Alex Wong/Getty Images News
Blackstone (NYSE: BX) CEO and Co-founder Stephen Schwarzman said Wednesday he found ongoing concerns about the $70B real estate investment trust fund to be “disturbing,” while pointing out that the private equity fund has done well. REIT sales.
The company recently began to suspend discounts on the Blackstone Real Estate Investment Trust (BREIT), which was launched in 2017 for wealthy investors, after receiving redemption requests last month of more than 5% of the asset value from investors concerned about long-term prospects. stock market.
Schwarzman explained that the bailouts “came from Asia,” he said on the second day of Goldman Sachs’ corporate conference in New York. “It didn’t take me long to notice that the Hang Seng Index (HSI) fell by 40%. In other words, the story about BREIT has nothing to do with its fundamentals, but instead Asian investors in this market are looking for money because of the economic crisis. , he added.
Overall, the move caused Barclays to take the bulls out of Blackstone (BX) last week. Also, the Seeking Alpha Contributor Weighing Machine argued that BREIT’s promotion requests “may be significantly delayed. [BX’s] economic growth relative to value. “
Fellow SA analyst Jussi Askola rated Blackstone (BX) as a Buy, defending BREIT’s exceptional growth in operating income.
