SpaceX, OpenAI Drive 20% Gain in Blackstone Fund for the Wealthy


In 2022, the firm curbed withdrawals for the Blackstone Real Estate Income Trust, known as BREIT, after rising interest rates spurred investors to pull more cash. The real estate fund allowed clients to draw money without any constraints in March 2024, and last year it returned 8.1%. Blackstone attributed that performance to its bets on data centers, the “picks and shovels” of the AI revolution.



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