Blackstone reassured BREIT investors this week that it has rounded up the liquidity to stanch hemorrhaging redemption requests—at the same time it pursues new acquisitions.
During a shareholders meeting on Tuesday, Nadeem Meghji, Blackstone's head of Americas real estate, said BREIT has raised $14B in liquidity that would enable it to fulfill a rising tide of investor withdrawal requests from its fund while BREIT "goes on offense" hunting for new assets.
The $14B in liquidity includes a $4.5B infusion—made in two tranches last month—from the University of California.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
