The Australian – Blackstone Group posted a wider second-quarter loss, but results beat analysts’ expectations as the private-equity giant reported positive returns and better fund-raising at its credit-oriented and funds-of-hedge-funds businesses.
On a conference call with analysts and investors, chairman and chief Executive Stephen A. Schwarzman said that two-thirds of the companies in Blackstone’s private-equity portfolio expect to see either positive or flat earnings before interest, taxes, depreciation and amortisation, or Ebitda.
That’s compared to 35 per cent of the companies in the Standard & Poor’s 500 that Blackstone expects to see gains in that area.
