By Chibuike Oguh
(Reuters) – Blackstone Inc said on Thursday its distributable earnings more than doubled to $1.6 billion in the third quarter, driven by strong asset sales from its real estate and private equity portfolios.
Dealmaking activity continued at a frenetic pace, as Blackstone and other private equity firms capitalized on low interest rates and the economic recovery from the COVID-19 pandemic.
Blackstone reported distributable earnings of $1.28 per share, which exceeded the average Wall Street analyst estimate of 91 cents, according to Refinitiv.
(Reporting by Chibuike Oguh in New York, Editing by Timothy Heritage)
