Reuters/Brendan McDermid
(Reuters) – Buyout firm Blackstone Group LP reported slightly lower-than-expected quarterly earnings on Thursday, after strong gains in real estate holdings were offset by a pullback in credit investment performance.
Blackstone said it earned an economic net income (ENI), a key metric for U.S. private equity that accounts for unrealized investment gains or losses, of $ 705 million in the second quarter, or 59 cents a share.
That translated to a 36 percent increase in ENI compared to a year ago, but was below the 62 cents a share forecast of analysts, according to Thomson Reuters I/B/E/S.
(Reporting by Koh Gui Qing; Editing by Bernadette Baum)
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