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Blackstone Reports Quarterly Loss as Buyout Values Fall 11%

Blackstone Group LP, the world’s largest private-equity firm, posted an unexpected third-quarter loss on an 11 percent drop in the value of its buyout holdings and forecast stagnant economic conditions into 2012.

The company, led by Chairman Stephen Schwarzman, faced a volatile market in the third quarter as global stocks fell 18 percent, putting “on hold” most plans for initial public offerings of portfolio companies, Blackstone President Tony James said today on a conference call. Unsettled markets helped deals in real estate, debt financing and in Europe.