Firm’s distributable earnings rose to $914m or 72 cents a share in quarter, beating expectations

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Blackstone Group reported a solid fourth-quarter profit as the firm posted bigger gains on its investments, and the portion of earnings that could be returned to shareholders rose over the year-ago quarter.

The firm posted a profit of $483.1m, or 71 cents a share, compared with a loss of $10.9m, or 2 cents a share, a year earlier.

Blackstone posts profit, helped by investment gains

Miriam Gottfried

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