NEW YORK Jan 30 Blackstone Group LP, the
world's largest publicly listed alternative asset manager,
reported a 130-percent rise in fourth-quarter profit on
Thursday, showing particularly strong gains in its real estate
Blackstone, whose investments include The Weather Channel,
Hilton Worldwide Holdings Inc and SeaWorld Entertainment
Inc, said economic net income - a metric of its
profitability that takes into account the mark-to-market
valuation of its portfolio - was $1.54 billion in the fourth
quarter of 2013, compared with $670 million a year ago.
Distributable earnings, which show actual cash that is
available to pay dividends, jumped 46 percent in the first
quarter to $820.6 million.
Total assets under management were $265.8 billion as of the
end of December, up 26 percent year-on-year. Fee-earning assets
under management rose 18 percent to $198 billion.
Blackstone declared a quarterly distribution of 58 cents per