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Most of the repurchase activity took place starting in 2022, and it continues through this day. general liability and professional liability product lines during 2022 and 2023, we took action, including both adding reserves on older accident years given experience and increasing the margin of safety applied on more recent accident years.
On an equivalent day count basis, our annualized effective fee rate was 0.2 Performancefees of 118 million increased from a year ago, primarily reflecting higher revenue from illiquid alternatives. We talked to you about adding nearly $2 billion of base and performancefees in 2022. We obviously had a 42.5%
Sean Klimczak, global head of Blackstone Infrastructure and Nadeem Meghji, global co-head of Blackstone Real Estate, said: “Prior to AirTrunk, Blackstone’s portfolio consisted of US$55bn (€49.8bn) of data centres including facilities under construction, along with over US$70bn in prospective pipeline development.”
Our other existing and new contracts are also performing at or above expectations, contributing to high confidence in the remainder of 2023. over the same period of 2022. I would note, we spent time at the Investor Day focused on performancefee margin ramp, and that margin maturation is continuing to perform as expected.
And there is an additional $50 billion in prospective future development pipeline. As you think about the momentum in the business that you highlighted and the prospects for growth and growth in AUM, how are you thinking about margins as you think about the rest of the year? The first quarter was flat with last year.
Genesis Capital, just to give you a sense on that business, we acquired that in December, I believe of 2022. EBITDA growth in that business since the time that we acquired that is probably up something around -- I think it's up about 50% since we acquired the company in June of 2022. Very excited for the prospects of that business.
The second benefit is an expansion of our product offering for clients and prospects. This claims development represents about 1% of specialty performance suite revenue in 2023 and was consistent with our expectations. Just going back to the performancefee margin ramp, you said 12% to 18% is possible there as those mature.
with net assets of $570 billion, compared to $539 billion at the end of fiscal 2022: Highlights 1 : Fiscal 2023 net return of 1.3% with net assets of $570 billion, compared to $539 billion at the end of fiscal 2022: Highlights 1 : Fiscal 2023 net return of 1.3% million last year – $4.6 10-year net return of 10.0%
I know I speak for the entire BlackRock board of directors, BlackRock's leadership team, and all of our employees when I say we could not be more excited about the prospects of the BlackRock family with our colleagues from GIP. billion declined 2% from 2022, while earnings per share of $37.77 Full year revenue of 17.9 increased by 7%.
How much is the prospective market size, as well as how robust local economy is? It’s all about what are this company’s prospects? And that comes from having our capital invested alongside theirs, and having very strict requirements for performance before we get paid performancefees. LAYTON: Yeah.
billion was 23% higher year over year, driven by the impact of higher markets on average AUM and higher performancefees. This is evidenced by this quarter's fee rate increase primarily reflecting the onboarding of higher fee rate private market assets following the GIP closing. Operating income of 8.1 increased 15%.
Most major equity indices rebounded from significant declines in 2022 but with wide intrayear swings driven by historic movements in treasury yields, economic uncertainty, and geopolitical instability. Against this backdrop, Blackstone generated steady fee-related earnings of $4.3 and our prospects are very strong.
Our positioning has never been stronger nor our prospects brighter. economy, historically tight financing spreads, greater debt availability, the prospects of a more business-friendly regulatory climate and importantly, accelerating technological innovations have given us confidence to deploy capital at scale. I will catch it.
Our portfolio today consists of $55 billion of data centers, including facilities under construction, along with over $70 billion in prospective pipeline development. Even through this period, Blackstone real estate has delivered differentiated performance.
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