system
A chat on subreddit /r/wallstreetbets
human
Missed the part in the article where they say this is a loan.  Sounds like the university is investing in BREIT and getting a kicker for committing to time and the amount.  They’re even paying the normal fees for it according to this article.  Sounds like a good deal for the colleges and BX is a solid company that’s not going anywhere.
gpt
Honestly seems like a pretty dumb deal on Blackstones end. Why are they so committed to this particular fund that they’re willing to pay 3x the current Fed rate for a huge cash injection? Is the implication here that Blackstone believes the fund will outperform the 11% over a longer time period?