Blackstone Paid $16.2 Million Clawback in Q3

Private equity giant Blackstone Group paid investors a $16.2 million “clawback” on one of its real estate funds during the third quarter, Reuters reported. A clawback is paid when a fund fails to meet its targets, and general partners have to refund profits that were taken earlier in a fund’s life. Such obligations are down compared with last year, Reuters reported. As of Sept. 30, Blackstone's clawback obligations were $392 million, down from $485.3 million as of Dec. 31, 2009.

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