Select Equity Group, Ariel Investments Were Right About Blackstone

The Blackstone Group L.P. (NYSE:BX) is one of the biggest winners yesterday, increasing 6%. Bloomberg explains this movement as follows:

The Blackstone Group L.P. (NYSE:BX), the world’s biggest manager of alternative assets such as private equity and real estate, posted a record fourth-quarter profit as the carrying value of its holdings gained and it sold assets. Economic net income, a measure of earnings excluding some costs, more than doubled to $1.54 billion, or $1.35 a share, from $670 million, or 59 cents, a year earlier, New York-based Blackstone said today in a statement. Analysts had expected earnings of 83 cents a share, according to the average of 16 estimates in a Bloomberg survey.

Marketwatch also published the following about The Blackstone Group L.P. (NYSE:BX):

The Blackstone Group L.P. (NYSE:BX) +6.37%  shares jumped more than 6% in premarket trading after the firm reported earnings more than doubled in the fourth quarter, beating analyst expectations. The private-equity firm reported economic net income was $1.54 billion, or $1.35 earnings per share, compared to $670 million or 59 cents per share in the same period a year earlier. Revenue for the quarter was $2.69 billion, compared to $1.23 billion the year earlier. Analysts expected 86 cents per share, on $1.86 billion in revenue for the fourth quarter, according to FactSet. The firm reported assets under management were $266 billion, up 26%, boosted by increases from the firm’s investing business, through a combination of strong inflows and appreciation.

Some of the hedge funds tracked by Insider Monkey made big today because of this move. Here are the top 5 hedge funds and their gain today:

1. Robert Joseph Caruso’s Select Equity Group

Number of Blackstone Group shares: 3,337,729

Gain: More than $ million.

2. John W. Rogers’s Ariel Investments

Number of Blackstone Group shares: 2,476,790

Gain: More than $ million.

3. Jim Simons’s Renaissance Technologies

Number of Blackstone Group shares: 2,357,400

Gain: More than $ million.

4. Thomas E. Claugus’s GMT Capital

Number of Blackstone Group shares: 2,158,400

Gain: More than $ million.

5. Paul Marshall And Ian Wace’s Marshall Wace Llp

Number of Blackstone Group shares: 910,286

Gain: More than $ million.

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