Sunday, 29 November 2015
Last updated 1 day ago
Jul 22 2010 | 1:46pm ET
The Blackstone Group posted sharp increases in both its net loss and its adjusted profit in the second quarter, as fee-earning assets increased and performance fee revenue decreased.
The New York-based private equity giant said its quarterly loss grew by 17% to $193.3 million, even as revenue grew 35% to $552.3 million. But Blackstone said its adjusted profit—which excludes some costs from its initial public offering—rose to $205 million.
“While adverse global securities markets performance had a negative impact on performance fees in the second quarter, we continue to see signs of improvement in the fundamentals across our portfolio, which benefited the carrying values of investments in Blackstone funds particularly in real estate,” Stephen Schwarzman, CEO, said.
Fee-earning assets at the firm rose 8.5% to $101.4 million. But revenues from its private equity business fell by more than half to $83.9 million, while its real-estate group swung to $208.5 million in revenue after losing $18.9 million last year.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…