Blackstone quarterly profit rises on asset sales, fee revenue
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(Reuters) - Blackstone Group Inc , the world's largest alternative asset manager, said on Thursday fourth-quarter distributable earnings rose 27% year-on-year, as strong growth in its real estate and hedge funds businesses offset declines in private equity and credit divisions.Distributable earnings - the cash available for paying dividends to shareholders - came in at $914 million in the quarter, translating to 72 cents per share, higher than the 67 cents per share that analysts forecast on..