

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
1.0844
+0.0077 (+0.72%)
Summary
NeutralMoving Avg:
Buy (11)
Sell (1)
Indicators:
Buy (3)
Sell (4)
EUR/USD
1.0844
+0.0077 (+0.72%)
Summary
NeutralMoving Avg:
Buy (11)
Sell (1)
Indicators:
Buy (3)
Sell (4)
GBP/USD
1.2282
+0.0067 (+0.55%)
Summary
BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (4)
Sell (4)
USD/JPY
131.93
-0.56 (-0.43%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (4)
Sell (5)
AUD/USD
0.6714
+0.0046 (+0.69%)
Summary
NeutralMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (2)
Sell (8)
USD/CAD
1.3704
-0.0009 (-0.07%)
Summary
BuyMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (6)
Sell (1)
EUR/JPY
143.04
+0.38 (+0.26%)
Summary
NeutralMoving Avg:
Buy (3)
Sell (9)
Indicators:
Buy (6)
Sell (2)
EUR/CHF
0.9973
+0.0043 (+0.44%)
Summary
NeutralMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (3)
Sell (5)
Gold Futures
1,959.35
+18.25 (+0.94%)
Summary
NeutralMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (1)
Sell (5)
Silver Futures
22.885
+0.460 (+2.05%)
Summary
SellMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (1)
Sell (6)
Copper Futures
4.0480
+0.0540 (+1.35%)
Summary
↑ SellMoving Avg:
Buy (2)
Sell (10)
Indicators:
Buy (0)
Sell (6)
Crude Oil WTI Futures
70.47
+0.80 (+1.15%)
Summary
SellMoving Avg:
Buy (5)
Sell (7)
Indicators:
Buy (1)
Sell (5)
Brent Oil Futures
76.24
+0.92 (+1.22%)
Summary
↑ SellMoving Avg:
Buy (5)
Sell (7)
Indicators:
Buy (2)
Sell (6)
Natural Gas Futures
2.178
-0.170 (-7.24%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (9)
US Coffee C Futures
177.53
-2.77 (-1.54%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (7)
Euro Stoxx 50
4,195.70
+14.10 (+0.34%)
Summary
↑ SellMoving Avg:
Buy (1)
Sell (11)
Indicators:
Buy (1)
Sell (6)
S&P 500
4,007.21
+4.34 (+0.11%)
Summary
SellMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (1)
Sell (7)
DAX
15,216.19
+20.85 (+0.14%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (8)
FTSE 100
7,566.84
+30.62 (+0.41%)
Summary
NeutralMoving Avg:
Buy (5)
Sell (7)
Indicators:
Buy (5)
Sell (2)
Hang Seng
19,591.43
+332.67 (+1.73%)
Summary
SellMoving Avg:
Buy (5)
Sell (7)
Indicators:
Buy (1)
Sell (4)
US Small Cap 2000
1,780.20
+2.46 (+0.14%)
Summary
↑ SellMoving Avg:
Buy (4)
Sell (8)
Indicators:
Buy (1)
Sell (8)
IBEX 35
9,009.30
-40.10 (-0.44%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (2)
Sell (6)
BASF SE NA O.N.
46.560
+0.390 (+0.84%)
Summary
↑ BuyMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (8)
Sell (1)
Bayer AG NA
56.63
-0.55 (-0.96%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (7)
Allianz SE VNA O.N.
