Blackstone Sees More Exits, Fewer Deals

  • Pace of realizations to step up
  • M&A market remains slow
  • Hot credit markets a negative

The Blackstone Group LP expects to step up its returns to investors this year, but the firm faces challenges in doing new deals, executives said Thursday as the New York mega-firm reported earnings that topped Wall Street’s expectations.

The firm scored $12.6 billion of realizations in 2012, with half of that coming in the fourth quarter, Stephen A. Schwarzman, Blackstone’s chief executive, told investors on an earnings call with stock analysts. That is likely to be the start ...

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