Blackstone Group Inc, the world’s largest alternative asset manager, said on Thursday its fourth-quarter distributable earnings rose 27 percent year-on-year, as strong growth in its real estate and hedge funds businesses offset declines in its private equity and credit divisions. During the quarter, Blackstone sold off its remaining 10.8 percent stake in Invitation Homes, the largest single-family rental home operator in the U.S., raking in more than $1.7 billion. The buyout firm also completed the sale of its 61 percent stake in Swedish property firm Hembla AB to German real estate giant Vonovia SE for about $1.3 billion. …read more
Source:: Yahoo Finance
