Blackstone’s Mr. Fix-It Sees Profits in Japanese Buy-and-Hold Play

Newer set of funds focuses on real estate in Japan that offers a more predictable income stream

28365365体育投注 Blackstone Group Inc. became one of the world’s top property investors by sticking to Jonathan Gray’s preferred formula for market-beating returns: Buy it, fix it, sell it.

These days, the firm’s president and former head of real estate is also embracing a more restrained approach: Buy it, and hold it for a while with a more hands-off approach.

This...