DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2018

Summary of Aggregate Notional Amount and Fair Value of Derivative Financial Instruments

The table below summarizes the aggregate notional amount and fair value of the derivative financial instruments. The notional amount represents the absolute value amount of all outstanding derivative contracts.

	June 30, 2018								December 31, 2017
	Assets				Liabilities				Assets				Liabilities
	Notional		Fair Value		Notional		Fair Value		Notional		Fair Value		Notional		Fair Value
Net Investment Hedges
Foreign Currency Contracts	$	—	$	—	$	—	$	—	$	—	$	—	$	50,857	$	453
Freestanding Derivatives
Blackstone
Interest Rate Contracts		944,822		22,123		922,672		48,711		225,550		2,042		1,530,751		27,275
Foreign Currency Contracts		198,028		782		98,298		570		279,050		2,097		296,252		2,975
Credit Default Swaps		5,001		125		20,532		2,168		2,073		304		2,073		304
Investments of Consolidated Blackstone Funds
Foreign Currency Contracts		114,194		5,295		11,099		1,087		493,181		24,087		264,693		5,628
Credit Default Swaps		32,306		1,565		50,056		4,839		45,670		3,731		45,582		5,163
Total Return Swaps		25,325		488		—		—		25,645		526		—		—
		1,319,676		30,378		1,102,657		57,375		1,071,169		32,787		2,139,351		41,345
	$	1,319,676	$	30,378	$	1,102,657	$	57,375	$	1,071,169	$	32,787	$	2,190,208	$	41,798

Summary of Impact of Derivative Financial Instruments to Consolidated Statements of Operations

The table below summarizes the impact to the Condensed Consolidated Statements of Operations from derivative financial instruments:

	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
Net Investment Hedges — Foreign Currency Contracts
Hedge Ineffectiveness	$	—		$	(13	)	$	(8	)	$	(35	)
Freestanding Derivatives
Realized Gains (Losses)
Interest Rate Contracts	$	449		$	(3,007	)	$	2,070		$	(3,947	)
Foreign Currency Contracts		12,321			(6,663	)		8,238			(3,312	)
Credit Default Swaps		(107	)		268			(508	)		(1,658	)
Total Return Swaps		173			—			174			—
	$	12,836		$	(9,402	)	$	9,974		$	(8,917	)
Net Change in Unrealized Gains (Losses)
Interest Rate Contracts	$	37,261		$	(426	)	$	(39	)	$	(643	)
Foreign Currency Contracts		1,456			14,642			(2,272	)		12,682
Credit Default Swaps		615			1,214			488			3,161
Total Return Swaps		(5	)		—			52			—
	$	39,327		$	15,430		$	(1,771	)	$	15,200