April 18, 2013 / 12:26 PM / 4 years ago

Blackstone's earnings soar as it exits investments

1 Min Read

April 18 (Reuters) - Blackstone Group LP, the world's largest alternative asset manager, reported on Thursday a 28 percent rise in profit in the first quarter of 2013, as its private equity, real estate, credit and hedge fund units successfully sold assets.

Blackstone reported economic net income, a measure of its profitability that takes into account the mark-to-market valuation of its portfolio, of $628.3 million, up from $491.2 million a year before.

Distributable earnings, which show actual cash that is available to pay dividends, rose in the first quarter 134 percent to $379 million.

Total assets under management were a record $218 billion as of the end of March, up 15 percent year-on-year.

Blackstone declared a quarterly distribution of 30 cents per common unit, up 200 percent year-over-year.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below