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Thursday, October 18, 2012

Blackstone Swings to Profit as Its Investment Rise


Blackstone Group LP BX +3.70% swung to a third-quarter profit as the private-equity firm saw its pool of assets under management grow, while revenue climbed on strong gains on the value of its investments. Benefiting from stocks' rally and continued strength in credit markets, Chief Executive Stephen Schwarzman said the firm generated "compelling returns" across all of its investing businesses.

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