UC Investments to invest $4B in Blackstone Real Estate Income Trust

The Office of the Chief Investment Officer of the Regents of the University of California, or "UC Investments," and Blackstone announced a long-term strategic venture in which UC Investments will invest $4 billion in Blackstone Real Estate Income Trust, or "BREIT," Class I common shares, the largest existing share class. Blackstone will then contribute $1 billion of its current BREIT holdings as part of a strategic venture with UC Investments. Stephen Schwarzman, Chairman, CEO and Co-Founder of Blackstone, said, "Blackstone is committed to bringing the highest quality alternative investment products to individual investors to improve their returns. UC Investments’ $4 billion investment is validation of this strategy, and we are proud to add the UC system to the more than 200,000 investors already benefitting from BREIT. UC Investments’ commitment builds upon its 15-year partnership with Blackstone and gives BREIT increased balance sheet flexibility and capital during an opportune deployment period for all our investors."