Blackstone third-quarter earnings rise on strong asset sales

  • 📰 Reuters
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 97%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Blackstone Group LP said on Wednesday third-quarter distributable earnings rose 9% 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...

said on Wednesday third-quarter distributable earnings rose 9% 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.

Distributable earnings - the cash available for paying dividends to shareholders - totaled $772 million, up from $710 million a year earlier. This translated into distributable earnings per share of 63 cents, surpassing analysts’ average estimate of 57 cents, according to data compiled by Refinitiv. Blackstone said its private equity portfolio appreciated 12.2% in the third quarter, compared with an 8.5% rise in the benchmark S&P 500 stock indexDuring the quarter, Blackstone completed the $7 billion sale of Cheniere Energy Partners

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Simple the cross folder are folded. ready for the vote.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines