Investing
Blackstone’s $69 Billion Real Estate Fund Hit Monthly Redemption Limit in January
- BREIT fulfilled withdrawal requests for 2% of net asset value
- Gray has warned that firm is working through request backlog
Blackstone headquarters in New York.
Photographer: Angus Mordant/BloombergThis article is for subscribers only.
Blackstone Inc.’s $69 billion real estate trust hit a monthly redemption limit in January, as the firm’s crown jewel continues to wrestle with a line of investors seeking to get money out.
Blackstone Real Estate Income Trust told investors Wednesday that it fulfilled repurchase requests for 2% of its net asset value. That accounted for about 25% of what investors wanted to pull out, according to a letter. January repurchase requests were north of $5 billion, according to Bloomberg calculations.