Blackstone posts $29M loss, touts relative strength of real estate holdings

Blackstone slipped into the red in the second quarter as macroeconomic stressors including inflation and rising interest rates took a toll on its portfolio The investment firm reported a net loss of $29.4 million, or 4 cents a share, for the quarter, down from its $1.3 billion (or $1.82 per share) profit in the same period last year. Despite the decline, executives on an earnings call Thursday stressed the performance of Blackstone’s real estate holdings