![]() The deal is expected to increase Blackstone's assets under management by $28 billion.īlackstone said it expects to do more deals with insurance firms given prevailing low interest rates. insurer Allstate Corp (ALL.N) for $2.8 billion. On Tuesday, Blackstone agreed to acquire most of the life insurance business of U.S. Opportunistic and core real estate funds rose 4.3% and 5.5%, respectively. "There may be market volatility in the near term and short-term risks to performance, but they're well positioned to navigate it given that we just went to through a real life stress-test."ĭuring the quarter, Blackstone completed the $14.6 billion sale of BioMed Realty Trust, America's largest private owner of medical office buildings, and the divestment of its 36% shareholding in UK insurer and annuity provider Rothesay Life.Ī sharp rise in investment income helped Blackstone report net income of $748.9 million under generally accepted accounting principles (GAAP), up 55% from the previous year.īlackstone said its private equity portfolio appreciated 10.6% in the quarter, compared with an 11.7% rise in the benchmark S&P 500 stock index over the same period. "They are entering 2021 with substantial momentum especially in insurance," said JMP analyst Devin Ryan. This translated into distributable earnings per share of $1.13, outperforming analysts' average estimate of 89 cents, according to financial data provider Refinitiv.īlackstone's stock was up 3% at $66.78 in afternoon trading in New York on Wednesday. Usage will be monitored.NEW YORK, Jan 27 (Reuters) - Blackstone Group Inc (BX.N), the world's largest manager of alternative assets, said on Wednesday its fourth-quarter distributable earnings rose 60% year-on-year, driven by a surge in asset sales across its private equity and real estate business lines.ĭistributable earnings - cash available for paying dividends to shareholders - totaled $1.46 billion, up from $914 million a year earlier. © 2022 Charles Schwab & Co., Inc, All rights reserved. Learn more about our services for non-U.S. ![]() ![]() residents are subject to country-specific restrictions. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. TD Ameritrade Holding Corporation is a wholly owned subsidiary of The Charles Schwab Corporation. and TD Ameritrade Clearing, Inc., members FINRA/SIPC, are separate but affiliated companies and subsidiaries of TD Ameritrade Holding Corporation. Access to Electronic Services may be limited or unavailable during periods of peak demand, market volatility, systems upgrade, maintenance, or for other reasons. Its banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides deposit and lending services and products. (Member SIPC), offers investment services and products, including Schwab brokerage accounts. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. The Charles Schwab Corporation provides a full range of brokerage, banking and financial advisory services through its operating subsidiaries. Schwab is also an affirmative action employer, focused on advancing women, racial and ethnic minorities, veterans, and individuals with disabilities in the workplace. We believe diversity and inclusion are part of our success as a company and our purpose of serving every client with passion and integrity. As an equal employment opportunity employer, our policy is to provide equal employment opportunities to all employees and applicants without regard to any status that is protected by law ( Equal Employment Opportunity policy ). Schwab is committed to building a diverse and inclusive workplace where everyone feels valued.
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