![]() The deal is expected to increase Blackstone's assets under management by $28 billion.īlackstone said it expects to do more deals with insurance firms given prevailing low interest rates. ![]() ![]() insurer Allstate Corp (ALL.N) for $2.8 billion. On Tuesday, Blackstone agreed to acquire most of the life insurance business of U.S. Opportunistic and core real estate funds rose 4.3% and 5.5%, respectively. "There may be market volatility in the near term and short-term risks to performance, but they're well positioned to navigate it given that we just went to through a real life stress-test."ĭuring the quarter, Blackstone completed the $14.6 billion sale of BioMed Realty Trust, America's largest private owner of medical office buildings, and the divestment of its 36% shareholding in UK insurer and annuity provider Rothesay Life.Ī sharp rise in investment income helped Blackstone report net income of $748.9 million under generally accepted accounting principles (GAAP), up 55% from the previous year.īlackstone said its private equity portfolio appreciated 10.6% in the quarter, compared with an 11.7% rise in the benchmark S&P 500 stock index over the same period. "They are entering 2021 with substantial momentum especially in insurance," said JMP analyst Devin Ryan. This translated into distributable earnings per share of $1.13, outperforming analysts' average estimate of 89 cents, according to financial data provider Refinitiv.īlackstone's stock was up 3% at $66.78 in afternoon trading in New York on Wednesday. We may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.NEW YORK, Jan 27 (Reuters) - Blackstone Group Inc (BX.N), the world's largest manager of alternative assets, said on Wednesday its fourth-quarter distributable earnings rose 60% year-on-year, driven by a surge in asset sales across its private equity and real estate business lines.ĭistributable earnings - cash available for paying dividends to shareholders - totaled $1.46 billion, up from $914 million a year earlier. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of us and/or the data provider. We and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. We would like to remind you that the data contained in this website is not necessarily real-time nor accurate. DEVIN RYAN JMP PROFESSIONALTrading on margin increases the financial risks.īefore deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. ![]() Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. ![]()
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