Blackstone’s Schwarzman points to rise in AUM, dry powder; ENI misses
January 29, 2016
As part of the firm’s 4Q and full-year 2015 results announcement, Blackstone has reported economic net income of $435.7 million in 4Q, a 70% drop from almost $1.45 billion in 4Q 2014. The firm also reported it raised AUM up to a lofty $336 billion in 2015, up from $290 billion last year; $246 billion in assets are eligible to collect fees. Blackstone’s dry powder stands at $80 billion.
CEO and co-founder Stephen Schwarzman pointed to this industry-leading pool of deployable funds as a great opportunity to invest in long-term plays as asset prices have fallen. As we lay out in our PitchBook 2015 Annual U.S. PE Breakdown, overall U.S. private equity valuations fell 4.8% YoY while deal count fell by over 8%.