Cheniere returned even more than 16% last year while Gates, a maker of vehicle parts, returned around 4%. Blackstone had no remark on the private-equity returns, but the company has actually stressed in the past that returns should be examined over a multiyear period. Blackstone continued to deploy substantial money in new private-equity offers in 2015. Blackstone’s distressed-debt returns were weak last year at negative 4.4%, while the firm’s core-plus
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