The total revenue for the fourth quarter of 2011 decreased 16% to $915.1m, compared to $1.08bn for the same period a year ago.
Performance fees decreased 21% to $358.1m for the fourth quarter of 2011 while management and advisory fees increased 3.1% to $475.8m.
Blackstone chairman and CEO Stephen Schwarzman said that despite volatile markets and struggling economies, Blackstone had strong performance in 2011. The company’s investors view the firm as a critical partner, helping them protect and grow their capital.
"We again reported net inflows in every one of our businesses with record fee-earning assets under management of $137 billion at year end, up 25% year over year," added Schwarzman.
