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UC Investments to invest additional $500M in BREIT common shares
The Fly

UC Investments to invest additional $500M in BREIT common shares

The Office of the Chief Investment Officer of the Regents of the University of California and Blackstone (BX) "announced an expansion of their long-term strategic venture. UC Investments will acquire an additional $500M in Blackstone Real Estate Income Trust, Inc. Class I common shares with fees and terms consistent with existing BREIT shareholders. This follows the $4 billion investment by UC Investments into BREIT announced on January 3, 2023, bringing its total investment in BREIT to $4.5 billion. This new investment, which is expected to close March 1, 2023 at BREIT’s public offering price on that date, will have the same structure, terms, and fees as UC Investments’ initial $4 billion investment, including an effective 6-year minimum hold period, and Blackstone will contribute an incremental $125 million of its current BREIT holdings into the strategic venture."

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