BLACKSTONE GROUP L P
SymbolBX

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The Blackstone Group Reports Third Quarter 2009 Results

2009-11-06 08:32 ET - News Release


Company Website: http://www.blackstone.com
NEW YORK -- (Business Wire)

The Blackstone Group L.P. (NYSE: BX):

  • Economic Net Income After Taxes was $275 million for the third quarter of 2009, up from $181 million for the second quarter of 2009 and a loss of $(503) million for the third quarter of 2008.
  • Net Fee Related Earnings from Operations were $95 million for the third quarter of 2009, up from $87 million for the second quarter of 2009 and down from $152 million for the third quarter of 2008.
  • Adjusted Cash Flows From Operations were $132 million during the third quarter of 2009, up from $102 million for the second quarter of 2009 and up from a loss of $(9) million for the third quarter of 2008.
  • Fee-Earning Assets Under Management totaled $96.3 billion, up from $93.5 billion at June 30, 2009.
  • GAAP Net Loss Attributable to The Blackstone Group L.P. was $(176) million for the third quarter of 2009, including net IPO and acquisition-related charges of $201 million, compared to a GAAP Net Loss of $(340) million for the third quarter of 2008, which included net IPO and acquisition-related charges of $203 million.
  • Blackstone received an A+ rating with stable outlook from Fitch and remains A rated with stable outlook from Standard & Poor's. Blackstone executed its first bond issuance in the third quarter of 2009, issuing $600 million 10-year 6.625% notes.
  • Blackstone declares a quarterly priority distribution of $0.30 per common unit.

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