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31.01 - 20:31
Blackstone CEO backs real estate fund to thrive in tough market
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fnlondon.comBlackstone chief executive Stephen Schwarzman says exposure to warehouses and apartments buoyed its mega real estate fund in a punishing environment where some rivals lost up to a quarter of their value.
In a Wednesday interview with Barron’s editor-in-chief David Cho at the World Economic Forum in Davos, Schwarzman said the Blackstone Real Estate Income Trust, known as BREIT, weathered an environment of higher interest rates by avoiding areas of “real stress” in the real estate market such as offices and shopping malls.
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