Previously, according to Reuters , due to the surge in redemption requests from investors since November, Blackstone Group passively restricted in batches, with a scale of up to 125 billion (about 870 billion yuan) real estate investment fund BRIET redemption.
caused a large number of panic among investors, causing a surge in redemption requests from investors in early December, and quickly reached the upper limit set last week.
The world's largest special asset investment institution Blackstone has also suffered the worst bank run in history.
and after this, less than 6 days (December 7).
Blackstone Group unilaterally announced that : the redemption amount will be reduced from 2% to 0.3% in December and will stop approving investors' redemption requests.
This also means that since then, BREIT fund has been completely unredeemable ( can be bought, but cannot be sold at all).
BlackstoneStocks stock price also plummeted. has fallen by more than 22% in recent days, with a market value of more than US$45 billion compared with a historical high, nearly halfway (44%).
Blackstone Group's stock price time-sharing chart
At the same time, in order to deal with the bank run crisis, Blackstone Group finally began to sell its real estate under its name.
According to the latest news from Reuters, Blackstone has recovered a total of US$1.27 billion (about RMB 9 billion) by selling two real estates: MGM Hotel and Mandalay Bay Resort.
can be compared with the redemption amount in November that has exceeded US$1.3 billion, and it can no longer be fully covered, let alone the situation where has further deteriorated and has been redeemed in large quantities.
Blackstone Group is also completely in a passive state...
Even if Shu Shimin repeatedly explained this: its BRIET belongs to a real estate fund, investment strategy is already inclined to long-term, and restricting redemption in the short term is also a normal operation.
But for investors, what they are more worried about is whether they can still cash in after buying products in the future. The sudden stop of redemption will only make them firmly believe that Blackstone Group has experienced a serious crisis.
Don’t forget that there is another title for domestic investors for Blackstone above behavior.
is called a platform thunder...
can only say that it should be glad it is in the United States. If the banner is thrown and the competent authorities make a fuss, then what we will encounter will be bankruptcy.
