The first quarter return of Blackstone Group’s private equity funds jumped 15% in the first quarter, and the firm plans as many as 10 initial public offerings for its portfolio companies by the early part of next year.
Blackstone's net economic income, which excludes some expenses related to the private equity firm's initial public offering three years ago, swung to $360m (€271m) in the first quarter after a loss of $82m in the first quarter of last year.