NEW YORK, July 17 Blackstone Group LP,
the world's largest alternative asset manager, said on Thursday
its second-quarter earnings jumped 89 percent year-on-year as
its private equity profits soared, marking its best second
Blackstone said economic net income (ENI), a metric of its
profitability that takes into account the mark-to-market
valuation of its portfolio, was $1.33 billion in the second
quarter versus $703 million a year ago.
That translated into ENI per share of $1.15, more than the
71 cents that analysts forecast on average in a Thomson Reuters
Distributable earnings, which show actual cash that is
available to pay dividends, more than doubled in the second
quarter to $770.8 million from $338.5 million a year ago.
Total assets under management were $278.9 billion as of the
end of June, up from $272 billion as of the end of March.
Fee-earning assets under management rose to $209.9 billion from
$203.6 billion at the end of March.
Blackstone, whose investments include The Weather Channel,
Pinnacle Foods Inc and SeaWorld Entertainment Inc,
declared a quarterly distribution of 55 cents per common unit.
(Reporting by Greg Roumeliotis in New York, Editing by Franklin