(Bloomberg) — Blackstone Inc. is getting a $4 billion money infusion from the University of California for its large actual property fund Blackstone Real Estate Income Trust, which has confronted heightened strain from traders pulling money.
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UC Investments will make investments the $4 billion within the Class I widespread shares, the biggest present share class, in line with a press release on Tuesday.
BREIT, which was designed for rich particular person traders, has struggled in latest months and been compelled to restrict withdrawals, elevating considerations about Blackstone’s rising reliance on the mass prosperous, who could also be extra fickle in unstable markets than the agency’s conventional institutional investor base. The redemption restrictions have prompted queries from the Securities and Exchange Commission throughout the broader trade.
The University of California’s funding arm, which oversees $150 billion, reached out to Blackstone after media stories about BREIT. The deal will present…
2023-01-03 08:56:23 Blackstone’s BREIT Gets $4 Billion California Injection
Article from finance.yahoo.com