Pretty hard fall. But this was expected.
The Blackstone Group on Thursday reported a 74 percent decline in second-quarter earnings, underscoring some of the challenges the private equityindustry faces.
Blackstone’s profit, reported as economic net income after taxes, amounted to $212.3 million for the quarter, compared with $804.2 million in the period a year earlier. The figures include unrealized gains from investments. The earnings of 19 cents a share fell short of the 21 cents a share expected by analysts surveyed by Capital IQ.
- Private Equity Giants Save Money Buying in Bulk – NYTimes.com (nadernazemi.com)
- Blackstone Taps Baratta to Head Global Private Equity (pehub.com)
- Blackstone Names New Head of Private Equity (blogs.wsj.com)
- Facing Takeover by Blackstone, Hotel Owner Eagle Hires Restructuring Exec – Deal Journal – WSJ (nadernazemi.com)
- Reuters – Blackstone Nears $13B for Real Estate Fund (pehub.com)