Thursday, 2 October 2014
Last updated 14 hours ago
Feb 3 2011 | 2:02pm ET
The Blackstone Group said its fourth-quarter profits rose more than 50%, the seventh-straight quarter in which the world's largest private-equity firm has posted a year-on-year gain.
The New York-based firm said it earned $512.7 million, excluding some initial public offering costs, in the three months ended Dec. 31. That's 56% more than it earned in the fourth quarter of 2009, when it made $329.4 million.
Blackstone credited the success of its real-estate investments for much of the jump, although its private equity funds also made gains. Blackstone is set to raise its seventh real-estate fund this year, seeking about $10 billion.
Blackstone's net loss—which does include the IPO charges—was just $11 million in the fourth quarter, down from $143.3 million in the previous fourth-quarter.
The firm's assets under management rose almost 14% year-on-year to $109.5 billion; real-estate assets made up about one-quarter of that total. Deal-making volume more than doubled last year to $11.85 billion, up from $5.66 billion.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...