Blackstone Has First Loss Since 2011 as Stock Market Tumbles

  • Stake in hotel operator Hilton fell more than $2 billion
  • CFO Chae says most of loss reversed in Q4; stock rises

Blackstone Group LP posted its first quarterly loss since 2011 because of a stock-market slump. Shares of the company rose after executives said most of the loss has reversed in the fourth quarter.

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