By Miriam Gottfried Close Miriam Gottfried Oct. 28, 2020 7:00 am ET Blackstone Group Inc. BX -1.84% posted slightly higher net earnings for the third quarter as its focus on technology-related investments helped its private-equity portfolio rise above already-buoyant broader markets.
The value of the New York firm’s private-equity portfolio climbed by 12.2%, compared with an 8.5% increase in the S&P 500 during the period. That marked Blackstone’s second straight quarter of greater-than-12% appreciation for the portfolio, a dramatic reversal from the first quarter, when coronavirus-related market turmoil pushed valuations down by 21.6%.
“The big drivers for us were the technology-oriented investments that we own,” including dating app Bumble, data provider Refinitiv and warehouses used for e-commerce, Mr. Gray said in an interview. “It’s these on-theme investments that drove the performance in the quarter.” The firm’s fee-related earnings climbed 39% year-over-year to $610.9 million as the real-estate and private-equity funds it finished raising last year began to generate fees. So-called perpetual capital, which generates a steady stream of locked-in fees because it doesn’t need to be immediately returned to investors, reached $115.2 billion, up 19% over the third quarter of 2019.
BETTER FUTURE INVESTMENTS COMMUNICATION, TECH RELATED, SERVICE, TRANSPORTATION, SERVICE. ANY BUSINESS OF NECESSITIES, COMFORTS MAY BE BETTER. PEOPLE MAY NOT SPEND ON LUXURIES, LAVISH EXPENDITURE. ENTERTAINMENT NEEDS TO REDUCE EXPENDITURE TO ATTRACT VIEWERS. EARN MORE, SPEND LESS.
Wtf TonyBobulinsky
THE COMMON COLD (CORONA VIRUS) IS A MAN MADE VIRUS ... THE VIRUS WAS CREATED TO GET PEOPLE TO DEMAND A VACCINE
thanks for this news
Aladdin
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Sumber: DEADLINE - 🏆 109. / 63 Baca lebih lajut »
Sumber: BusinessInsider - 🏆 729. / 51 Baca lebih lajut »
Sumber: BusinessInsider - 🏆 729. / 51 Baca lebih lajut »