The Blackstone Group reported a $165.6 million profit for the second quarter, thanks to huge gains in its hedge fund businesses, according to the International Herald Tribune. The private equity firm’s hedge funds reported $225.2 million in revenue, offsetting other gains and large losses, including a pretax loss of $185.5 million.

 

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.