Private Equity — Fee Related Compensation
Blackstone Private Equity — Fee Related Compensation increased by 11.8% to $259.29M in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 61.9%, from $679.72M to $259.29M. Over 4 years (FY 2021 to FY 2025), Private Equity — Fee Related Compensation shows an upward trend with a 9.7% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
How to read this metric
An increase relative to revenue may suggest rising costs or investment in talent, while a decrease relative to revenue indicates improved operating leverage.
Detailed definition
The portion of compensation expenses directly attributable to the management and advisory activities of the private equi...
Peer comparison
Comparable to 'Compensation and Benefits' expenses at other financial services firms.
bx_segment_private_equity_fee_related_compensationHistorical Data
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $136.77M | $139.21M | $246.25M | $151.05M | $152.62M | $142.38M | $129.14M | $161.63M | $155.68M | $145.99M | $132.38M | $157.39M | $158.07M | $169.06M | $679.72M | $203.32M | $266.93M | $231.92M | $259.29M |
| QoQ Change | — | +1.8% | +76.9% | -38.7% | +1.0% | -6.7% | -9.3% | +25.2% | -3.7% | -6.2% | -9.3% | +18.9% | +0.4% | +7.0% | +302.1% | -70.1% | +31.3% | -13.1% | +11.8% |
| YoY Change | — | — | — | — | +11.6% | +2.3% | -47.6% | +7.0% | +2.0% | +2.5% | +2.5% | -2.6% | +1.5% | +15.8% | +413.5% | +29.2% | +68.9% | +37.2% | -61.9% |
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Frequently Asked Questions
- What is Blackstone's private equity — fee related compensation?
- Blackstone (BX) reported private equity — fee related compensation of $259.29M in Q4 2025.
- How has Blackstone's private equity — fee related compensation changed year-over-year?
- Blackstone's private equity — fee related compensation decreased by 61.9% year-over-year, from $679.72M to $259.29M.
- What is the long-term trend for Blackstone's private equity — fee related compensation?
- Over 4 years (2021 to 2025), Blackstone's private equity — fee related compensation has grown at a 9.7% compound annual growth rate (CAGR), from $662.82M to $961.45M.
- What does private equity — fee related compensation mean?
- Compensation costs related to managing the private equity business.