Blackstone Reports 25 Percent Jump in Quarterly Profit
The asset manager reported distributable earnings of 1.76 billion dollars as total assets reached 1.3 trillion. Gains were driven by private equity and credit.
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BLACKSTONE INC reported a significant increase in first-quarter profit on Thursday, driven by robust investment gains and rising inflows despite a backdrop of global economic uncertainty and geopolitical conflict. The United States-based firm, recognized as the world's largest alternative asset manager, saw its total assets under management climb 12% to approximately $1.3 trillion.
