The Blackstone Group LP reported fourth quarter and full year earnings results for the year 2012. For the quarter, the company reported distributable earnings were $449 million or $0.39 per common unit. Economic net income or ENI of $0.59 per unit for the fourth quarter. That's up from $0.42 in the fourth quarter of last year.

For the full year, ENI of $1.77 per unit for 2012 and that's up sharply from $1.38 in 2011. The improvement was driven mostly by growth in fee-related earnings due to higher asset levels, as well as greater appreciation in the underlying portfolio assets really across the board.