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Blackstone’s record $1.4bn profit powered by real estate business
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Blackstone’s net income nearly doubled in the fourth quarter thanks to strong investment performance in some of its biggest businesses, as the largest private-equity firm by assets raked in more cash than in any other period in its history.
The New York firm said earnings rose to $1.40bn, or $1.92 a share, from $748.9m, or $1.07 a share, a year earlier.
Blackstone’s...
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