Performance Watch: How Blackstone’s PE vehicles fared in Q2 2020

We examine Blackstone‘s private equity funds in the return of a special series of PEI‘s Performance Watch, which compares the firm’s Q2 2020 figures with those from the prior two quarters.

The latest quarterly reporting from private equity’s listed giants sheds light on how the asset class is recovering from pandemic-related turmoil last quarter.

We examine Blackstone’s private equity funds in another instalment of Private Equity International’s Performance Watch, which compares the firm’s Q2 2020 figures with those from the prior two quarters.

The New York-headquartered firm’s corporate private equity business appreciated 12.8 percent in the second quarter due to strong public markets performance and a partial recovery in the private portfolio, with its technology, consumer finance and midstream holdings enjoying the largest gains, according to its latest earnings.

“The valuations of our investments rebounded strongly from the unrealised marks experienced in the first quarter which, as we said at the time, represented a point-in-time valuation and not the ultimate outcome we expect to achieve,” co-founder and chairman Stephen Schwarzman said on the firm’s July earnings call.

“In private equity, credit and hedge fund solutions our returns have already retraced much of those declines.”

The interactive charts below depict five 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.