UC Investments forms $4b strategic venture with Blackstone

The Office of the Chief Investment Officer of the Regents of the University of California (UC Investments) and Blackstone announced a long-term strategic venture in which UC Investments will invest $4 billion in Blackstone Real Estate Income Trust, Inc. (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.

“Blackstone is committed to bringing the highest-quality alternative investment products to individual investors to improve their returns,” said Stephen A. Schwarzman, chairman, CEO and co-founder of Blackstone. “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 benefiting from BREIT. UC Investments’ commitment builds upon its 15-year partnership with Blackstone and gives BREIT increased balance sheet flexibility and capital during