Blackstone Earnings Nearly Double in Q2 2021
Blackstone backed out of hotels in the nick of time. “It wasn’t because we anticipated the pandemic,” said president Jonathan Gray on the firm’s Q2 earnings call Thursday. Rather, the investment giant saw greater promise in the rental housing, life sciences and industrial buildings it picked up in the past year — investments that helped it nearly double its distributable earnings year-over-year. Now, the firm is betting on recovery, with plans to pull hospitality, which currently comp...
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Source: therealdeal.com