April 20 Blackstone Group LP, the world's
largest manager of assets such as private equity and real
estate, reported a 165 percent rise in first-quarter earnings on
Thursday, as the value of its holdings soared and it cashed out
on some of them.
Blackstone said economic net income (ENI) per share, a
metric of its profitability which takes into account the
mark-to-market valuation of its portfolio, came in at 82 cents
versus 31 cents in the first quarter of 2016.
This surpassed the expectations of most research analysts,
whose forecasts in a Thomson Reuters poll averaged 68 cents per
Distributable earnings, which show actual cash that is
available to pay dividends, rose in the first quarter by 212
percent to $1.23 billion.
Total assets under management were $368.2 billion as of the
end of March, up 7 percent year-on-year. Fee-earning assets
under management rose 15 percent to $280.2 billion.
Blackstone declared a quarterly distribution of 87 cents per
(Reporting by Greg Roumeliotis in New York; Editing by Chizu