The Blackstone Group (NYSE: BX) reported an economic net income of $703 million for 2009, up from the negative $1.2 billion it reported in 2008. For the fourth quarter, the firm reported a profit of $329 million. Blackstone's private equity portfolio companies began to recover in 2009, with two-thirds of the companies having experienced EBITDA growth and 40% experiencing revenue growth. The firm's PE funds distributed $1.6 billion to their limited partners, a 1.8x multiple on their original investments. Blackstone also commented that it now expects to close its $15 billion targeted Blackstone Capital Partners VI fund on June 30.