Blackstone posts third-quarter loss as asset values drop

Blackstone Group LP , the world's largest alternative asset manager, reported its first quarterly economic net loss in four years on Thursday, as the stock market plunge weighed on the value of its portfolio, even as it generated more cash. Blackstone's private equity, real estate, corporate credit and hedge fund assets all declined in value. Blackstone said economic net income (ENI), which takes into account the mark-to-market valuation of its portfolio, was a loss of $416 million in the quarte