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Thursday, January 31, 2013

Blackstone's earnings outshine real estate, (NYSE: APO), (NYSE: BX), (NASDAQ: CG)

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's private equity business made a strong comeback in 2012 on the back of higher fund valuations, rising 14.3 percent for the year, as markets rallied. Its real estate portfolio rose 14.4 percent, but earnings were roughly flat because fund values did not rise faster than they did last year.A private equity firm founded by Stephen Schwarzman and Peter Peterson in 1985, Blackstone has become more of a real estate firm in recent years, as this franchise has come to dominate its earnings. Though private equity profits rose 86 percent in the fourth quarter, real estate remained the largest earnings contributor.Blackstone, the first to report fourth-quarter results in a peer 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.

Apollo Global Management, LLC (Apollo) is a global alternative asset manager. Shares of APO traded higher by 1.1% or $0.23/share to $21.17. 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 19015.

The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX traded higher by 3.43% or $0.5975/share to $18.04. 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 969901.

Shares of CG traded higher by 0.39% or $0.1199/share to $30.65. 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 1136.



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