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How Blackstone’s Breit bets left it with bruises

The private equity giant built a new customer pool of small investors with its Breit real estate fund, but the market downturn caused many to try to sell

Blackstone became one of the world’s most powerful financial firms by investing on behalf of large institutional investors. To boost growth, it decided to offer its products to individuals. Its new fund was a huge success, becoming the biggest Blackstone had ever raised.

Then it became a crisis.

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