Earnings
'Big four' PE firms notch records in Q3
November 2, 2021
The four largest publicly traded private equity firms saw a lucrative third quarter, breaking individual records and bringing in unprecedented amounts of money.
KKR, which released its Q3 earnings report Tuesday, saw its private equity portfolio climb 9% in the quarter, while bringing in over $1.1 billion in net income. Its distributable earnings, or the money that the firm can return to shareholders, hit $925 million, up 104% year-over-year.
Apollo Global Management, which also held its earnings call Tuesday, saw its distributable earnings hit a record high of $752 million, despite its net income falling to $249 million in the quarter compared with $263 million in Q3 2020.
The Carlyle Group, which released its earnings Oct. 28, saw its net income rise over 80% to nearly $533 million in the third quarter versus the same period the previous year, and its total assets under management climbed 19% to $293 billion YTD.
The Washington, DC-based firm saw its distributable earnings hit an all-time high of $731 million, nearly a fourfold increase over last year's figure of $152 million through the third quarter.
Blackstone, which released its Q3 earnings late last month, saw its total AUM increase to over $730 billion, a 25% increase YoY, and had a private equity inflow of over $7.4 billion in the third quarter. The firm nearly doubled its net income in Q3, taking in $1.4 billion.
Blackstone's real estate AUM increased 32% to $230 billion. The firm saw a real estate inflow of $16 billion, including the $5.65 billion sale of The Cosmopolitan Hotel in Las Vegas—Blackstone's most profitable real estate deal ever.
Featured image by simonlong/Getty Images
KKR, which released its Q3 earnings report Tuesday, saw its private equity portfolio climb 9% in the quarter, while bringing in over $1.1 billion in net income. Its distributable earnings, or the money that the firm can return to shareholders, hit $925 million, up 104% year-over-year.
Apollo Global Management, which also held its earnings call Tuesday, saw its distributable earnings hit a record high of $752 million, despite its net income falling to $249 million in the quarter compared with $263 million in Q3 2020.
The Carlyle Group, which released its earnings Oct. 28, saw its net income rise over 80% to nearly $533 million in the third quarter versus the same period the previous year, and its total assets under management climbed 19% to $293 billion YTD.
The Washington, DC-based firm saw its distributable earnings hit an all-time high of $731 million, nearly a fourfold increase over last year's figure of $152 million through the third quarter.
Blackstone, which released its Q3 earnings late last month, saw its total AUM increase to over $730 billion, a 25% increase YoY, and had a private equity inflow of over $7.4 billion in the third quarter. The firm nearly doubled its net income in Q3, taking in $1.4 billion.
Blackstone's real estate AUM increased 32% to $230 billion. The firm saw a real estate inflow of $16 billion, including the $5.65 billion sale of The Cosmopolitan Hotel in Las Vegas—Blackstone's most profitable real estate deal ever.
Featured image by simonlong/Getty Images
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