Buyout firm beats analyst expectations with rise in the value of unrealised investments

Reporter

 reported a sharp jump in second-quarter profit as the value of its private equity portfolio surged.

Net profit for the quarter rose to $742m, or $1.09 a share, from $337.4m, or 50 cents a share, a year earlier.

Blackstone profits climb as private equity portfolio surges

Miriam Gottfried

Blackstone

Hilton Worldwide Holdings

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The hedge-fund founder is asking triple what he paid for the Bali-inspired Manalapan estate in 2017.

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The announcement comes as USS Investment Management said it won’t bid for the property firm.

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The U.S. private-equity firm said t decided not to begin a tender offer for the Japanese software company after consulting with Fuji Soft founder Hiroshi Nozawa.

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The Chinese technology giant has begun tests to integrate homegrown startup DeepSeek’s AI model into its Weixin messaging app.

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