

By Chibuike Oguh
(Reuters) -Blackstone Inc on Tuesday said it had secured a $4 billion investment from the University of California in its unlisted real estate income trust (BREIT) that has been plagued by investor redemptions, after the private equity firm committed $1 billion to backstop the university's returns in the fund.
In an unprecedented move, Blackstone (NYSE:BX) exercised its right in November to limit redemptions in the $69 billion BREIT after it received investor requests for redemptions exceeding 5% of the fund's net asset value. It blamed investors in Asia facing a cash crunch because of the market turmoil for the move.
While the BREIT's returns have remained robust -- it gained 8.4% net of fees in 2022 versus a 26% decline to the publicly traded Dow Jones U.S. Select REIT Total Return Index -- Blackstone has been seeking to convince investors that such outperformance will continue given a rise in interest rates that is weighing on large swathes of the real estate sector.
UC Investments, the University of California's investment arm, agreed to hold its investment in BREIT for at least six years. In exchange, Blackstone will offer $1 billion of its own investment in BREIT as collateral, allowing for that money to go to UC Investments to make up for any shortfall if the university does not achieve a minimum 11.25% annualized net return through January 2028.
The agreement represents a show of confidence in BREIT at a time when more capital in the fund wants out. Blackstone disclosed on Tuesday that redemption demand from investors in the REIT totaled about $3.8 billion in December, up from about $3 billion in November when it raised the gates. Blackstone decided to allow investors to redeem $151 million in December, meeting just 4% of the demand to cash out.
Blackstone said it will receive 5% of all profit generated above the 11.25% threshold return guaranteed to UC Investments.
UC Investments will also pay to Blackstone the normal fees charged to all BREIT investors: 12.5% of profits and 1.25% of total investment as management fees.
Blackstone's shares were up 1.42% in afternoon trading on Tuesday. The stock has lost 43% of its value over the past 12 months.
BREIT, which is marketed to high net-worth investors rather than institutional clients like pension funds and insurance firms, has become a key part of Blackstone' asset management franchise, contributing more than 17% to the firm's earnings.
UC Investments has about $152 billion in assets under management.
EUR/USD
1.0734
+0.0004 (+0.04%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (7)
Sell (0)
EUR/USD
1.0734
+0.0004 (+0.04%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (7)
Sell (0)
GBP/USD
1.2034
+0.0018 (+0.15%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (5)
Sell (1)
USD/JPY
132.42
-0.23 (-0.17%)
Summary
↑ SellMoving Avg:
Buy (2)
Sell (10)
Indicators:
Buy (3)
Sell (6)
AUD/USD
0.6892
+0.0011 (+0.16%)
Summary
SellMoving Avg:
Buy (4)
Sell (8)
Indicators:
Buy (1)
Sell (5)
USD/CAD
1.3434
-0.0011 (-0.09%)
Summary
NeutralMoving Avg:
Buy (5)
Sell (7)
Indicators:
Buy (4)
Sell (4)
EUR/JPY
142.15
-0.18 (-0.13%)
Summary
NeutralMoving Avg:
Buy (5)
Sell (7)
Indicators:
Buy (6)
Sell (1)
EUR/CHF
0.9953
-0.0007 (-0.07%)
Summary
SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (2)
Sell (1)
Gold Futures
1,882.90
+3.40 (+0.18%)
Summary
BuyMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (4)
Sell (3)
Silver Futures
22.308
+0.071 (+0.32%)
Summary
SellMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (1)
Sell (7)
Copper Futures
4.0410
+0.0040 (+0.10%)
Summary
↑ SellMoving Avg:
Buy (3)
Sell (9)
Indicators:
Buy (0)
Sell (8)
Crude Oil WTI Futures
74.43
+0.32 (+0.43%)
Summary
NeutralMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (3)
Sell (4)
Brent Oil Futures
81.40
+1.46 (+1.83%)
Summary
↑ BuyMoving Avg:
Buy (11)
Sell (1)
Indicators:
Buy (7)
Sell (0)
Natural Gas Futures
2.493
+0.036 (+1.47%)
Summary
↑ SellMoving Avg:
Buy (2)
Sell (10)
Indicators:
Buy (0)
Sell (8)
US Coffee C Futures
176.35
+3.55 (+2.05%)
Summary
NeutralMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (3)
Sell (3)
Euro Stoxx 50
4,205.45
-52.53 (-1.23%)
Summary
NeutralMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (3)
Sell (5)
S&P 500
4,111.08
-25.40 (-0.61%)
Summary
↑ BuyMoving Avg:
Buy (11)
Sell (1)
Indicators:
Buy (8)
Sell (1)
DAX
15,345.91
-130.52 (-0.84%)
Summary
NeutralMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (1)
Sell (5)
FTSE 100
7,836.71
-65.09 (-0.82%)
Summary
NeutralMoving Avg:
Buy (10)
Sell (2)
Indicators:
Buy (4)
Sell (4)
Hang Seng
21,222.16
-438.31 (-2.02%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (6)
Sell (0)
US Small Cap 2000
1,954.80
-30.73 (-1.55%)
Summary
↑ SellMoving Avg:
Buy (1)
Sell (11)
Indicators:
Buy (2)
Sell (5)
IBEX 35
9,159.20
-66.40 (-0.72%)
Summary
↑ SellMoving Avg:
Buy (2)
Sell (10)
Indicators:
Buy (1)
Sell (6)
BASF SE NA O.N.
