Blackstone reported an unexpected third- quarter loss as an 11 percent drop in the value of its buyout holdings forced the reversal of previously booked fees. Economic net income, a measure of earnings excluding some costs tied to the firm’s initial public offering, showed a loss of $341.9 million, or 31 cents a share, compared with a profit of $339.3 million, or 31 cents, a year earlier…“The third quarter presented extremely challenging market conditions, dominated by risk aversion and volatility,” Schwarzman said in today’s statement. “Our earnings were not immune to the sharp downward trajectory of global markets.” [Bloomberg, related]
- Hedge Fund Manager Keeps A Detailed Record Of All The Asses He's Grabbed
- Pay Hike Watch ’14: UBS Junior Bankers Are Not Happy
- Bill Gross Reacts To George Soros's $500 Million Investment Like He's Been Awarded The Presidential Medal Of Freedom
- Schwab Broker Was One Stop Shop For (Stolen) Office Supplies, Oxycodone
- Bonus Watch '14: Congrats On Being An Investment Banker
- Opening Bell: 11.20.14
- Goldman Sachs Is Smart
- Two and a Half Men Star/Venture Capitalist Was Just Kidding About Liking The Idea Of Investigating Journalists
- Phil Falcone Isn’t Through With Charlie Ergen Yet!
- Another Hedge Fund Admits Getting Fannie, Freddie Back Maybe Not The Slam-Dunk It Appeared
- Executive Editor
- Bess Levin
How Can We Help You?
- Send tips to:
- For tech issues email:
- For advertising or events email:
- For research or custom solutions email:
- Dealbreaker is published by Breaking Media.
For a full list of our sites, services and staff visit breakingmedia.com