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GIANT Private Equity Firm Suspected Of Defrauding Investors

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Private equity giant Blackstone created BREIT, a private fund for individual investors, but it may end up being a devastatingly terrible investment. Ana Kasparian and John Iadarola discuss on The Young Turks. Your Support is Crucial to the Show: https://tyt.com/team

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"In 2017, Blackstone — the world's largest private-equity firm, which usually caters to big institutions and the very wealthy — decided to give ordinary investors an opportunity to get in on the firm's magic. It created BREIT, a private fund that buys commercial real estate like warehouses and apartment buildings, and marketed it to everyday investors as an "all-weather strategy to build long-term wealth across market cycles."

And it was magic: By offering an annual dividend of about 4% in a world where interest rates were close to zero, BREIT quickly became a giant. At its peak in 2021, the fund was attracting as much as $3 billion a month in new investments. Today, BREIT boasts assets of $114 billion — about 8% of Blackstone's entire fee-earning assets — and has generated over $5 billion in management and performance fees."

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240508__TA03_Is_Private_Equity
Category
Europe
Tags
240508__TA03_Is_Private_Equity, News, Politics
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