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☆ Blackstone REIT blocks investor withdrawals in January
▼ + stars: | 2023-02-01 | by ( Chibuike Oguh | ) www.reuters.com time to read: +2 min

The fulfilled withdrawal requests also represents 2% of the net asset value of fund, the firm said. Blackstone 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. Shares of Blackstone were down 2.4% to $93.59 in early afternoon trading on Wednesday. Last month, Blackstone announced that the University of California would invest $4 billion in BREIT shares after the firm committed $1 billion to backstop the university's returns in the fund. The university later increased its investment by another $500 million, bringing the total value of its BREIT shares to $4.5 billion.

☆ Blackstone's grand ambitions for attracting retail money faces a hiccup
▼ + stars: | 2022-12-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

It's also a key part of the firm's push to attract retail investors, Insider's Rebecca Ungarino reports. Bloomberg previously reported that both firm CEO Steve Schwarzman and President Jon Gray have each put $100 million of their own money into BREIT since July. But as nice as it is to have the bosses' money backing your fund, that's not the target audience. And while there is a lot of upside to attracting retail investors — its private wealth arm has quadrupled in size to $233 billion in assets in four years — there are risks, too. Click here to read more about the recent headwinds facing Blackstone's big bet to attract retail money.

Nonetheless, they fueled investor concerns about the future of the REIT, which makes up about 17% of Blackstone's earnings. "People are taking profits at the value Blackstone says their REIT shares are at," said Snyder. As a result, the REIT allowed investors in November to redeem $1.3 billion, equivalent to approximately 43% of investors' repurchase requests. Some analysts said Blackstone's REIT runs the risk of getting caught in a spiral of selling assets to meet redemptions if it cannot regain the trust of its investors. On Blackstone's third-quarter earnings call in October, Gray blamed REIT redemptions on market volatility, which he said had driven away individual investors from active equity and fixed income funds.

☆ From Apollo to DZ Bank, funds snap up bargains in UK pension scramble
▼ + stars: | 2022-11-18 | by ( Nell Mackenzie | ) www.reuters.com time to read: +4 min

REUTERS/Hannah McKay/File PhotoSummarySummary Companies Pension funds still need to raise cashCredit funds pick up bargains from pension fund salesSome credit funds already sitting on profitsLONDON, Nov 18 (Reuters) - Credit funds at Blackstone, Apollo, DZ Bank and Astra Asset Management picked up bargains from UK pension funds during their scramble for cash, and some say pension schemes are still offloading assets as pressures persist. Hedge funds and private equity firms have taken advantage of the forced sales to snap up deals - including certain portions of collateralised loan obligations (CLOs), securities that pension funds invest in. The credit funds are already sitting on juicy profits on some of these trades. This is because these pension funds must match their portfolios to what they will owe retired members. Even though the markets have calmed, some pension funds are still dealing with the implications," said Mody.

HONG KONG, Oct 31 (Reuters) - Hong Kong aims to restore its reputation as a global financial hub by playing host to a bevy of top Wall Street executives this week, defying critics who say a talent crunch and geopolitical tension will hobble its ambition. Alongside the main theme of "navigating through uncertainty", the summit is widely expected to focus on whether Hong Kong can remain a global financial centre after almost three years of border controls and pandemic restrictions. COVID-19 CONTROLSThe two-day summit, organised by the Hong Kong Monetary Authority (HKMA) - the de-facto central bank - has suffered at least two marquee participants dropping out after contracting COVID-19. Those who make it will look for reassurances of the city returning to pre-pandemic normalcy, making it easier for them to move talent to Hong Kong. Reporting by Scott Murdoch in Sydney and Kane Wu and Selena Li in Hong Kong; Editing by Sumeet Chatterjee and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Blackstone's president, Jonathan Gray, says rental properties are still a smart investment as developers slash supply, keeping rents high
▼ + stars: | 2022-10-20 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +3 min

Gray said this is good news for Blackstone, which has invested heavily in multifamily real estate. But as real estate isn't immune from the rising interest rates rocking most financial markets, multifamily investments that grew significantly last year are still facing headwinds. Jonathan Gray, Blackstone's president and chief operating officer, says there's no need to panic, though, given other economic factors now in play. He argued that demand for rental housing isn't going anywhere and that with supply further constrained, rents can continue to rise. Gray described rental properties as "beneficial" because it doesn't cost much to invest in them after they're built.

☆ The Fed cannot stop hiking rates until there are major job losses, says Jim Cramer
▼ + stars: | 2022-09-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed cannot stop hiking rates until there are major job losses, says Jim Cramer'Mad Money' host Jim Cramer and the 'Squawk on the Street' team discuss the Federal Reserve's efforts to tamp down inflation following comments from Blackstone's Jonathan Gray.

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