University of California’s fund manager said on Tuesday it will invest $4 billion in Blackstone Inc’s (BX.N) real estate fund, barely a month after the asset manager limited withdrawals from the fund due to a surge in redemptions.
REITs, one of the core strategies that helped Blackstone become the world’s biggest alternative asset manager, suffered a setback in December as investors concerned about China’s economic prospects and turmoil in the Asian markets withdrew money at a frenetic pace from the real estate fund.
University of California’s fund manager said on Tuesday it will invest $4 billion in Blackstone Inc’s (BX.N) real estate fund, barely a month after the asset manager limited withdrawals from the fund due to a surge in redemptions.
REITs, one of the core strategies that helped Blackstone become the world’s biggest alternative asset manager, suffered a setback in December as investors concerned about China’s economic prospects and turmoil in the Asian markets withdrew money at a frenetic pace from the real estate fund.
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