FORTUNE — The Blackstone Group
this morning reported nearly $1.23 billion in third quarter revenue, coming in just short of most analyst expectations (and exactly in line with some of them).
The investment firm reported $0.56 per unit in economic net income, and that its assets under management reached a record $248 billion (up 21% year-over-year — including double-digit increases across all investing businesses).
Blackstone reported a 44% year-to-date increase in private equity revenue, and that the carrying value of its private equity portfolio climbed by 17.4% (including 4.2% in Q3). The quarterly figures were much rougher — off 54% — due to an effective absence of performance fees. The firm saw a similar performance fee dip (-46%) in its credit business.
Real estate continued to be the firm’s largest business, with $1.8 billion in in year-to-date revenue.
The only area where Blackstone reports softer year-over-year numbers were in its M&A advisory business, although its overall financial advisory business — which includes restructuring and fund placement — was up 17% year-to-date (and 40% for the quarter).
Blackstone had $41.2 billion of “dry powder” (i.e., uninvested AUM) as of Sept. 30., of which $19.2 billion was not yet drawing fees.
Also worth noting that Blackstone reported President Tony James said during a media call that most of Blackstone’s portfolio company CEOs do not think that the “recent showdown in Washington” will have much impact on their businesses. A larger concern is the continued sequester, although James believes that will be offset by economic growth elsewhere (including new construction).
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