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Blackstone | 8-K: Blackstone Reports Second Quarter 2024 Results

SEC ·  Jul 18, 2024 05:57

Summary by Moomoo AI

Blackstone reported strong Q2 2024 results with Fee Related Earnings of $1.1 billion ($0.91 per share) and Distributable Earnings of $1.3 billion ($0.96 per share). Total Assets Under Management reached $1.08 trillion, up 7% year-over-year, with Fee-Earning AUM rising 11% to $808.7 billion. Perpetual Capital AUM grew to $418.6 billion, representing 39% of total AUM.The firm demonstrated robust capital activity with $39.4 billion of inflows and $33.7 billion of deployments in Q2, marking the highest investment activity level in two years. Key investments included the privatization of Apartment Income REIT Corp. and Tricon Residential. Realizations for the quarter totaled $23.5 billion.Blackstone declared a quarterly dividend of $0.82 per share payable on August 5, 2024. The firm repurchased 2.0 million common shares during the quarter and increased its share repurchase authorization to $2.0 billion. Net Accrued Performance Revenues stood at $6.2 billion ($5.08 per share) at quarter end.
Blackstone reported strong Q2 2024 results with Fee Related Earnings of $1.1 billion ($0.91 per share) and Distributable Earnings of $1.3 billion ($0.96 per share). Total Assets Under Management reached $1.08 trillion, up 7% year-over-year, with Fee-Earning AUM rising 11% to $808.7 billion. Perpetual Capital AUM grew to $418.6 billion, representing 39% of total AUM.The firm demonstrated robust capital activity with $39.4 billion of inflows and $33.7 billion of deployments in Q2, marking the highest investment activity level in two years. Key investments included the privatization of Apartment Income REIT Corp. and Tricon Residential. Realizations for the quarter totaled $23.5 billion.Blackstone declared a quarterly dividend of $0.82 per share payable on August 5, 2024. The firm repurchased 2.0 million common shares during the quarter and increased its share repurchase authorization to $2.0 billion. Net Accrued Performance Revenues stood at $6.2 billion ($5.08 per share) at quarter end.
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