Blackstone Posts $502 Million Loss
Need proof that the private equity industry is in a bit of freefall? Just take a look at The Blackstone Group's Q3 financials, which were released earlier this morning. The firm reported a Q3 loss of $502.5 million, compared to a $299.2 million gain in Q3 of last year. This included -$68.3 million for its private equity portfolio, which was mostly attributed to a reduction in the carrying value of its portfolio companies. It also deployed about 35% less limited partner capital. The only bright spot was from the firm's financial advisory practice, which generated
6 November 2008•1 min read
