The Greatest Example of Fund Marketing: Blackstone's BREIT | George Aliferis, CAIA

INVESTOLOGY: re-think investment management

The Real Story Behind Blackstone's Real Estate Income Trust (BREIT)
I (George) am doing a deep dive into the history and marketing of Blackstone's Real Estate Income Trust (BREIT), the potential financial reckonings and the broader marketing implications for the democratization of alternative assets.

I'm revisiting a previous episode with Phil Bak following recent press about the fund and a revelation: the fund doesn't make FINANCIAL sense - it makes MARKETING sense!
REFERENCES
Business Insider: https://www.businessinsider.com/blackstone-breit-commercial-real-estate-fund-misled-investors-private-equity-2024-5
New York Times: https://www.nytimes.com/2024/05/07/business/dealbook/blackstone-breit-fund-debate.html
▶️ Full conversation with Phil Bak: https://www.youtube.com/watch?v=7oQKNcov-7I
▶️ BREIT short video: https://www.youtube.com/watch?v=OBzk9HnpH2o
TO GO FURTHER
🧑🏽‍🎓 Alternative Investments Course: https://bit.ly/Alts_Invest
📩 Newsletter on Democratization of Alternatives: https://bit.ly/3AxnyTY
Listen to the podcast: https://pod.link/1511595070
AFFILIATE LINK
What I use for editing: https://get.descript.com/1ldhm44pyr0p
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#Blackstone #BREIT #RealEstate #PrivateEquity
TIMESTAMPS
0:00 BREIT full
00:24 BREIT's significance beyond its size and profitability
02:22 Interview with Phil Bak in 2023
02:36 The issues and outlook for BREIT
04:00 BREIT and the extraordinary University of California deal
04:59 BREIT's liquidity issue
07:42 Zooming on BREIT's NAV
09:10 Tackling misconceptions about liquidity
11:15 Are public valuations stupid?
13:01 BREIT doesn't make financial sense
14:57 BREIT is about marketing and user experience
16:43 The missing reference: Netflix's House of Cards

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