Blackstone Group LP reported a 43 percent rise in fourth-quarter profit on Thursday, capping what it called its best year as a publicly listed alternative asset manager, despite a lackluster performance by its flagship real estate business. Blackstone, the first to report fourth-quarter results in a pier group that includes KKR & Co LP, Carlyle Group LP and Apollo Global Management LLC, said earnings rose strongly in its private equity, hedge funds and credit units.Blackstone, whose investments include The Weather Channel, Pinnacle Foods and SeaWorld Parks & Entertainment, said economic net income (ENI), a metric of its profitability takes into account the current market valuation of its portfolio, was $670 million, up 43 percent from a year ago.ENI in its real estate division was down 2 percent to $246 million.Distributable earnings, which show cash available to pay dividends, jumped 177 percent to $493.8 million.
Apollo Global Management, LLC (Apollo) is a global alternative asset manager. Shares of APO remained unchanged at $20.94. In the past year, the shares have traded as low as $10.42 and as high as $21.50. On average, 385210 shares of APO exchange hands on a given day and today's volume is recorded at 0.
The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX remained unchanged at $17.44. In the past year, the shares have traded as low as $11.13 and as high as $18.42. On average, 4188850 shares of BX exchange hands on a given day and today's volume is recorded at 1475.
Shares of CG remained unchanged at $30.53. In the past year, the shares have traded as low as $20.00 and as high as $31.74. On average, 88397 shares of CG exchange hands on a given day and today's volume is recorded at 0.
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