Blackstone Group LP said in September it had $64 billion in so-called perpetual investment vehicles and that, together with other long-term funds, they had an average of 12 years remaining and were responsible for 90% of the firm's revenue over the prior 12 months. "Private-Equity Firms Create Funds That Are Built to Last" on Jan. 1, 2019, incorrectly stated that the private-equity firm had $64 billion in perpetual vehicles or long-term funds with an average of 12 years remaining, in the 7th paragraph. (Jan. 3, 2019)

(END) Dow Jones Newswires

January 03, 2019 19:47 ET (00:47 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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