We conclude the presentation of a semianalytical model of hierarchical
clustering of bound virialized objects formed by gravitational instab
ility from a random Gaussian field of density fluctuations. In the fir
st paper of this series, we introduced the basic tool, the so-called c
onfluent system formalism, able to follow the evolution of bound viria
lized objects in the peak model. This was applied to derive the mass f
unction of objects. In the present paper, we calculate other important
quantities that characterize the growth history of objects. This mode
l is compared with a similar one obtained by Lacey St. Cole following
the Press-Schechter approach. The interest of the new modeling present
ed here is twofold: (1) it is formally better justified, as far as pea
ks are more reasonable seeds of objects than the undetermined regions
in the Press-Schechter prescription, and (2) it distinguishes between
merger and accretion, enabling us to unambiguously define the formatio
n and destruction of objects and to estimate growth rates and characte
ristic rimes not available in the previous approach.