Wednesday, 25 November 2015
Last updated 2 hours ago
Jan 31 2014 | 1:04pm ET
The Blackstone Group enjoyed its best quarter since going public, earning $621.3 million in the fourth quarter.
The profit is nearly six times that Blackstone posted in the year-earlier period.
The private-equity giant also reported economic net income of $1.54 billion, more than twice the $670 million it enjoyed in the fourth quarter of 2012. That number easily topped analysts' expectations.
Real estate—the fiefdom of Jonathan Gray, according to The Wall Street Journal the firm's likely future leader—did best, nearly tripling its returns. Private-equity profits rose 82% and hedge fund profits 63%. Blackstone's credit and financial advisory businesses also posted profits, albeit slightly lower than in the year-earlier period.
Blackstone said it would pay a 58-cent dividend, its largest ever.
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…