Reuters – Blackstone Profits Beat Expectations

Blackstone Group LP, the world's largest alternative asset manager, said on Thursday third-quarter earnings were its third best since going public in 2007, as its funds appreciated in value and performance fees soared, Reuters reported. The New York-based manager of private equity, real estate, credit and hedge fund assets beat analysts' profit estimates as the value of its holdings jumped on a buoyant stock market, while the firm raked in more fees from exiting investments.

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