Blackstone (BX) is seeking to arrange a secondary sale for investors in its $57.7 billion Blackstone Property Partners strategy to provide liquidity amid redemption pressure, Bloomberg reported Thursday, citing people familiar with the matter.
According to the report, Blackstone has held discussions with potential buyers and is taking a more formal role in arranging the transactions.
Blackstone Property Partners also reduced management fees by 30% for investors who kept redemption requests below a specified level, according to a California pension document, the report added.
Blackstone shares were up 1.6% in Thursday trading.
Blackstone did not immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)