US buyout house The Blackstone Group has accumulated $29bn (€20.2bn) in unspent capital commitments, the most in its history, according to the group's results for the second quarter, as the total amount of “dry powder” in the private equity industry continues to grow.

The figure emerged in Blackstone's results for the three months to the end of June, released yesterday, in which the group reported a net loss of $164m over the period, beating analysts' estimates.