Investments (Tables)

9 Months Ended

Sep. 30, 2012

Investments

Investments

Investments consist of the following:

	September 30, 2012		December 31, 2011
Investments of Consolidated Blackstone Funds	$	14,323,698	$	10,306,795
Equity Method Investments		2,430,452		2,218,103
Blackstone’s Treasury Cash Management Strategies		1,290,512		685,859
Performance Fees		2,689,680		1,889,152
Other Investments		32,358		28,390
	$	20,766,700	$	15,128,299

Realized and Net Change in Unrealized Gains (Losses) on Investments

The following table presents the realized and net change in unrealized gains (losses) on investments held by the consolidated Blackstone Funds:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
Realized Gains (Losses)	$	6,162		$	121,297		$	(4,279	)	$	228,052
Net Change in Unrealized Gains (Losses)		(152,801	)		(496,696	)		235,368			(774,527	)
	$	(146,639	)	$	(375,399	)	$	231,089		$	(546,475	)

Reconciliation of Realized and Net Change in Unrealized Gains (Losses) to Other Income (Loss) - Net Gains (Losses) from Fund Investment Activities in Condensed Consolidated Statements of Operations

The following reconciles the Realized and Net Change in Unrealized Gains (Losses) from Blackstone Funds presented above to Other Income (Loss) — Net Gains (Losses) from Fund Investment Activities in the Condensed Consolidated Statements of Operations:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012		2011
Realized and Net Change in Unrealized Gains (Losses) from Blackstone Funds	$	(146,639	)	$	(375,399	)	$	231,089	$	(546,475	)
Interest and Dividend Revenue Attributable to Consolidated Blackstone Funds		10,679			46,000			169,323		97,231
Other Income (Loss) — Net Gains (Losses) from Fund Investment Activities	$	(135,960	)	$	(329,399	)	$	400,412	$	(449,244	)

Summarized Financial Information of Partnership's Equity Method Investments

The summarized financial information for this investment is shown below for the nine months ended September 30, 2012 and 2011:

	Nine Months Ended September 30,
	2012			2011
Statements of Income
Interest Income	$	—		$	251
Other Income		21,860			34,401
Interest Expense		(112	)		(315	)
Other Expenses		(1,812	)		(1,410	)
Net Realized and Unrealized Gain from Investments		440,531			537,432
Net Income	$	460,467		$	570,359

Realized and Net Change in Unrealized Gains (Losses) on Investments Held by Blackstone's Treasury Cash Management Strategies

The following table presents the realized and net change in unrealized gains (losses) on investments held by Blackstone’s Treasury cash management strategies:

	Three Months Ended September 30,					Nine Months Ended September 30,
	2012		2011			2012		2011
Realized Gains	$	3,228	$	6,002		$	3,238	$	7,022
Net Change in Unrealized Gains (Losses)		6,525		(746	)		7,351		1,475
	$	9,753	$	5,256		$	10,589	$	8,497

Performance Fees Allocated to Funds

Performance Fees allocated to the general partner in respect of performance of certain Carry Funds, funds of hedge funds and credit-oriented funds were as follows:

	Private Equity			Real Estate			Hedge Fund Solutions			Credit			Total
Performance Fees, December 31, 2011	$	620,359		$	943,859		$	1,858		$	323,076		$	1,889,152
Performance Fees Allocated as a Result of Changes in Fund Fair Values		141,008			651,294			20,793			216,838			1,029,933
Foreign Exchange Gain		—			1,219			—			—			1,219
Fund Cash Distributions		(63,132	)		(85,718	)		(3,843	)		(77,931	)		(230,624	)
Performance Fees, September 30, 2012	$	698,235		$	1,510,654		$	18,808		$	461,983		$	2,689,680

Realized and Net Change in Unrealized Gains (Losses), Other Investments

The following table presents Blackstone’s realized and net change in unrealized gains (losses) in other investments:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
Realized Gains	$	111		$	421		$	907		$	820
Net Change in Unrealized Gains (Losses)		(912	)		(22,292	)		(722	)		(21,000	)
	$	(801	)	$	(21,871	)	$	185		$	(20,180	)