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...The $60bn Blackstone Real Estate Income Trust generated $2.7bn in cash flows in 2023, mostly in rents from a portfolio spanning thousands of warehouses, apartment buildings and data centres across the US...
...But the sector’s explosive growth carries risks for both investors and the people who rely on these services. I’m joined now by the FT’s Antoine Gara. Hi, Antoine. Antoine GaraHi. Good morning....
...Trump, owner of 58 per cent of the shares in the merged company before accounting for dilution, is the biggest beneficiary of the price surge....
...The world’s largest alternative asset manager promised UC an 11.25 per cent annual return from the property fund, called Blackstone Real Estate Income Trust, or Breit, as part of a deal to draw $4.5bn in...
...“We are pleased to report that Blackstone Real Estate Income Trust fulfilled 100% of repurchase requests in February,” Blackstone said in the letter....
...The diversification into investment areas previously dominated by private equity and real estate trusts, such as fibre networks, cellular towers and data centres, could bring more blow-ups....
...“The asset gathering over the past year has been extraordinary,” said Macrae Sykes, a portfolio manager for the Gabelli Equity Trust, which owns shares in both groups....
...Mary Perkins jokes that if you were to cut Specsavers’ workers open, “they’ve got green blood”....
...Plus, the FT’s Antoine Gara explains how infrastructure went from an investment backwater to a $1tn asset class....
...Blackstone has a financial exposure to the trust....
...But as DD’s Antoine Gara reports in this deep dive, the industry is dominated by a small group of dealmakers who cut their teeth competing on arcane deals in the US in the early and mid-2000s when the asset...
...The trust grew from a market capitalisation of £80mn in 1980 to about £3bn today....
...When Forlano replied that “Rigatoni” — a nickname for Viggiano — “literally works for” Blackstone, Bleckley responded “F[**]k u should’ve told me f[**]k the feds.”...
...It has proposed Richard Anderson, the former chief executive of Amtrak and Delta Air Lines, and Mary Kathryn “Heidi” Heitkamp, a former US senator....
...Venkat’s plan is a sort of “Hail Mary” attempt to revitalise Barclays, which has for years traded at a deep discount to its book value much to the disappointment of its shareholders....
...The trade at hand: a sale of the healthcare technology company Cotiviti for up to $11bn, people involved in the matter told DD’s Eric Platt and Antoine Gara....
...News round-up Perella banker had €1mn tied up in secret ‘breakfast trust’ trading scheme, court told (FT) Warren Buffett-backed Mitsubishi’s shares surge to record high (FT) Barratt to buy rival Redrow...
...“double dummy”, “Up-C”, “Morris Trust”, “reverse triangular” (which honestly sounds like something very different). Well, these might finally matter now....
...Freshfields has appointed Mary Lavelle as a partner to its private capital team and global transactions practice in London. Lavelle joins from Akin Gump....
...plans $6bn in new share buybacks as it looks to ‘reinvent’ itself (FT) Abrdn shareholder sold out after losing confidence in management (FT) Barclays boss needs more than tweaks to regain shareholder trust...
...Here, she loses even a willing reader’s trust....
...Wellcome Trust, the UK’s largest charitable donor and a large institutional investor, also divested from Vista’s funds following the scandal, people familiar with the matter said....
...“The sell-off since the summer wrongfooted many investors, but for . . . investors [with a longer time horizon], these levels may have still been attractive,” says Antoine Lesne, a managing director at State...
...“I don’t see a massive rebound in exits next year,” says Pierre-Antoine de Selancy, managing partner at 17Capital....
...Trust me, it isn’t. The bread is crisp on the outside and steaming inside. It melts the guda just enough for me to realise it’s the kind of cheese that would have a waiting list in the UK....
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