HedgeCo.Net — Blackstone launched Blackstone Private Markets Fund (BXPM), a perpetual multi-asset strategy intended to give eligible non-U.S. investors combined access to private equity, infrastructure, real estate and private credit in a single allocation, according to Pulse2 and IREI coverage of the firm’s announcement. BXPM is the first multi-strategy product introduced through Blackstone Portfolio Solutions.
Coverage framed BXPM as drawing on Blackstone’s existing platforms — including cited firm-wide strategy AUM marks such as about $364 billion private equity, $90 billion infrastructure, $314 billion real estate and $469 billion credit and insurance — alongside a Private Wealth platform of about $324 billion. Those figures describe Blackstone’s broader businesses, not capital raised into BXPM; initial BXPM AUM was not disclosed.
Rashmi Madan, Global Head of Portfolio Solutions and CEO of BXPM, and Joan Solotar, Global Head of Private Wealth, were named as the executives associated with the launch. The product is directed at eligible non-U.S. investors and is generally not offered or sold in the United States except under applicable exemptions.
For LPs and wealth intermediaries tracking semi-liquid multi-alts, the hard marks are the BXPM launch under Portfolio Solutions, the four-sleeve PE/infra/RE/credit design, non-U.S. eligible-investor scope, and undisclosed initial fund AUM. Do not treat platform AUM quotes as BXPM raise size.