Blackstone, the world's biggest alternative asset manager, posted stronger-than-expected third-quarter earnings on Thursday as its real estate, private equity and credit investments posted sharp turnarounds. The buoyant results resonated with the performance of some of Blackstone's peers, underlining the importance of rebounding oil prices and a steady U.S. stock market in shoring up investment returns. Performances across all of Blackstone's main businesses — buyouts, real estate, hedge funds and credit — improved markedly compared with year ago, when a plunging U.S. stock market pushed investments into the red.