52.950
-1.090 (-2.02%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (9)
Bayer AG NA
58.19
+1.51 (+2.66%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (9)
Allianz SE VNA O.N.
219.30
-1.45 (-0.66%)
Summary
NeutralMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (3)
Sell (2)
Adidas AG
155.36
-5.70 (-3.54%)
Summary
↑ SellMoving Avg:
Buy (5)
Sell (7)
Indicators:
Buy (2)
Sell (7)
Deutsche Lufthansa AG
9.803
-0.099 (-1.00%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (5)
Sell (2)
Siemens AG Class N
142.96
-2.06 (-1.42%)
Summary
SellMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (3)
Sell (6)
Deutsche Bank AG
11.356
-0.174 (-1.51%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (8)
Sell (0)
EUR/USD | 1.0734 | ↑ Buy | |||
GBP/USD | 1.2034 | ↑ Buy | |||
USD/JPY | 132.42 | ↑ Sell | |||
AUD/USD | 0.6892 | Sell | |||
USD/CAD | 1.3434 | Neutral | |||
EUR/JPY | 142.15 | Neutral | |||
EUR/CHF | 0.9953 | Sell |
Gold | 1,882.90 | Buy | |||
Silver | 22.308 | Sell | |||
Copper | 4.0410 | ↑ Sell | |||
Crude Oil WTI | 74.43 | Neutral | |||
Brent Oil | 81.40 | ↑ Buy | |||
Natural Gas | 2.493 | ↑ Sell | |||
US Coffee C | 176.35 | Neutral |
Euro Stoxx 50 | 4,205.45 | Neutral | |||
S&P 500 | 4,111.08 | ↑ Buy | |||
DAX | 15,345.91 | Neutral | |||
FTSE 100 | 7,836.71 | Neutral | |||
Hang Seng | 21,222.16 | ↑ Buy | |||
Small Cap 2000 | 1,954.80 | ↑ Sell | |||
IBEX 35 | 9,159.20 | ↑ Sell |
BASF | 52.950 | ↑ Sell | |||
Bayer | 58.19 | ↑ Sell | |||
Allianz | 219.30 | Neutral | |||
Adidas | 155.36 | ↑ Sell | |||
Lufthansa | 9.803 | ↑ Buy | |||
Siemens AG | 142.96 | Sell | |||
Deutsche Bank AG | 11.356 | ↑ Buy |
Mua/Bán 1 chỉ SJC # So hôm qua # Chênh TG | |
---|---|
SJC Eximbank | 6,640/ 6,700 (0/ 0) # 1,366 |
SJC HCM | 6,640/ 6,720 (0/ 0) # 1,389 |
SJC Hanoi | 6,640/ 6,722 (0/ 0) # 1,391 |
SJC Danang | 6,640/ 6,722 (0/ 0) # 1,391 |
SJC Nhatrang | 6,640/ 6,722 (0/ 0) # 1,391 |
SJC Cantho | 6,640/ 6,722 (0/ 0) # 1,391 |
Cập nhật 07-02-2023 07:52:42 | |
Xem lịch sử giá vàng SJC: nhấn đây! |
ↀ Giá vàng thế giới | ||
---|---|---|
$1,870.73 | +5.36 | 0.29% |
ʘ Giá bán lẻ xăng dầu | ||
---|---|---|
Sản phẩm | Vùng 1 | Vùng 2 |
RON 95-V | 24.000 | 24.480 |
RON 95-III | 23.140 | 23.600 |
E5 RON 92-II | 22.320 | 22.760 |
DO 0.05S | 22.520 | 22.970 |
DO 0,001S-V | 24.280 | 24.760 |
Dầu hỏa 2-K | 22.570 | 23.020 |
ↂ Giá dầu thô thế giới | |||
---|---|---|---|
WTI | $74.65 | +0.11 | 0.15% |
Brent | $81.21 | 0 | 0% |
$ Tỷ giá Vietcombank | ||
---|---|---|
Ngoại tệ | Mua vào | Bán ra |
USD | 23.270,00 | 23.640,00 |
EUR | 24.669,21 | 26.050,56 |
GBP | 27.543,62 | 28.718,11 |
JPY | 172,56 | 182,68 |
KRW | 16,30 | 19,86 |
Cập nhật lúc 07:45:59 07/02/2023 Xem bảng tỷ giá hối đoái |