![]() Shares of Blackstone were down 2.4% to $93.59 in early afternoon trading on Wednesday. Redemption requests are expected to remain at an elevated level but will normalize over time as Blackstone works through its backlog, Blackstone President Jonathan Gray had said during an analyst earnings call last week. The fulfilled withdrawal requests also represents 2% of the net asset value of fund, the firm said.īlackstone began exercising its right to block investor withdrawals from BREIT from November last year after it received a deluge of requests that exceeded a preset 5% of the net asset value of the fund. Feb 1 (Reuters) - Blackstone Inc (BX.N) said on Wednesday it had blocked withdrawals from its $69 billion real estate income trust (BREIT) in January, as the private equity firm faced a surge in redemption requests from investors looking to cash out.īREIT said it fulfilled redemption requests of about $1.3 billion in January, representing 25% of the approximately $5.3 billion of the total withdrawal requests it had received during the month. ![]()
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