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Blackstone Keeps Growing and Growing

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Just because some of Blackstone’s managed funds had a tougher first quarter this year than last year doesn’t mean the private equity firm has slowed down its growth. The most recent filing suggests that the firm’s assets under management grew by nearly $10 billion between March 1 and May 1, from $78.7 billion to $88.4 billion. That would mean that Blackstone tacked on an additional $163,934,426.23 each day. If the last twenty-one days have followed the pattern, Blackstone would now have over $90 billion under management.
Despite the lower rate of return earned by its funds of funds, one of its hedge funds and its mutual funds, the alternative asset fund management business is clearly driving this growth of assets under management. The bulk of the additional $9.7 billion came from this area—which grew from $29.9 billion on March 1 to $35.3 billion on May 1.
Blackstone has also been adding finance professionals, tacking on five more “investment and advisory professionals” since March. The total headcount of finance professionals now stands at 340. With $88.4 billion under management, that breaks down to around $260 million per man or woman.