Business Segments · Fee Related Earnings
Private Equity — Fee Related Earnings
Blackstone Private Equity — Fee Related Earnings decreased by 0.6% to $488.56M in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 52.3%, from $1.03B to $488.56M. Over 4 years (FY 2021 to FY 2025), Private Equity — Fee Related Earnings shows an upward trend with a 18.6% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
StatementSegment
CategoryProfitability
SignalHigher is better
VolatilityModerate
First reportedQ1 2016
Last reportedQ4 2025
How to read this metric
Higher values indicate a stronger, more stable core business that is less dependent on market volatility.
Detailed definition
Measures the recurring profitability of the private equity segment derived from management and advisory fees, net of rel...
Peer comparison
Standard metric across the alternative asset management industry to measure core fee-based profitability.
Metric ID:
bx_segment_private_equity_fee_related_earningsHistorical Data
19 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $195.47M | $224.33M | $313.17M | $187.55M | $202.00M | $268.63M | $290.54M | $226.70M | $260.99M | $252.27M | $256.00M | $231.89M | $278.05M | $292.97M | $1.03B | $376.48M | $519.40M | $491.38M | $488.56M |
| QoQ Change | — | +14.8% | +39.6% | -40.1% | +7.7% | +33.0% | +8.2% | -22.0% | +15.1% | -3.3% | +1.5% | -9.4% | +19.9% | +5.4% | +250.0% | -63.3% | +38.0% | -5.4% | -0.6% |
| YoY Change | — | — | — | — | +3.3% | +19.7% | -7.2% | +20.9% | +29.2% | -6.1% | -11.9% | +2.3% | +6.5% | +16.1% | +300.5% | +62.4% | +86.8% | +67.7% | -52.3% |
Range$187.55M – $1.03B
CAGR+22.6%
Avg YoY Growth+35.9%
Median YoY Growth+16.1%
Current Streak2 quarters decline
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Frequently Asked Questions
- What is Blackstone's private equity — fee related earnings?
- Blackstone (BX) reported private equity — fee related earnings of $488.56M in Q4 2025.
- How has Blackstone's private equity — fee related earnings changed year-over-year?
- Blackstone's private equity — fee related earnings decreased by 52.3% year-over-year, from $1.03B to $488.56M.
- What is the long-term trend for Blackstone's private equity — fee related earnings?
- Over 4 years (2021 to 2025), Blackstone's private equity — fee related earnings has grown at a 18.6% compound annual growth rate (CAGR), from $947.77M to $1.88B.
- What does private equity — fee related earnings mean?
- The core recurring profit generated by the private equity segment from management fees after deducting operating expenses.