Blackstone records strongest quarter since IPO
The Blackstone Group beat expectations with its positive earnings report, showing a strong recovery year-on-year.
The company recorded economic net income of $621,752, representing a profit of $0.55 per unit, as opposed to a loss of $0.34 in 2011.
Its private equity portfolio gained 7.1% in value from Q2 to Q3, while overall carried interest (including all divisions) amounted to $83.8m this quarter, which is the highest in five quarters.
The Blackstone Group listed on the New York stock exchange in 2007. Its total AUM amounts to $205bn. Blackstone commited to a quartlery distribution of $0.10 per common unit.
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