Thursday, 26 November 2015
Last updated 1 day ago
Mar 3 2009 | 1:55am ET
The Blackstone Group wrote down the value of four out of five private equity funds it manages, according to a letter to investor.
The New York-based p.e. giant, which reported a fourth-quarter loss of $827.1 million last week, did no better by its clients than it did by its investors. Three of the five funds covered by the letter posted double-digit losses last year, Reuters reports, while just one enjoyed a positive return. All told, Blackstone wrote down the value of its p.e. portfolio by 20% in the fourth quarter alone, and 31% on the year.
Blackstone’s $21.7 billion Fund V, which it closed in August 2007, was written down 35%. The $6.45 billion Fund IV fell 20%, while Fund III lost 17%. A communications and media fund fell 48%. The only fund in positive ground last year was Fund II, which rose 2%.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…