Stephen Schwarzman, chairman and chief executive of The Blackstone Group, warned that it has become difficult to structure the largest leveraged transactions as the private equity company made a net loss of $113m (€77.6m) for the third quarter.

Blackstone attributed the loss to "the impact of $803m of non-cash charges" related to equity-based compensation. Blackstone shares closed at $24.28 on Friday. The company went public in June, selling shares at $31.