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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. 1 thing they're looking for as a selected manager is proprietary differentiated dealflow.
And there is an additional $50 billion in prospective future development pipeline. One of the advantages of Blackstone is just our scale and the amount of dealflow we see across all these different areas. And when that happens, we'll get these unrealized performancefees that happen on a regular basis.
Although cash remains an attractive safe haven with the prospect of fewer rate cuts for 2024, the nearly 30% increase in equities over the last year continues to propel clients toward rerisking into stocks and bonds. Clients choose BlackRock for performance. This was mainly due to the relative outperformance of lower fee U.S.
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. Operating income of 6.6 billion declined 2% from 2022, while earnings per share of $37.77 increased by 7%.
and our prospects are very strong. We continue to be optimistic about our prospects in the vast and underpenetrated private wealth channel, given our performance, the investment we've made in distribution, and our highly differentiated brand. Blackstone is an extraordinary place. And with that, I'll throw the ball over to Jon?
And as BIP has continued to scale, it has in turn enhanced the firm's intellectual capital, relationships, and dealflow, supporting our growth in other areas, including our $90 billion infrastructure and asset-based credit platform, our infrastructure Secondaries business and our dedicated energy and energy transition focused funds.
Our portfolio today consists of $55 billion of data centers, including facilities under construction, along with over $70 billion in prospective pipeline development. Blackstone is positioning itself to be the largest financial investor in AI infrastructure in the world as a result of our platform, capital and expertise.
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