentive fee-earning AUM was estimated to be above high water marks, up from $9 billion or 41% last quarter.  

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