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March 3, 2023
Blackstone blocked investor withdrawals from $71 billion REIT in February
March 3, 2023
Blackstone blocked investor withdrawals from $71 billion REIT in February
March 1, 2023 | Chibuike Oguh | Reuters
Blackstone Inc (BX.N) said on Wednesday it had blocked investors from cashing out their investments at its $71 billion real estate income trust (BREIT) as the private equity firm continues to grapple with a flurry of redemption requests.
BREIT said it fulfilled redemption requests of $1.4 billion in February, which represents only 35% of the approximately $3.9 billion in total withdrawal requests for the month, the firm said in a letter to investors.
The total BREIT redemption requests in February were 26% lower than the approximately $5.3 billion reached in January, the firm said.
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