Blackstone earnings miss forecast in choppy markets

Earnings at Blackstone Group LP , the world's largest alternative asset manager, slowed more than expected in the first quarter as falling oil prices and choppy financial markets hit investments. Difficult market conditions also meant Blackstone was not able to sell some of its investments at a profit. Spooked by tumbling oil prices and scuppered financing for a handful of takeovers late last year, the market for high-yield bonds and loans, the lifeblood of private equity, has struggled to recov