Blackstone’s profits treble

City A.M. Reporter
BLACKSTONE, the world’s largest alternative asset manager, said yesterday is second-quarter earnings more than tripled as the value of its funds rose and it cashed out on parts of its portfolio, including SeaWorld.

Blackstone, whose investments include The Weather Channel, Hilton Worldwide and Pinnacle Foods, reported economic net income of $703m, up from $212m a year ago.

The firm also filed for an IPO for Brixmor Property Group, its grocery-anchored shopping centre business.