April 18 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.