Economic Net Income was $432 million for the first quarter of 2012, driven by continued strong business growth and appreciation across Blackstone’s funds. Distributable Earnings were $162 million for the first quarter of 2012.
GAAP Results Attributable to The Blackstone Group L.P. were net income of $58 million in the first quarter of 2012, which includes net IPO and acquisition-related charges.
Total Assets Under Management increased 27% to $190 billion at March 31, 2012, from $150 billion at March 31, 2011, while Fee-Earning Assets Under Management increased 26% to a record $156 billion at March 31, 2012, from $124 billion at March 31, 2011.
Blackstone declares a quarterly distribution of $0.10 per common unit.
