Blackstone earnings drop amid choppy markets
(Reuters) - Blackstone Group LP, the largest publicly listed alternative asset manager, reported lower fourth-quarter earnings as performance fees declined, but management fees increased as its assets grew to a record $137 billion. Since 2007, when Blackstone raised $4.7 billion in an initial public offering, it has had to serve two constituencies -- its limited partners, such as pension funds and endowments, that invest in its funds, and its public stockholders.
2 February 2012•2 mins read
