Blackstone Group has reported a first-quarter profit, earning $568.1 million in the quarter on $1.2 billion in revenue, The Wall Street Journal reports. The private equity firm’s assets increased to a record $150 billion.

The company will retain its realized investment gains and use them to form a renewable pool of capital to seed new products and other company developments. Blackstone is raising a real-estate fund, which will have a similar size to its current $10.9 billion BREP VI fund.

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