Blackstone Suffers Private Equity Loss

The Blackstone Group wrote down the value of four out of five private equity funds it manages. Blackstone's fourth quarter loss reached $827.1 million with positive return from only one fund out of five. Company wrote down the value of

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The Blackstone Group wrote down the value of four out of five private equity funds it manages.

Blackstone’s fourth-quarter loss reached $827.1 million with positive return from only one fund out of five. Company wrote down the value of its p.e. portfolio by 20% in the fourth quarter alone, and 31% on the year.

Blackstone’s $21.7 billion Fund V, which it closed in August 2007, was written down 35%. The $6.45 billion Fund IV fell 20%, while Fund III lost 17%. A communications and media fund fell 48%. The only fund in positive ground last year was Fund II, which rose 2%.

L.D.

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