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Blackstone earnings take beating as private equity portfolio slumps
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Blackstone’s net income plummeted in the third quarter as the value of its private equity portfolio declined.
The New York investment firm reported net income of $2.3m, or less than 1 cent a share, compared with a profit of $1.4bn, or $1.94 a share, during the same period last year.
Blackstone said the value of its corporate private equity...
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