Blackstone Group Inc.’s second-quarter results rebounded as the surging stock market lifted the value of the private-equity giant’s portfolio.
The New York firm swung to a profit after posting a steep loss in the first quarter as the S&P 500 recorded its biggest percentage gain in more than two decades and finished up 20% in the period. The value of its private-equity portfolio climbed by 12.8% compared with a 21.6% decline in the first quarter.
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Wow, that’s really surprising.
No shìt Sherlock. This was the whole point of pumping trillions in stimulus into the market. To elevate equity (executive compensation) and maintain hedge fund & investment bank liquidity. Everyone else gets a slice of cake. “Capitalism” LOL!