Performance watch: How Blackstone’s PE vehicles fared in Q1

We examine the investment giant's private equity funds – the first in a special series looking at quarter-on-quarter performance amid the downturn.

The latest quarterly reporting from private equity’s listed giants offers a window into how the market has fared against coronavirus turmoil and a rout in oil prices.

We examine Blackstone‘s private equity funds first in a special series of Private Equity International‘s Performance Watch, which compares the firm’s first quarter 2020 figures with those from the prior three months.

Blackstone’s corporate private equity declined 21.6 percent in Q1, according to its most recent earnings. Excluding energy, the portfolio declined 11.1 percent in the period.

“The impact of covid on companies and their outlook has been broad-based across the overall economy as well as our portfolios, but energy was by far the largest detractor in both of these strategies, as the unprecedented confluence of supply and demand shocks has created a historic dislocation in the energy markets,” chief financial officer Michael Chae said on a 23 April earnings call.

The interactive charts below depict four of the firm’s private equity fund families based on its two previous quarterly earnings reports. The bubbles are sized proportionately to the size of the fund; toggle between the tabs to see how their performance differed between quarters.