The leading investments management firm, Blackstone Group Inc., on Thursday, 22nd July 2021 reported their 2nd quarter 2021 investor call.
“The firm’s results were truly outstanding in the 2nd quarter,” revealed Chairman, CEO and Co-founder Stephen A. Schwarzman, while announcing a net income for the quarter as $2.9 billion, under generally accepted accounting principles.
Blackstone nearly doubled up on their distributable earnings. It has shown a year-on-year increase from $548 million to $1.1 billion. Fee-related earnings increased 30% to over $700 million. It has declared a quarterly dividend of $0.70 per share to shareholders of record at the close of the business on August 2, 2021.
The firm had also announced a change in their legal name from Blackstone Group Inc. to Blackst...