Blackstone posts modest Q2 profit jump on private equity, credit gains

By Jerry  Published On July 18, 2024
Blackstone (BX.N), opens new tab said on Thursday its second-quarter distributable earnings rose 3% from a year earlier, as a jump in asset sales in its private equity and credit divisions more than offset a slump in its real estate arm.
The New York-based investment firm’s results underscore how a long spell of high interest rates has dragged down some aspects of its business while buoying others.
High rates have weighed on Blackstone’s real estate value and made dealmaking more expensive, yet they also boosted the worth of its credit assets and helped tame inflationary pressures.
Source: REUTER

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