|Company Name:||The Blackstone Group L.P.|
|Event Title: ||Q2 2013 Earnings Call|
|Event Time:||11:00 AM ET|
Welcome to the Blackstone Second Quarter 2013 Investor Call. At this time, I would like to turn the conference over to Joan Solotar, Senior Managing Director, External Relations and Strategies. Please proceed.
Senior Managing Director and Head of External Relations and Strategy
Great, thanks Shantelle. Good morning and happy summer. And welcome to our second quarter 2013 conference call. So, I am joined today by Steve Schwarzman, Chairman and CEO; who is calling in from Europe; Tony James, President and Chief Operating Officer; Laurence Tosi, CFO; and Weston Tucker, Head of Investor Relations.
Earlier this morning, we issued a press release and a slide presentation, illustrating our results. Hopefully you have that and its also available on our website. And we are going to file the 10-Q in a few weeks.
But I'd like to remind you that today's call may include forward-looking statements which are uncertain and outside of the firm's control. Actual results may differ materially. For a discussion of some of the risks that could affect the firm's results, please see the Risk Factor section of our 10-K. And we don't undertake any duty to update forward-looking statements. We will refer to non-GAAP measures on the call and for reconciliations for those, refer to the press release.
I'd also like to remind you that nothing on the call constitutes an offer to sell or solicit as an offer to purchase any interest in Blackstone funds. This audiocast is copyrighted material of Blackstone and may not be duplicated, reproduced or rebroadcast without consent.
So a quick recap of our results. We reported economic net income
or ENI of $0.62 for the second quarter, that's up sharply from $0.19 in the second quarter of last year, mostly driven by higher management fees and higher performance fees in every one of our business.