Monday, 1 September 2014
Last updated 3 days ago
Apr 21 2011 | 10:08am ET
Private equity giant the Blackstone Group said its first-quarter profit soared 58%.
The New York-based firm posted a profit—excluding some costs tied to its 2007 initial public offering—of $568.1 million, up from $360.4 million. The number topped analysts' estimates by 10 cents per share.
"Blackstone reported our strongest quarterly earnings since becoming a public company four years ago, as the values of all of our funds continued to increase," CEO Stephen Schwarzman said. "Every one of our investing businesses grew sharply year-over-year."
The results mark a milestone for Blackstone: its first profit under generally accepted accounting principles since its IPO. The firm's net income swung to $42.7 million from a net loss of $121.4 million a year earlier.
Blackstone credited the boost to its real-estate and private equity investments. The former saw an almost four-fold increase in revenue to $555.6 million, while the latter saw revenue drop slightly but valuation rise some 5%.
Blackstone's hedge fund revenue also rose, to $105.4 million.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...