Blackstone Raises $1.3B PE Fund for the Wealthy  

Blackstone Inc’s first private equity fund geared at wealthy individuals, private investors with more than $5 million to invest, has raised $1.3 billion, according to an 8-K filing on Monday. 

The Blackstone Private Equity Strategies Fund (BXPE) will invest in private strategies such as buyouts, startups, and fund stakes. 

BXPE was supposed to launch in early 2023, but market instability delayed the introduction. Blackstone began developing the fund roughly six years ago. 

As of Friday, the fund’s portfolio included 17 assets ranging from digital infrastructure to aerospace and defense to financial services, as well as future commitments to acquire investments totaling up to $1.27 billion. 

“These investments and commitments span various industries, including digital infrastructure, technology, business services, financial services and aerospace and defense, and include direct, secondary, and structured investments, among others,” according to the filing. 

The fund’s launch follows the introduction of other Blackstone strategies for individual investors interested in private credit and real estate. This is part of the firm’s overall strategy to attract additional assets from private wealth clients. 

BXPE investors will pay 1.25% on net asset value and 12.5% of total returns if it gains 5%.