© Reuters. Signage is seen outside The Blackstone Group headquarters in Manhattan, New York, U.S., November 12, 2021. REUTERS/Andrew Kelly
By Chibuike Oguh
(Reuters) – Blackstone (NYSE:) Inc said on Thursday its fourth-quarter distributable earnings rose by 55% to a record high, as the world’s largest manager of alternative assets took advantage of rising markets to sell assets for top dollar.
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 said its distributable earnings, which represents the cash used to pay dividends to shareholders, surged to a record $2.3 billion from $1.7 billion a year earlier. That resulted in distributable earnings per share of $1.71, which surpassed the average Wall Street analyst estimate of $1.37, according to financial data provider Refinitiv.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
