Blackstone's earnings surge on strong asset sales
3 Min Read FILE PHOTO: Blackstone Group CEO and Co-Founder Steve Schwarzman speaks at a Reuters Newsmaker event in New York, U.S., November 6, 2019. REUTERS/Gary He/File Photo NEW YORK (Reuters) - Blackstone Group Inc, the world’s largest manager of alternative assets, said on Wednesday its fourth-quarter distributable earnings rose 60% year-on-year, driven by a surge in asset sales across its private equity and real estate business lines. Distributable earnings - cash available for paying dividends to shareholders - totaled $1.46 billion, up from $914 million a year earlier. This translat...
Source: reuters.com