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Blackstone marks down value of investment portfolio as management fees increase

Blackstone Group has moved to reflect a sharp decline in global equity prices caused by rising interest rates and a slowing economy, by marking down the value of its sprawling investment portfolio, according to a report by the Financial Times.

Blackstone Group has moved to reflect a sharp decline in global equity prices caused by rising interest rates and a slowing economy, by marking down the value of its sprawling investment portfolio, according to a report by the Financial Times.

The report cites the company’s Q3 results, which were released on Thursday, as revealing that the value of Blackstone’s flagship corporate private equity and real estate funds, have been marked down. The firm’s private equity funds shed 0.3 per cent while its real estate and secondaries declined 0.6 per cent and 2.3 per cent, respectively.

Blackstone’s Q3 results, which show that, at $15 billion, it sold just half of the amount of investment assets seen in the previous quarter, were buoyed by an increase in management fees due to continued inflows of new assets to many of its largest strategies, including private equity as well as large credit and real estate funds.

The company reported a $2.3 million profit for the quarter.

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