Blackstone Fund Suffers Impacts of $4.5 Billion Withdrawal Requests Despite Property Push


Withdrawal requests at the $70bn Blackstone Real Estate Income Trust (Breit) rose 15 per cent in March after the collapse of Silicon Valley Bank, to $4.5bn. This resulted in the fifth consecutive month that the group has limited redemptions for Breit. At the Spring Place private members club in Manhattan, Blackstone had a meeting with more than 200 investors on March 8 and 9 to show the forecast of investment opportunities from the US financial upheaval. The executives mentioned that regional banks will be cutting back on financing because of the high rate of deposit outflows and that this could result in leading real estate properties providing high rents.

Blackstone Group is an American multinational private investment firm based out of New York. It specializes in private equity, credit and hedge fund investment strategies. It is a giant corporation whose clients include pension funds, endowments, foundations, and even governments and sovereign wealth funds. The firm is led by its chairman and CEO Stephen A. Schwarzman and managed by President and COO Jonathan D. Gray.

Jonathan D. Gray is the President and Chief Operating Officer of Blackstone. He has held this position since 2011. He is responsible for the companies’ investments activities, strategy and operations. He is a key part of the decision making team and with his team makes and executes the firm’s strategies. He drives the vision and execution of the firm’s strategies and all its investments. He also serves on various boards both inside and outside of Blackstone.