Investments by private equity firms like Blackstone in real estate are unique to the US market.
(Photo: dpa)
Dusseldorf The multi-billion real estate fund of the US investment company Blackstone receives support from the University of California. As the private equity house announced on Tuesday, the university is investing four billion dollars in the Blackstone Real Estate Income Trust (“Breit”). Blackstone President Jonathan Gray said on Bloomberg TV: “This is a great achievement for us.”
Blackstone can thus absorb part of its outflows from the fund. In December, the company had to stop repayments from its $ 69 billion real estate fund. Investors had previously tried to pull too much money out of the fund.
Due to too many redemption requests, the return had been limited, the private equity house had announced. Only 43 percent of the applications were approved in November.
Investments by private equity firms like Blackstone in real estate are unique to the US market. In the past two years in particular, institutional investors and brokerage houses such as Redfin have entered the lucrative market for single-family homes.
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