U of California to invest $4bn in Blackstone REIT

Simpson Thacher & Bartlett LLP is acting as BREIT’s legal counsel and Goodwin Procter LLP is acting as UC Investments’ legal counsel.

  • UC Investments has already invested $2 billion in Blackstone funds for more than a decade
  • UC Investments’ co-heads of real estate, Senior Managing Director Satish Swamy and Chief Operating Officer Arthur R. Guimarães, will oversee the Blackstone relationship
  • Blackstone has $951 billion in assets under management

The University of California will invest $4 billion in Blackstone Real Estate Income Trust Inc.

On the transaction, Stephen A. Schwarzman, chairman, CEO and co-founder of Blackstone, said in a statement, “Blackstone is committed to bringing the highest quality alternative investment products to individual investors to improve their returns. 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 benefitting from BREIT.”

UC Investments has already invested $2 billion in Blackstone funds for more than a decade. UC Investments’ co-heads of real estate, Senior Managing Director Satish Swamy and Chief Operating Officer Arthur R. Guimarães, will oversee the Blackstone relationship.

Simpson Thacher & Bartlett LLP is acting as BREIT’s legal counsel and Goodwin Procter LLP is acting as UC Investments’ legal counsel.

Blackstone has $951 billion in assets under management.