Nov 12 2007 | 10:36am ET
The Blackstone Group swung to a third-quarter loss after taking a big charge relating to its initial public offering this summer.
Overall, revenue grew 14% to $526.7 million, as three of its four divisions enjoyed revenue spikes, but an $802.6 million non-cash charge—due to compensation costs from IPO unit awards, as well as amortization of intangibles—sent the private equity giant to a $113.2 million loss in the quarter. The company said it made a $372.5 million profit in the year-ago period, when it was still a private concern.
Feb 3 2014 | 9:27am ET
In recognition of his extraordinary dedication to philanthropy, Marathon Asset Management’s Bruce Richards will be presented with the Award for Caring during the 16th Annual New York Open Your Heart to the Children Benefit, which takes place on Thursday, March 6. The gala, the largest gathering that Hedge Funds Care/Help For Children holds worldwide, will bring together 1,000 hedge fund executives to raise funds to help prevent and treat child abuse in New York, New Jersey and Connecticut. Read more…