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Blackstone reports record fourth-quarter earnings -Breaking

by Mike Robinson

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© Reuters. A sign is visible outside the headquarters of The Blackstone Group in Manhattan (New York), U.S.A, 11/12/2021. REUTERS/Andrew Kelly

By Chibuike Oguh

(Reuters) – Blackstone (NYSE) Inc announced Thursday that its fourth quarter distributable earnings increased by 55% to a record level. This was because the largest global manager of alternative assets used rising markets as a means to buy assets at top dollars.

Private equity dealmaking pushed global mergers and acquisition activity (M&A) to an all-time high in 2021, backed by an abundance of cheap capital and soaring corporate valuations.

Blackstone stated that the company’s distributable earnings, which is cash used to pay dividends, rose to record levels of $2.3billion from $1.7billion a year prior. According to Refinitiv, this resulted is distributable earnings per share (EPS) of $1.71. This was higher than the $1.37 average Wall Street analyst estimate.

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