Blackstone has released a preliminary estimate for the period from July 1, 2024, to September 24, 2024, regarding its expected revenue from realization activity. The company anticipates recording total realized performance revenues and total realized principal investment income in excess of $300 million for this period.
The breakdown of this estimate reveals that approximately 85% of the expected revenue is attributed to realized performance revenues, while the remaining 15% is from realized principal investment income. This estimate includes revenue related to investment realizations closed to date in the third quarter, as well as certain non-fee related incentive fees and other investment income expected to be realized by the end of the quarter.
It's important to note that this preliminary estimate is not intended to predict or represent total realized performance revenues, total realized principal investment income, or total segment revenues for the quarter ending September 30, 2024, and actual results for the full quarter may differ significantly. Additionally, the estimate does not include the results or impact of any other sources of income, including fee income, or expenses.
Blackstone emphasized that the preliminary estimate is not indicative of the results that may be expected for any other period, including the year ending December 31, 2024.
As of now, this preliminary estimate provides insight into the company's performance for the specified period, indicating substantial revenue from realization activity. However, it's important to await the full quarterly results to gain a comprehensive understanding of Blackstone's financial performance. As a result of these announcements, the company's shares have moved 0.2% on the market, and are now trading at a price of $157.55. For more information, read the company's full 8-K submission here.
