Business Segments · Base Management Fees
Real Estate — Base Management Fees
Blackstone Real Estate — Base Management Fees decreased by 3.9% to $644.77M in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 3.0%, from $664.76M to $644.77M. Over 4 years (FY 2021 to FY 2025), Real Estate — Base Management Fees shows an upward trend with a 8.8% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
StatementSegment
CategoryProfitability
SignalHigher is better
VolatilityStable
First reportedQ1 2017
Last reportedQ4 2025
How to read this metric
Higher fees indicate a larger, more stable asset base and consistent revenue generation.
Detailed definition
Represents the recurring revenue generated from charging a percentage of assets under management in the real estate segm...
Peer comparison
Standard 'Management Fee' revenue reported by all asset and investment management firms.
Metric ID:
bx_segment_real_estate_base_management_feesHistorical 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 | $453.66M | $485.31M | $529.25M | $580.19M | $611.75M | $610.61M | $659.64M | $705.39M | $709.98M | $697.56M | $681.31M | $694.18M | $685.78M | $672.26M | $664.76M | $664.60M | $673.15M | $670.77M | $644.77M |
| QoQ Change | — | +7.0% | +9.1% | +9.6% | +5.4% | -0.2% | +8.0% | +6.9% | +0.7% | -1.7% | -2.3% | +1.9% | -1.2% | -2.0% | -1.1% | -0.0% | +1.3% | -0.4% | -3.9% |
| YoY Change | — | — | — | — | +34.8% | +25.8% | +24.6% | +21.6% | +16.1% | +14.2% | +3.3% | -1.6% | -3.4% | -3.6% | -2.4% | -4.3% | -1.8% | -0.2% | -3.0% |
Range$453.66M – $709.98M
CAGR+8.1%
Avg YoY Growth+8.0%
Median YoY Growth-0.2%
Current Streak2 quarters decline
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Frequently Asked Questions
- What is Blackstone's real estate — base management fees?
- Blackstone (BX) reported real estate — base management fees of $644.77M in Q4 2025.
- How has Blackstone's real estate — base management fees changed year-over-year?
- Blackstone's real estate — base management fees decreased by 3.0% year-over-year, from $664.76M to $644.77M.
- What is the long-term trend for Blackstone's real estate — base management fees?
- Over 4 years (2021 to 2025), Blackstone's real estate — base management fees has grown at a 8.8% compound annual growth rate (CAGR), from $1.90B to $2.65B.
- What does real estate — base management fees mean?
- Recurring fees earned for managing real estate assets, usually based on a percentage of AUM.