FILE PHOTO: The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) April 4, 2016. REUTERS/Brendan McDermid
October 23, 2019
By Chibuike Oguh
(Reuters) – Blackstone Group Inc <BX.N>, the world’s largest manager of alternative assets such as private equity and real estate, said on Wednesday that its distributable earnings in the third quarter fell 8% year-on-year, surpassing most analyst estimates.
Blackstone reported a drop in proceeds in asset sales in its private equity business, offset partly by a rise in distributable earnings in its real estate, corporate credit and hedge funds divisions.
Blackstone’s distributable earnings per share came in at 58 cents per share, higher than the 53 cents that analysts estimated on average, according to data compiled by Refinitiv.
(Reporting by Chibuike Oguh in New York; Editing by Steve Orlofsky)
