Blackstone’s Hedge Fund Solutions Revenue Falls

In 1Q18, The Blackstone Group’s (BX) Hedge Fund Solutions saw an inflow to its total AUM (assets under management) of $3.9 billion. During the same period, the BPS Composite witnessed a 1.3% gross return and a 1.1% net return amid market fluctuation. Hedge Fund Solutions’ total revenue fell 23% YoY (year-over-year) to $140.4 million from $182.2 million, and its principal investment income fell 94% YoY to $1 million from $17.6 million. The division’s performance revenue also fell YoY, to $15.2 million from $33.4 million.