Skip to content
Subscriber Only

Blackstone’s Profit Falls 40% as Market Plunge Hurts Holdings

  • Assets under management rose to $472.2 billion in last quarter
  • Firm switches to distribuable earnings as key profit metric
Blackstone's McCormick Sees Less Seed Deals, Larger Launches (1)
Photographer: Victor J. Blue/Bloomberg
Updated on

Blackstone Group LP saw its profit drop 40 percent as the stock market rout last quarter dented the performance of its investments.

Shares of Blackstone have fallen about 1.3 percent, with reinvested dividends, in the past year through Wednesday, less than its major rivals and the S&P 500 Index.