© Reuters. FILE PHOTO: Signage is seen outside The Blackstone Group headquarters in Manhattan, New York, U.S., November 12, 2021. REUTERS/Andrew Kelly
NEW YORK (Reuters) – Blackstone (NYSE:) Inc said on Thursday it was limiting withdrawals from its $69 billion real estate income trust (REIT) after receiving too many redemption requests, sending the alternative asset manager’s shares down 7%.
Blackstone said it would curb withdrawals from its REIT franchise after it received in November redemption requests greater than 2% of its monthly net asset value and 5% of its quarterly net asset value.
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