Blackstone opens $1.3T private markets platform to non-US investors

What's the deal? Blackstone has launched the Blackstone Private Markets Fund (BXPM), a perpetual flagship strategy that lets non-US investors access its private markets platform through a single allocation for the first time. The fund spans private equity, credit, real estate, and infrastructure.

Why now? BXPM is the first multi-strategy product under Blackstone Portfolio Solutions, an initiative unveiled earlier this year to expand its $324bn wealth offering.

What's the endgame? The firm wants to simplify how investors buy into its perpetual funds. "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," said Rashmi Madan, global head of portfolio solutions and chief executive of BXPM.

Madan, a 15-year Blackstone veteran, was promoted to the newly created role earlier this year after overseeing the buildout of the EMEA private wealth business. Blackstone has said she would lead the scaleup of its multi-strategy solutions.

The signal: Blackstone manages over $1.3tn across real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries, and hedge funds. Packaging that breadth into one product for overseas wealth clients marks a push to widen private markets access beyond its US base.

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