Blackstone Profit Soars On Real Estate, Alternative Investment Funds

Jan 31 2014 | 2:04pm 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.

In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...


CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...


FINalternatives Trending

From the current issue of