Blackstone Backstop Sweetens University of California's BREIT Investment
- Firm gets investment from University of California system
- Blackstone turns to institutional funds in its big retail bet
This article is for subscribers only.
Blackstone Inc. became the envy of the private equity world after persuading moneyed individuals to back a massive $68 billion real estate trust.
But it was a traditional institutional investor that swooped in when too many of those individuals rushed for the exits at the same time.