Blackstone Group Inc ($BX@US) said on Thursday that its distributable earnings more than doubled in the 3rd quarter, reaching a new record high. The largest manager of alternative assets has performed well due to low interest rates and economic recovery policies. Earnings per share rose 112% to $1.28 per share, and the firm cashed out $21.8 billion in assets during the 3rd quarter. The move included selling off stock in supply chain software firm Blue Yonder to electronics conglomerate Panasonic ($PCRFY@Japan). The company also invested $6.7 billion to take QTS Realty Trust Inc private and $6 billion to acquire Home Partners of America. Blackstone stock was up one and a half percent in early trading.
