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Blackstone Group LP

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  • Whatever Gorman meant by "optimize," the commodities staff interpreted it as "not good for my career at Morgan Stanley. "According to KBW analyst Brian Kleinhanzl, who rates Morgan Stanley a" market perform, "optimize means" cutting people or exiting products altogether that are unprofitable. "As we have previously stated, Morgan Stanley is committed to a...

  • Oct 30- Apollo Global Management LLC reported a bigger-than-expected 91 percent drop in third-quarter profit on Thursday, as its private equity funds depreciated, in stark contrast to its peers, and the firm generated less cash from selling assets. A halt to the stock market rally weighed on the earnings of all of Apollo's publicly listed peers, with KKR& Co LP and...

  • Peer KKR& Co LP reported a 17 percent decline in third-quarter pretax profit earlier this month, while Blackstone Group LP reported an 18 percent rise. This translated into post-tax ENI of 55 cents per adjusted unit in the third quarter of 2014, slightly ahead of the average analyst estimate of 54 cents in a Thomson Reuters poll. Asset sales included Beats...

  • Including the general partner's money in the average net returns can inflate the fund's average net performance figure, and the SEC is investigating whether private equity fund managers properly disclose whether they are doing that or not, the sources said. An SEC spokeswoman declined to comment. The SEC's focus on the average net IRR disclosures, which has...

  • NEW YORK, Oct 27- Blackstone Group LP, the world's largest private equity investor in real estate, is preparing to seek around $13 billion for its next flagship global real estate fund, in line with its predecessor fund, according to people familiar with the matter. Its latest fund, Blackstone Real Estate Partners VII, which raised $13.4 billion in 2012, reported a...

  • NEW YORK, Oct 23- Private equity firm KKR& Co LP reported a lower-than-expected 27 percent year-on-year drop in third-quarter profit on Thursday, as its holdings appreciated more than many analysts foresaw and it generated more cash by exiting its investments. KKR's steep earnings drop was driven by a lower appreciation of its private equity investments...

  • NEW YORK, Oct 22- Apollo Global Management LLC plans to start raising between $2 billion and $3 billion for a second natural resources private equity fund, sources familiar with the situation said, in the latest sign that the firm is doubling down on the U.S. shale boom. The firm's first resources fund, the Apollo Natural Resources Partners, has now almost fully...

  • Blackstone backs 'utility scale' wind, solar power Tuesday, 21 Oct 2014 | 6:07 PM ET

    Mega investment firm Blackstone Group announced a new partnership to identify and to develop North American renewable power projects.

  • Blackstone creates new renewable energy firm Tuesday, 21 Oct 2014 | 12:38 PM ET

    The Blackstone Group will partner on a new push to develop utility scale wind and solar power projects in North America. Blackstone is teaming up with Matthew Roseblum, the founder and CEO at Solops, to create Onyx Renewable Partners. Shares of Blackstone Group LP rose 3 percent to $30.32 by midday, ahead of broader market gains.

  • *Third-quarter ENI 66 cents per share; Wall Street view 72 cents. Oct 16- Blackstone Group LP, the world's largest alternative asset manager, on Thursday reported lower-than-expected third-quarter earnings, but said it was well positioned to profit from market jitters and put more of its $42.3 billion in undrawn investor capital to work. Blackstone, whose...

  • Blackstone posts profit, sees opportunity in turmoil Thursday, 16 Oct 2014 | 10:53 AM ET
    Stephen Schwarzman

    A bout of market volatility rattled traders’ nerves on Wednesday, but the Blackstone Group is looking for ways to profit on the turmoil.

  • *Assets under management at $284 billion at end September. Third-quarter ENI 66 cents per share; Wall Street view 72 cents. Oct 16- Blackstone Group LP, the world's largest alternative asset manager, on Thursday reported lower-than-expected third-quarter earnings, but said it was well positioned to profit from market jitters and put more of its $42.3 billion in...

  • Early movers: GS, DAL, MAT, AXP, NFLX & more Thursday, 16 Oct 2014 | 8:21 AM ET
    A trader works on the floor of the New York Stock Exchange as the Alibaba Group IPO goes public.

    Some of the names on the move ahead of the open.

  • Oct 16- Blackstone Group LP, the largest publicly listed alternative asset manager, reported an 18 percent rise in third-quarter profit on Thursday, missing many analysts' expectations. Blackstone, whose investments include the Weather Channel, shoemaker Crocs Inc and SeaWorld Entertainment Inc, said economic net income, a metric of profitability that takes...

  • Traders looking for more economic headwinds Thursday, 16 Oct 2014 | 6:06 AM ET
    Traders on the floor of the New York Stock Exchange, October 15, 2014.

    After Wednesday’s market turbulence, traders will be watching Thursday’s economic reports for any further indications the U.S. economy is running into headwinds.

  • Market fear factors could linger Thursday Wednesday, 15 Oct 2014 | 7:57 PM ET
    Traders on the floor of the New York Stock Exchange, October 15, 2014.

    After Wednesday’s market turbulence, traders will be watching Thursday’s economic reports for any further indications the U.S. economy is running into headwinds.

  • NEW YORK, Oct 10- Blackstone Group LP said on Friday it would spin off its advisory units into a company headed by star Wall Street investment banker Paul Taubman, to avoid potential conflicts of interest in the sprawling private equity empire. The new publicly traded company could be valued at $1 billion to $2 billion, a person close to Blackstone said.

  • Midday movers: Blackstone Group, Tesla Motors & more Friday, 10 Oct 2014 | 12:40 PM ET

    Some of Friday's midday movers:

  • Oct 10- Blackstone Group LP said it would spin off its M&A, restructuring and private equity fundraising advisory businesses to avoid conflicts, combining them with the advisory firm of Morgan Stanley investment banking veteran Paul Taubman. Blackstone's advisory businesses being spun out account for a tiny fraction of the New York firm's earnings,...

  • Blackstone Group to spin off financial advisory unit Friday, 10 Oct 2014 | 10:41 AM ET
    Paul Taubman

    Blackstone announced plans to spin off its financial advisory business, its restructuring services, and its Park Hill fund businesses into one entity.