Blackstone’s $69 Billion Real Estate Fund Hits Redemption Limit

Yahoo! Finance ^ | 12/1/2022 | Sridhar Natarajan and Dawn Lim

[millenial4freedom]

Blackstone Real Estate Income Trust Inc. has been facing withdrawal requests exceeding its quarterly limit, a major test for the one of the private equity firm’s most ambitious efforts to reach individual investors. The news, in a letter Thursday, sent Blackstone stock falling as much as 10%, the biggest drop since March. “Our business is built on performance, not fund flows, and performance is rock solid,” a Blackstone spokesperson said, adding that BREIT’s concentration in rental housing and logistics in the Sun Belt leaves it well positioned going forward. This year, the fund has piled into more than $20 billion worth of swaps contracts through November to counteract rising rates.

[Freedom_Is_Not_Free]

Look out below. Timberrrrrr.

[MtnClimber]

Go ESG Woke. Try to push the Great Reset (world-wide communism).

AND

GO

BROKE

[MtnClimber]

I would bail on Blackrock if I had investments there (And I don’t. Not stupid enough to do that!).

[cuban leaf]

I remember a friend of mine, in December of 1999, talking about how well his investment portfolio was doing. I haven’t talked to him since then.

I wonder how it was doing in March of 2020.

[BTerclinger]

Aren’t these guys majorly responsible for the inflated housing and rental market costs? IIRC they bought and kept buying, any time people were tying to buy a small affordable house somewhere they were bidding against these guys.

[BTerclinger]

one of the Blackstone founding billionaire partners is big on philanthropy to American schools, hospitals and libraries.

https://en.wikipedia.org/wiki/Stephen_A._Schwarzman#Philanthropy

Unfortunately, he’s also a big donor to the Chicomms:

“On April 21, 2013, Schwarzman announced a $100 million personal gift to establish and endow a scholarship program in China, Schwarzman Scholars, modeled after the Rhodes Scholarship program.[49] Schwarzman simultaneously announced a fundraising campaign with a goal of $200 million. The Schwarzman Scholars program is housed at Tsinghua University. Since its inception, the program has maintained ties to the United Front Work Department as well as other organizations and personnel affiliated with the Chinese Communist Party.”

[faithhopecharity]

Redemption limits make sense from the fund management perspective., especially if the fund invests in long- term or illiquid vehicles. The problem with “redemption limits” is that they create investor panic — as we are beginning to see with black rock.
This “could” easily explode — bears close watching

[EEGator]

I expect (I am nobody) next year the economic collapse will be global and far worse than 2008.

A solution of a global, centralized digital currency will be implemented.
Less freedom, more control.
Get your updated vaccines if you want to go anywhere...

[BipolarBob]

A solution of a global, centralized digital currency will be implemented. Less freedom, more control. Get your updated vaccines if you want to go anywhere...

Guess I'm staying home.

[BipolarBob]

bears close watching

ISWYDT

[EEGator]

Blaze of Glory:

https://www.youtube.com/watch?v=ylvuRp2IG-g

[Albion Wilde]

Maybe they'll have to sell a lot of that lower- and middle-class housing stock they've been buying up to inflate the prices of the market as a whole. Reminds me of the Hunt brothers' run on the silver market back in the early 80s.

[Flick Lives]

“Our business is built on performance, not fund flows, and performance is rock solid,” a Blackstone spokesperson said...

[catnipman]

redemption limits? who do they think they are, a crypto exchange?

[Vaduz]

Our business is built on performance, not fund flows.

I will pay you Thursday for a hamburger today

Wimpy