INVESTMENTS (Tables)

3 Months Ended

Mar. 31, 2018

Investments

Investments consist of the following:

	March 31, 2018		December 31, 2017
Investments of Consolidated Blackstone Funds	$	7,560,831	$	12,954,121
Equity Method Investments
Partnership Investments		3,511,982		3,263,131
Accrued Performance Allocations		5,914,150		5,328,280
Corporate Treasury Investments		2,449,863		2,566,043
Other Investments		326,737		322,474
	$	19,763,563	$	24,434,049

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

The following table presents the Realized and Net Change in Unrealized Gains (Losses) on investments held by the consolidated Blackstone Funds and a reconciliation to Other Income — Net Gains from Fund Investment Activities in the Condensed Consolidated Statements of Operations:

	Three Months Ended March 31,
	2018			2017
Realized Gains (Losses)	$	(17,858	)	$	55,908
Net Change in Unrealized Gains (Losses)		97,241			(28,522	)
Realized and Net Change in Unrealized Gains from Consolidated Blackstone Funds		79,383			27,386
Interest and Dividend Revenue Attributable to Consolidated Blackstone Funds		31,216			38,746
Other Income — Net Gains from Fund Investment Activities	$	110,599		$	66,132

Performance Fees Allocated to Funds

Accrued Performance Allocations to the Partnership in respect of performance of certain Blackstone Funds were as follows:

	Private			Real			Hedge Fund
	Equity			Estate			Solutions			Credit			Total
Accrued Performance Allocations, December 31, 2017	$	1,916,971		$	2,859,307		$	13,802		$	538,200		$	5,328,280
Performance Allocations as a Result of Changes in Fund Fair Values		474,439			357,680			7,072			38,724			877,915
Foreign Exchange Gain		—			19,814			—			—			19,814
Fund Distributions		(76,203	)		(168,717	)		(5,977	)		(60,962	)		(311,859	)
Accrued Performance Allocations, March 31, 2018	$	2,315,207		$	3,068,084		$	14,897		$	515,962		$	5,914,150

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

The following table presents the Realized and Net Change in Unrealized Gains (Losses) on these investments:

	Three Months Ended March 31,
	2018			2017
Realized Gains (Losses)	$	2,339		$	(5,681	)
Net Change in Unrealized Gains (Losses)		(8,194	)		30,480
	$(5,855)			$24,799

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 March 31,
	2018			2017
Realized Gains	$	112		$	5
Net Change in Unrealized Gains (Losses)		(4,232	)		5,488
	$	(4,120	)	$	5,493