I thought that might be what you were referring to.
Their ability to limit redemption's in their BREIT (Blackstone Real Estate Income Trust ) is spelled out in the prospectus. And if you think about it, what it does, that only makes sense. The people who put their money in this aren't the Robinhood types. Newsflash
This thing has $69B of aum management buying everything from hospitals and dorms to 300 unit apartment complexes. It's not the ARKK Innovation fund buying stock in TSLA.
Blackstone will be just fine. That money is going into the one sector that will actually do well now... and going forward. Regardless of where the S&P goes.