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Blackstone CEO: Don’t Worry About Our Poor Q4 Numbers

National

Blackstone’s profits plunged 72% during Q4, with a 50% drop for the year. But CEO Steve Schwarzman is telling everyone to calm down.

He says Blackstone made some hallmark deals in 2015 "that only we could make," Schwarzman says. (And he's not lying.) “Our real estate core-plus business has grown to $11B in size only two years."

With $23.5B in dry powder for real estate, the world’s largest owner of real estate has the weight to right their ship, PERE News reports. And the poor Q4 hasn't stopped the spending spree, either. Just yesterday, a Blackstone fund picked up the REIT BioMed for $8B. [PERE]