facebook-page-view
Advertisement

Blackstone Q3 profit up on strong fund performance

By Reuters

  • 18 Oct 2012

Blackstone Group LP, the largest publicly listed alternative asset manager, said on Thursday third-quarter profit was its third best since going public in 2007 as its funds appreciated in value and performance fees soared.

Blackstone reported that third-quarter economic net income, a measure of its profitability using the mark-to-market valuation of its portfolio, rose to 55 cents per share from a loss of 34 cents per share a year earlier.

Blackstone, which has investments in The Weather Channel, Pinnacle Foods and SeaWorld Parks & Entertainment, said distributable earnings, reflecting actual cash available to pay dividends, rose to $189.6 million from $125.7 million a year ago.

Advertisement

Assets under management totaled $205 billion at the end of September, up 30 per cent from a year earlier.

Blackstone declared a quarterly distribution of 10 cents per common unit.

Advertisement

Share article on

Advertisement
Advertisement