July 18, 2019 / 11:17 AM / a month ago

Blackstone reports almost flat Q2 distributable earnings

July 18 (Reuters) - Blackstone Group Inc, the world’s the largest manager of alternative assets such as private equity and real estate, said on Thursday its distributable earnings in the second quarter rose just 1% year-on-year, missing most analysts’ expectations.

The New York-based firm reported net income per share on a diluted basis of 45 cents, compared to analysts’ expectations on average for 50 cents, according to Refinitiv estimates.

Blackstone said its assets under management rose to a record $545.5 billion in the three months to end-June, from $511.8 billion in the prior quarter. (Reporting by Chibuike Oguh in New York; Editing by Bernadette Baum )

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