The Blackstone Group Q3 Earnings Call
Blackstone Group COO Tony James and CEO Steven Schwarzman delivered the buyout behemoth’s results. Below, a summary of comments from a media call before the official analyst call. Below that, a transcript of Steven Schwarzman's comments. Despite a massive loss, James and crew displayed unflappable positivity on Blackstone’s position while dropping bombs of bearishness on the economy. The loss “reflects declines in values across almost all asset classes,” James said. However, he insisted, “despite a pretty awful market environment, we are still in a strong position.” On Buyout Funds: Returns and Deployment One third of portfolio companies took write-downs this quarter, while two thirds had write-ups or remained flat. There are 40 companies in Blackstone’s current portfolio.
