The University of California has increased by $500M a $4B investment it made earlier this month into Blackstone Real Estate Income Trust as BREIT conceded that limits it placed on investor withdrawals in November and December had not stopped an exodus from its $69B fund.
In an interview with the Financial Times on Thursday after BREIT reported Q4 results showing a 42% plunge in earnings, Jon Gray, president of Blackstone, said it was too early to say whether redemption requests from fund investors had slowed in the wake of its withdrawal limits.
"We have a backlog from November and December," Gray said.
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