Operating Expenses
Incentive Fee Expense
Blackstone Incentive Fee Expense decreased by 38.7% to $54.37M in Q1 2026 compared to the prior quarter. Year-over-year, this metric declined by 4.7%, from $57.03M to $54.37M. Over 4 years (FY 2021 to FY 2025), Incentive Fee Expense shows an upward trend with a 29.4% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
StatementIncome Statement
SectionOperating Expenses
CategoryEfficiency
SignalLower is better
VolatilityVolatile
First reportedQ1 2016
Last reportedQ1 2026May 8, 2026
How to read this metric
Higher values are generally expected when performance fees are high, indicating a successful alignment of incentives.
Detailed definition
Reflects the variable compensation expenses paid to employees or third parties tied to the performance of specific funds...
Peer comparison
Standard for asset managers; peers report this as 'incentive compensation' or 'performance-related compensation'.
Metric ID:
operating_expenses_incentive_fee_expenseHistorical Data
20 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $14.43M | $21.01M | $49.35M | $41.02M | $45.36M | $50.36M | $71.26M | $63.28M | $64.23M | $65.43M | $88.13M | $73.71M | $77.14M | $73.46M | $149.28M | $57.03M | $67.36M | $61.88M | $88.63M | $54.37M |
| QoQ Change | — | +45.6% | +134.9% | -16.9% | +10.6% | +11.0% | +41.5% | -11.2% | +1.5% | +1.9% | +34.7% | -16.4% | +4.7% | -4.8% | +103.2% | -61.8% | +18.1% | -8.1% | +43.2% | -38.7% |
| YoY Change | — | — | — | — | +214.3% | +139.7% | +44.4% | +54.3% | +41.6% | +29.9% | +23.7% | +16.5% | +20.1% | +12.3% | +69.4% | -22.6% | -12.7% | -15.8% | -40.6% | -4.7% |
Range$14.43M – $149.28M
CAGR+32.2%
Avg YoY Growth+35.6%
Median YoY Growth+21.9%
Incentive Fee Expense at Other Companies
Frequently Asked Questions
- What is Blackstone's incentive fee expense?
- Blackstone (BX) reported incentive fee expense of $54.37M in Q1 2026.
- How has Blackstone's incentive fee expense changed year-over-year?
- Blackstone's incentive fee expense decreased by 4.7% year-over-year, from $57.03M to $54.37M.
- What is the long-term trend for Blackstone's incentive fee expense?
- Over 4 years (2021 to 2025), Blackstone's incentive fee expense has grown at a 29.4% compound annual growth rate (CAGR), from $98.11M to $274.90M.
- What does incentive fee expense mean?
- Variable compensation costs linked to investment performance.