University of California agreed to invest $4bn in Blackstone Real Estate Income Trust, the real estate investment trust of Blackstone. “Blackstone is committed to bringing the highest quality alternative investment products to individual investors to improve their returns. UC Investments’ $4bn investment is validation of this strategy, and we are proud to add the UC system to the more than 200k investors already benefitting from BREIT. UC Investments’ commitment builds upon its 15-year partnership with Blackstone and gives BREIT increased balance sheet flexibility and capital during an opportune deployment period for all our investors," Stephen A. Schwarzman, Blackstone Chairman, CEO and Co-Founder.