Sunday, 24 May 2015
Last updated 1 day 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.
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…