Sunday, 29 March 2015
Last updated 1 day ago
Feb 2 2012 | 11:00am ET
The Blackstone Group said today its fourth-quarter profit dropped by 12%.
The private-equity giant's economic net income fell to $449.9 million from $512.7 million. The per-share return was in line with analysts' estimates.
For the full year, Blackstone's net income increased marginally to $1.584 billion.
"Despite volatile markets and struggling economies, Blackstone had strong performance in 2011," CEO Stephen Schwarzman said. "Our investors view us as a critical partner, helping them protect and grow their capital. We again reported net inflows in every one of our businesses with record fee-earning assets under management of $137 billion at year end, up 25% year over year."
Most of that increase came in Blackstone's private equity funds, whose assets rose from $24.2 billion to $37.2 billion. Hedge fund assets increased 14%, to $37.8 billion. Management fees consequently rose 15% year-on-year and performance fees 27%.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…