Deals
Blackstone’s Profit Soars 86% as Hilton, Holdings Gain
- Hilton, firm’s biggest public asset, jumped 19% in quarter
- Fundraising, sales, deployment was ‘robust’: Jefferies
What's Driving the Recent Rally in Bank Stocks?
This article is for subscribers only.
Blackstone Group LP, the world’s biggest private equity firm, reported an 86 percent jump in fourth-quarter profit as holdings including Hilton Worldwide Holdings Inc. appreciated.
Economic net income, a measure of earnings that reflects both realized and unrealized investment gains, was $811.6 million, or 68 cents a share, compared with $435.7 million a year earlier, New-York based Blackstone said in a statement Thursday. Analysts had expected earnings of 66 cents a share, the average of 14 estimates compiled by Bloomberg.