Blackstone third-quarter profit rises

A Billion Dollars

Blackstone Group said third-quarter profit increased 18% percent as the world’s largest alternative-asset manager collected profits from its biggest buyout fund and sold real estate holdings.

Economic net income, a measure of earnings that reflects both realized and unrealized gains, rose to $758.4 million,  from $640.2 million a year earlier, New York-based Blackstone said in a statement Thursday.

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