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Blackstone Group Proves Able to Find Profit Under a Rock

By Phil Butler | July 23, 2011

In real estate investment news from New York, giant equity firm Blackstone Group realized banner earnings in the second quarter of this year, based on what the company called "increased valuation fees" and other factors. Blackstone President, Tony James, suggested that overall real estate ventures are becoming expensive.

Blackstone Group

Blackstone Group - a world leader in investing


It is clear, Blackstone and other companies are seeking, and finding, opportunities to realize a margin where real estate is concerned. And while raising funds for deals is tough, discovering good assets to invest in is even tougher. Clearly big names like Blackstone wield a certain advantage over others. Blackstone's James, had this to add on a conference call to reporters:

"Purchasing assets from distressed sellers has been the dominant focus of our real estate activities over the last year."

According to the news Blackstone has $7.4 billion plus to invest in real estate alone, and according to this news, with not many places to sink the capital into. Blackstone did snatch up German outdoor giant Jack Wolfskin for $994 million, but deals like that aren't around every corner. Even still, evidently Blackstone has a formula for success going. Looking at their Q2 report here (PDF), real estate revenues more than tripled for the period between 2010 and 2011 from the $208.5 million to $648.5 million respectively,  not a bad return on assets that are so hard to find.

CEO Stephen A. Schwarzman

CEO and Co-Founder Stephen A. Schwarzman


Blackstone Group's CEO Stephen A. Schwarzman (image above), a graduate of Harvard Law School, and Yale University, is one of Forbes' richest people in America. His estimated worth now being upwards of $6 billion. Time Magazine also lists Schwarzman as one of the 100 most influential people in the world. Schwarzman Co-Founded Blackstone Group along with former Nixon Secretary of  Commerce Peter George Peterson back in 1985. For the reader wondering how Blackstone continues to shine even in tough economic times - Schwarzman and his contermporaries are no fools, these guys turn over every rock to find the edge. Perhaps the reason for their brand?

For those interested in Blackstone Group, you can visit their website via the links above, the original release, or follow them here on Twitter.  Alternatively, you can call their offices in New York directly via: +1 212 583 5000.

Phil Butler is a former engineer, contractor, and telecommunications professional who is editor of several influential online media outlets including part owner of Pamil Visions with wife Mihaela. Phil began his digital ramblings via several of the world’s most noted tech blogs, at the advent of blogging as a form of journalistic license. Phil is currently top interviewer, and journalist at Realty Biz News.
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