208.10
-0.20 (-0.10%)
Summary
NeutralMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (5)
Sell (1)
Adidas AG
141.00
-1.60 (-1.12%)
Summary
↑ BuyMoving Avg:
Buy (10)
Sell (2)
Indicators:
Buy (8)
Sell (0)
Deutsche Lufthansa AG
9.878
-0.051 (-0.51%)
Summary
↑ BuyMoving Avg:
Buy (9)
Sell (3)
Indicators:
Buy (8)
Sell (0)
Siemens AG Class N
144.94
+2.16 (+1.51%)
Summary
BuyMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (11)
Sell (0)
Deutsche Bank AG
9.643
-0.206 (-2.09%)
Summary
↑ SellMoving Avg:
Buy (1)
Sell (11)
Indicators:
Buy (4)
Sell (5)
EUR/USD | 1.0844 | Neutral | |||
GBP/USD | 1.2282 | Buy | |||
USD/JPY | 131.93 | ↑ Sell | |||
AUD/USD | 0.6714 | Neutral | |||
USD/CAD | 1.3704 | Buy | |||
EUR/JPY | 143.04 | Neutral | |||
EUR/CHF | 0.9973 | Neutral |
Gold | 1,959.35 | Neutral | |||
Silver | 22.885 | Sell | |||
Copper | 4.0480 | ↑ Sell | |||
Crude Oil WTI | 70.47 | Sell | |||
Brent Oil | 76.24 | ↑ Sell | |||
Natural Gas | 2.178 | ↑ Sell | |||
US Coffee C | 177.53 | ↑ Sell |
Euro Stoxx 50 | 4,195.70 | ↑ Sell | |||
S&P 500 | 4,007.21 | Sell | |||
DAX | 15,216.19 | ↑ Sell | |||
FTSE 100 | 7,566.84 | Neutral | |||
Hang Seng | 19,591.43 | Sell | |||
Small Cap 2000 | 1,780.20 | ↑ Sell | |||
IBEX 35 | 9,009.30 | ↑ Sell |
BASF | 46.560 | ↑ Buy | |||
Bayer | 56.63 | ↑ Sell | |||
Allianz | 208.10 | Neutral | |||
Adidas | 141.00 | ↑ Buy | |||
Lufthansa | 9.878 | ↑ Buy | |||
Siemens AG | 144.94 | Buy | |||
Deutsche Bank AG | 9.643 | ↑ Sell |
Mua/Bán 1 chỉ SJC # So hôm qua # Chênh TG | |
---|---|
SJC Eximbank | 6,650/ 6,700 (0/ 0) # 1,156 |
SJC HCM | 6,645/ 6,715 (0/ 0) # 1,171 |
SJC Hanoi | 6,645/ 6,717 (0/ 0) # 1,173 |
SJC Danang | 6,645/ 6,717 (0/ 0) # 1,173 |
SJC Nhatrang | 6,645/ 6,717 (0/ 0) # 1,173 |
SJC Cantho | 6,645/ 6,717 (0/ 0) # 1,173 |
Cập nhật 23-03-2023 01:16:41 | |
Xem lịch sử giá vàng SJC: nhấn đây! |
ↀ Giá vàng thế giới | ||
---|---|---|
$1,958.56 | +15.64 | 0.80% |
ʘ Giá bán lẻ xăng dầu | ||
---|---|---|
Sản phẩm | Vùng 1 | Vùng 2 |
RON 95-V | 23.960 | 24.430 |
RON 95-III | 23.030 | 23.490 |
E5 RON 92-II | 22.020 | 22.460 |
DO 0.05S | 19.300 | 19.680 |
DO 0,001S-V | 20.560 | 20.970 |
Dầu hỏa 2-K | 19.460 | 19.840 |
ↂ Giá dầu thô thế giới | |||
---|---|---|---|
WTI | $70.58 | -1.08 | -1.56% |
Brent | $76.20 | -1.23 | -1.64% |
$ Tỷ giá Vietcombank | ||
---|---|---|
Ngoại tệ | Mua vào | Bán ra |
USD | 23.320,00 | 23.690,00 |
EUR | 24.665,48 | 26.068,68 |
GBP | 28.005,21 | 29.224,11 |
JPY | 172,79 | 183,08 |
KRW | 15,55 | 18,96 |
Cập nhật lúc 18:50:07 22/03/2023 Xem bảng tỷ giá hối đoái |