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Blackstone’s real estate fund gets $4bn California cash injection

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The deal will give the $68bn BREIT a longer-term source of capital

The University of California’s investment arm, which oversees $150 billion, reached out to Blackstone after media reports about BREIT’s difficulties.

The deal could prove to be a major boost to BREIT in one of its first challenging markets. The transaction is a new tool for BREIT in striking a deal with institutional capital, Gray told CNBC in an interview. “Investors can benefit from stable cash-flowing investments that can grow with high global inflation, Jagdeep Singh Bachher, the University of California’s chief investment officer, said in the statement.

 

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