Blackstone loses $500 million

... but claims to be in good shape.

Like just about all other private equity firms, Blackstone Group LP (NYSE: BX) reported a horrible Q3, with losses of $502.5 million, or $0.44 per share. However, the firm was fairly optimistic on the overall value of its sprawling portfolio of companies. That is, the writedown was only about 7%. As a result, some investors were naturally skeptical – and the stock price of Blackstone continued to slide."

See article at: BloggingBuyouts

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