The Ticker

Blackstone profit jumps 43% in 4Q

The revival of the private equity industry remains in full swing, as the Blackstone Group reported a 43 percent jump in fourth-quarter earnings from the period a year earlier.

The alternative investment giant said on Thursday that it had earned about $670 million for the quarter, as almost all of its businesses showed gains. For the year, the firm earned about $2 billion, up 30 percent from 2011.

source » The New York Times
byline » Michael De La Merced