Private equity giant Blackstone Group
Blackstone's fourth-quarter economic net income (ENI) was $329 million, compared with a loss of $764 million a year earlier. For the full year, ENI rose to $703 million, from a loss of $1.2 billion for 2008.
On an after-tax basis, ENI was 29 cents a share. Analysts expected, on average, 20 cents a share, according to Thomson Reuters I/B/E/S/.
We believe the worst is behind us, although a recovery in Western economies could be gradual and uneven, Blackstone's CEO Stephen Schwarzman said in a statement, noting the recent market turbulence in January and February.
Blackstone has had a difficult time exiting investments by taking them public during the recent volatility in the markets.
Earlier in February, Blackstone-backed airline ticketing company Travelport LLC called off its $1.78 billion London listing, postponing what would have been the biggest IPO in London in two years.
Merlin Entertainments, the Blackstone-owned theme park operator that was talking to bankers in October said it has no near-term plans to go public.
But one of its companies, Graham Packaging Co Inc
Blackstone said it would pay a quarterly distribution of 30 cents per unit.
(Editing by Maureen Bavdek)