Investing giant's net income falls during fourth quarter, missing $1 trillion target for assets under management in 2022.

If you're looking to cash out of Blackstone's giant private property fund, the new year brought some mixed news.

The primary investment fund of Blackstone received a lift that executives are hoping will prevent investors from requesting a refund.

In recent weeks, private property funds like Blackstone's nontraded, semiliquid BREIT vehicle have had to explain their strong performance relative to listed stocks.