Blackstone Inc 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.
Signage is seen at the Blackstone Group headquarters in New York City, U.S., January 18, 2023. REUTERS/Jeenah Moonsaid on Wednesday it had blocked withdrawals from its $69 billion real estate income trust in January, as the private equity firm faced a surge in redemption requests from investors looking to cash out.
BREIT 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. The fulfilled withdrawal requests also represents 2% of the net asset value of fund, the firm said.
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