AIG and Blackstone Real Estate Income Trust Close Transaction of Affordable Housing Assets

NEW YORK–(BUSINESS WIRE)–Dec. 16, 2021– American International Group, Inc. (NYSE: AIG) and Blackstone (NYSE: BX) today announced the closing of the previously disclosed transaction for Blackstone Real Estate Income Trust (BREIT), a yield-oriented, perpetual-life investment vehicle affiliated with Blackstone, to acquire AIG’s interests in a U.S. affordable housing portfolio. All AIG employees who supported the affordable housing portfolio full-time have been offered the option to join the Blackstone-affiliated portfolio company overseeing these assets.