Private equity firm Blackstone has launched a new private markets fund offering eligible non-US investors exposure to private equity, infrastructure, real estate and credit through a single allocation.
The Blackstone Private Markets Fund (BXPM) is a perpetual strategy designed to provide access to the alternative asset manager’s private markets platform through one portfolio. The fund includes exposure to Blackstone’s $364bn (£276.5bn) private equity business, $90bn (£68bn) infrastructure business, $314bn (£237bn) real estate business and $469bn (£355bn) credit and insurance business.
The private equity allocation covers corporate private equity, tactical opportunities, growth, life sciences and secondaries, while the infrastructure strategy invests across areas including energy, transportation and digital infrastructure.
Blackstone said BXPM marks the first time eligible non-US investors will be able to access its institutional-quality perpetual funds through a single solution spanning the four asset classes.
The launch forms part of Blackstone Portfolio Solutions, a platform announced by the firm earlier this year and builds on its private wealth business, which has $324bn in assets.
Joan Solotar, global head of Private Wealth, said: “Blackstone has been a leader in broadening access to private markets for more than two decades. Today marks a step in that journey: BXPM is the first strategy that gives eligible investors access to Blackstone in a single, simple allocation.”
Rashmi Madan, global head of Portfolio Solutions and chief executive officer of BXPM, said: “We have thoughtfully designed BXPM to enable investors to access private equity, infrastructure, real estate and private credit in a single intentionally constructed portfolio – essentially, it’s private markets simplified by Blackstone.”
