Blackstone has limited withdrawals from its $125bn (£102bn) real estate investment fund following a surge in redemption requests.
The private equity group approved only 43% of redemption requests, totalling $1.3bn, in its Blackstone Real Estate Income Trust fund in November, according to a notice it sent to investors on Thursday.
Blackstone added that it would allow investors to redeem just 0.3% of the fund’s net assets this month. It usually allows 2%.
Shares in Blackstone fell by as much as 8% following the publication of the notice.
About 70% of redemption requests are believed to have come from Asia.
