Blackstone Launches Multi-Asset Private Markets Fund

Blackstone has launched Blackstone Private Markets Fund, or BXPM, a perpetual fund designed to give eligible investors a single allocation across several of its private market strategies.

The Luxembourg-regulated vehicle invests through underlying Blackstone funds spanning private equity, infrastructure, real estate and credit. Blackstone’s stated allocation is 50% private equity, 20% infrastructure, 20% real estate and 10% credit, though actual holdings may differ as the fund grows and receives new subscriptions.

BXPM has a $10,000 initial investment and accepts subscriptions monthly at net asset value. Blackstone expects to offer quarterly redemptions of up to 3% of the fund’s net asset value, subject to limits.

The fund is aimed principally at professional investors in eligible markets outside the United States, with availability to other investors in certain European jurisdictions.