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Blackstone Posts Profit

Blackstone Group posted quarterly profit as its fourth quarter economic net income (ENI) was $513 million, up from $329 million a year earlier. Adjusted ENI was 46 cents per share, up from 29 cents a year ago and 16 cents above analysts' average forecast. The Private equity and real estate investor said that in 2010 it made nearly $10 billion of new investments. At the end of the year it had $30 billion of uninvested capital, or "dry powder”.