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Blackstone President Says BREIT Still Has “Backlog” Of Redemption Requests

BY TYLER DURDEN

The $68 billion Blackstone Real Estate Income Trust (BREIT) has failed to stem soaring redemption requests from high-net-worth investors, Blackstone President Jonathan Gray told Financial Times in an interview.

Gray said it was “a little early” to say redemption requests of the nontraded real-estate investment trust were slowing.

“We have a backlog from November and December,” he said, adding, “I will say the tone of the conversations with our advisers is much improved.”

Perhaps the conversations with advisers improved after Blackstone sent an email to them with talking points to calm their anxious investors. One money we spoke with said the move by Blackstone to send a Q&A sheet to calm clients was ‘unprecedented.’

READ FULL ARTICLE HERE…| ZeroHedge

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