Real Estate — Fee Related Performance Revenues
Blackstone Real Estate — Fee Related Performance Revenues increased by 90.6% to $237.61M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 54774.8%, from $433.00K to $237.61M. Over 4 years (FY 2021 to FY 2025), Real Estate — Fee Related Performance Revenues shows a downward trend with a -26.7% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
How to read this metric
Higher revenues indicate that the funds are consistently hitting performance targets that trigger incentive fees.
Detailed definition
Captures performance-based revenues that are tied to the fee-earning structure rather than traditional carried interest....
Peer comparison
Similar to 'Incentive Fees' or 'Performance-linked Management Fees' in the alternative asset management sector.
bx_segment_real_estate_fee_related_performance_revenuesHistorical 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 | $33.78M | $35.63M | $1.47B | $491.52M | $265.51M | $260.00M | $58.40M | $20.75M | $131.30M | $127.84M | $14.35M | $129.96M | $606.00K | $72.43M | $433.00K | $37.80M | $89.59M | $124.65M | $237.61M |
| QoQ Change | — | +5.5% | >999% | -66.6% | -46.0% | -2.1% | -77.5% | -64.5% | +532.8% | -2.6% | -88.8% | +805.5% | -99.5% | >999% | -99.4% | >999% | +137.0% | +39.1% | +90.6% |
| YoY Change | — | — | — | — | +686.1% | +629.8% | -96.0% | -95.8% | -50.5% | -50.8% | -75.4% | +526.4% | -99.5% | -43.3% | -97.0% | -70.9% | >999% | +72.1% | >999% |
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Frequently Asked Questions
- What is Blackstone's real estate — fee related performance revenues?
- Blackstone (BX) reported real estate — fee related performance revenues of $237.61M in Q4 2025.
- How has Blackstone's real estate — fee related performance revenues changed year-over-year?
- Blackstone's real estate — fee related performance revenues increased by 54774.8% year-over-year, from $433.00K to $237.61M.
- What is the long-term trend for Blackstone's real estate — fee related performance revenues?
- Over 4 years (2021 to 2025), Blackstone's real estate — fee related performance revenues has grown at a -26.7% compound annual growth rate (CAGR), from $1.70B to $489.65M.
- What does real estate — fee related performance revenues mean?
- Performance-based income earned from real estate funds that is structured as a fee.