NEW YORK: Blackstone Group LP said on Wednesday its third-quarter distributable earnings rose 9per cent year-on-year, as the world's largest manager of alternative assets such as private equity and real estate took advantage of a rise in corporate valuations to cash out on some of its leverage buyout investments.
Blackstone completed the US$7 billion sale of Cheniere Energy Partners to Brookfield Asset Management and Blackstone Infrastructure Partners in the quarter, as well as the US$625 million initial public offering of India's second real estate investment trust , Mindspace Business Parks.
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