Blackstone launches BXPM fund for non-US private markets access

Blackstone (NYSE: BX) has launched the Blackstone Private Markets Fund (BXPM), a perpetual fund that provides eligible non-U.S. investors access to four private markets asset classes through a single allocation.

According to a press release, BXPM covers private equity, private infrastructure, private real estate, and credit. The fund draws from Blackstone's existing business units, which include a $364 billion private equity platform, a $90 billion infrastructure business, a $314 billion real estate business, and a $469 billion credit and insurance business.

Blackstone describes BXPM as the first strategy to offer eligible non-U.S. investors access to its institutional-quality perpetual funds through a single product. It is also the first multi-strategy solution launched under Blackstone Portfolio Solutions, a unit the firm announced earlier this year.

Joan Solotar, Global Head of Private Wealth at Blackstone, said: "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 CEO of BXPM, said the fund was "thoughtfully designed" to enable investors to access private equity, infrastructure, real estate, and private credit "in a single intentionally constructed portfolio."

Blackstone reported total assets under management of over $1.3 trillion. The fund is not available to U.S. persons under securities registration requirements.

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