Blackstone Profit Lower, Financing Still Difficult


	Blackstone Profit Lower, Financing Still Difficult

Forbes Markets

8-6-2008 11:55 AM

499 views

tags:

private equity, blackstone

Forbes Markets says:

Second-quarter earnings plunged to $99.9 million, after taxes but before noncash charges for vesting equity-based compensation and amortization of intangible assets, from $735.6 million a year earlier. In the first quarter of 2008, it lost $93.6 million.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/39804f73-1acf-462a-9f9d-b26aa9f4bccd/49C43658-324D-438F-A775-5FE70CCAEF78/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.reuters.com/article/ousiv/idUSWNAB540620080806" href="http://www.reuters.com/article/ousiv/idUSWNAB540620080806" style="font-size: 11px;">www.reuters.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.reuters.com/article/ousiv/idUSWNAB540620080806">Blackstone Group LP (BX.N: <A href="http://www.reuters.com/stocks/quote?symbol=BX.N">Quote</A>, <A href="http://www.reuters.com/stocks/companyProfile?symbol=BX.N">Profile</A>, <A href="http://www.reuters.com/stocks/researchReports?symbol=BX.N">Research</A>, <A href="http://reuters.socialpicks.com/stock/r/BX">Stock Buzz</A>), the private equity company, reported lower quarterly profit on Wednesday, but still topped estimates, and said it sees increasing investment opportunities despite volatile markets.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.reuters.com/article/ousiv/idUSWNAB540620080806"><P>"These are some of the most difficult time I've seen in my 33 years," Blackstone President and Chief Operating Officer Tony James said on a conference call. "The headwinds today make this a more challenging fundraising environment."</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/49C43658-324D-438F-A775-5FE70CCAEF78/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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