Monday, 29 December 2014
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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.