Blackstone Inc said redemptions from its $50-billion non-traded business development company reached its pre-set limit for the first time, but investors were still allowed to cash out on their investments.
This is the first time redemption requests had reached the pre-set limit of 5% since Blackstone launched the product in January last year. It also comes after Blackstone announced last Thursday that it would curb withdrawals from its $69 billion unlisted real estate income trust (REIT) following a surge in redemption requests.
