Real Estate — Fee Related Compensation
Blackstone Real Estate — Fee Related Compensation increased by 7.6% to $181.18M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 21.3%, from $149.43M to $181.18M. Over 4 years (FY 2021 to FY 2025), Real Estate — Fee Related Compensation shows a downward trend with a -12.2% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
How to read this metric
An increase may indicate higher headcount or incentive costs to support growth, while a decrease could signal cost-cutting or reduced staffing needs.
Detailed definition
This represents the portion of compensation expenses directly attributable to the Real Estate segment's fee-earning acti...
Peer comparison
Similar to compensation and benefits expense ratios found in other alternative asset managers' segment reporting.
bx_segment_real_estate_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 | $121.96M | $137.31M | $713.59M | $344.84M | $273.89M | $239.57M | $180.82M | $137.61M | $199.01M | $199.38M | $139.88M | $174.57M | $184.40M | $166.57M | $149.43M | $170.53M | $170.21M | $168.38M | $181.18M |
| QoQ Change | — | +12.6% | +419.7% | -51.7% | -20.6% | -12.5% | -24.5% | -23.9% | +44.6% | +0.2% | -29.8% | +24.8% | +5.6% | -9.7% | -10.3% | +14.1% | -0.2% | -1.1% | +7.6% |
| YoY Change | — | — | — | — | +124.6% | +74.5% | -74.7% | -60.1% | -27.3% | -16.8% | -22.6% | +26.9% | -7.3% | -16.5% | +6.8% | -2.3% | -7.7% | +1.1% | +21.3% |
Similar Metrics at Other Companies
Frequently Asked Questions
- What is Blackstone's real estate — fee related compensation?
- Blackstone (BX) reported real estate — fee related compensation of $181.18M in Q4 2025.
- How has Blackstone's real estate — fee related compensation changed year-over-year?
- Blackstone's real estate — fee related compensation increased by 21.3% year-over-year, from $149.43M to $181.18M.
- What is the long-term trend for Blackstone's real estate — fee related compensation?
- Over 4 years (2021 to 2025), Blackstone's real estate — fee related compensation has grown at a -12.2% compound annual growth rate (CAGR), from $1.16B to $690.29M.
- What does real estate — fee related compensation mean?
- The total compensation costs associated with managing the real estate investment segment.