This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Finally, the firm intends to increase the percentage of earnings its shareholders receive from base management fees, which it says will create a predictable earnings stream for public shareholders to value, accompanied by the transfer of performancefees to its dealmakers.
I would suggest that the gauges measuring our total net investments, our underwriting and insurance earnings, our Markel Ventures earnings, and our recurring investment earnings would be the measurements that I, as your pilot and you as fellow shareholders should be monitoring. Net income to common shareholders was $2.2
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. And we again delivered strong margin for our shareholders. government money market funds.
billion declined 2% from 2022, while earnings per share of $37.77 billion was 7% higher year over year, driven by the impact of higher markets on average AUM and higher performancefees. increased by 40 basis points year on year as we continue to drive operating leverage and profitable growth after the market shock of 2022.
Successful execution of these goals should also result in multiple expansion for our shareholders. We expect these private market assets to positively impact BlackRock's overall effective fee rate by 0.5 2024 net inflows have already surpassed the full-year net inflows of both 2022 and 2023. trillion, 11.5 to 1 full basis point.
We completed the previously announced acquisition of the Management Contract of Great Ajax, which was a residential mortgage REIT, which is now we're going to transition that into an opportunistic commercial mortgage REIT, which will help generate fee-related earnings for shareholders as we reposition the company and grow it.
Operator instructions] At this time, I'd like to turn the conference over to Weston Tucker, head of shareholder relations. Weston Tucker -- Head of Shareholder Relations Thanks, Katie, and good morning, and welcome to Blackstone's first-quarter conference call. Today's conference is being recorded. Please go ahead.
Tonight, I'll go through the headline results for the quarter and update you on our three pillars of shareholder value creation before handing it to John to speak more about financials and outlook. Turning now to our three pillars of shareholder value creation. Blackley -- Co-Founder, Chief Executive Officer, and Director Good evening.
AirTrunk founder and chief executive Robin Khuda will retain a stake, the statement said, without specifying the size of his remaining shareholding. The deal triggers a large performancefee for ASX-listed Macquarie Group, which manages the fund. The fee is expected to be worth hundreds of millions of dollars.
And they also have a unique approach to feeds when they’re generating alpha, when they’re outperforming their benchmark, they take a performancefee. And when they’re not generating alpha, when they’re underperforming, they actually return fees. 00:24:31 [Speaker Changed] We refund the fee.
RITHOLTZ: I forgot to mention, you have received the Chevalier dans l’Ordre de la Légion d’Honneur by the president of the French Republic in January 2022. And all our historical backers, shareholders, they actually kept on supporting the business. MATHIEU CHABRAN, CO-FOUNDER, TIKEHAU CAPITAL: Thank you, Barry.
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%.
Operator instructions] At this time, I'd like to turn the conference over to Weston Tucker, head of shareholder relations. Weston Tucker -- Head of Shareholder Relations Great. Against this backdrop, Blackstone generated steady fee-related earnings of $4.3 BCRED had its best month since May 2022, raising $1.1
Operator instructions] At this time, I'd like to turn the conference over to Weston Tucker, head of shareholder relations. Weston Tucker -- Head of Shareholder Relations Great. Even through this period, Blackstone real estate has delivered differentiated performance. Today's call is being recorded. Please go ahead.
Operator instructions] At this time, I'd like to turn the conference over to Weston Tucker, head of shareholder relations. Weston Tucker -- Head of Shareholder Relations Great. We've seen a decline from 3%-plus new supply starts back in 2022 in logistics and rental housing, our biggest areas. Today's call is being recorded.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content