Fidelity, Property
Blackstone has an exclusive agreement with Fidelity for an undisclosed period covering individual investors, and can offer the fund of funds to its institutional clients, according to a person briefed on the deal, who asked not to be identified because the information is private.
Blackstone also has agreed to buy 80 apartment properties for about $2.7 billion in one of its largest forays into the U.S. multifamily market, a person with knowledge of the deal said this month. The firm is acquiring the properties from General Electric Co.’s GE Capital unit, said the person, who asked not to be identified because the transaction isn’t public.
Gray graduated magna cum laude from Penn with bachelor’s degrees in economics and English. He serves on the boards of the Pension Real Estate Association and Trinity School, and has given $10 million to the Harlem Village Academies, a New York- based learning institution he’s chairman of.
With his wife, Mindy, Gray established the Basser Research Center at the University of Pennsylvania School of Medicine with a $25 million gift. The center focuses on the prevention and treatment of certain genetically caused breast and ovarian cancers.