The Blackstone group, a leading U. S. private equity firm, reported on Monday that its net income tripled in the second quarter.
The company reported revenues of 975.3 million dollars and net income of 774.4 million dollars for the three months ended June 30, compared with revenues of 324.6 million dollars and net income of 224.1 million dollars a year ago.
Strong growth in all four business segments, corporate private equity, real estate, marketable alternative asset management and financial advisory, drove the increase, the private equity giant said.
Corporate private equity revenues increased to 426.1 million dollars compared with 125.6 million dollars a year earlier.
Real estate revenues increased from 92 million dollars to 320.2 million dollars in the second quarter.
Marketable alternative asset management revenues increased to 168.6 million dollars compared with 32.5 million dollars in the prior year.
Financial advisory revenues increased to 98.6 million dollars from 83.8 million in the prior year.
For the first half of 2007, the company reported revenues of 2, 201.7 million dollars and net income of 1,906.4 million dollars compared with revenues of 880.1 million dollars and net income of 711.2 million dollars a year ago.
Source: Xinhua
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