Blackstone Profit Soars On Real Estate, Alternative Investment Funds

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.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of