Fund databasePrivate Equity

Blackstone Private Equity Strategies Fund

Blackstone · LU2480033757

Part II SICAV Private Equity Luxembourg 8 share classes ↓ Secondaries Co-Investments Buyout

NAV · 30 Jun 202638.45 USD
Fund currencyUSD
Income treatmentaccumulatingclass tracked, verified
Performance since Jan 2024 p.a.+18.7%Class I-A-USD
Ongoing costs
Min. investmentUSD 25,000
Redemptionquarterly
Risk (SRI)

01Performance

Unit price (NAV) in USD · share class I-A-USD · 30 data points

38.45 USDNAV as at 30 Jun 2026
26.13033.937.8Jan 2024Aug 2024Apr 2025Nov 2025Jun 2026
Source: Provider documents (factsheet / monthly report) all values documented from primary sources
YTD+12.3%
1 year+22.3%
since Jan 2024 p.a.+18.7%

Calendar-year returns

Calendar years, calculated from the NAV series

+17.9%2025+12.3%2026 YTD

Returns calculated by semiliquid.info from the NAV series, not an official provider figure. Taxes and the trading costs of reinvestment are not taken into account. Past performance is not a reliable indicator of future results.

Provider figures

These come from the factsheet, the PRIIPs KID or the monthly report. They may relate to a different reference date, a different share class or a longer period than the series above — the series starts with the first documented unit price, not necessarily with the launch. That is why the values sometimes differ.

Performance 12M · as at 30 Jun 202517.20%
Since launch p.a. · as at 30 Jun 202516.60%

Target return per the provider: No official target return - 'BXPE is not managed in reference to any benchmark index'; realised annualised ITD net return for class I-A 16.6 % as at 30 Jun 2025

Source: Presentation (Q2 2025 Investor Letter)_LU2480033757_2025-06-30

Provider figure or KID scenario — not a forecast by semiliquid.info. Target returns are not guaranteed.

02Strategy & portfolio

What the fund does and how the portfolio is put together.

Launch year2024
Fund sizeUSD 7.70bnas at 30 Jun 2026 (NAV, bxpef.com)
CurrencyUSD
Income treatmentboth
SFDR
Recommended holding
Liquidity buffer
Leverage limit

Risk indicator not documented from the key information document (1 = low, 7 = high); it captures liquidity risks only to a limited extent.

Portfolio breakdown

Broken down using semiliquid’s common taxonomy — provider labels are mapped onto shared categories so that funds can be compared. Only published figures are used; nothing is estimated.

Sector breakdown

Actual portfolioFair market valueas at 30 Jun 2026

Technology & software28.0%
Business services11.0%
Industrials & manufacturing11.0%
Energy & commodities10.0%
Financial services10.0%
Healthcare & life sciences9.0%
Consumer & retail9.0%
Infrastructure, not broken down4.0%
Diversified, no sector breakdown4.0%
Other4.0%
Show individual values
Technology & software12.0%
Software & SaaS11.0%
B2B services11.0%
Industrials & manufacturing11.0%
Energy & commodities10.0%
Healthcare & life sciences9.0%
Consumer & retail9.0%
Financial services8.0%
Media & entertainment5.0%
Infrastructure, not broken down4.0%
+ 3 more
Banks & specialty finance2.0%
Diversified, no sector breakdown4.0%
Other4.0%
Source: Blackstone 'June BXPE Update' Fact Card, S. 2, Grafik 'Sector Breakdown' (% of total FMV)

Geographic breakdown

Actual portfolioFair market valueas at 30 Jun 2026

North America78.0%
EMEA10.0%
Asia-Pacific8.0%
Other / unallocated4.0%
Source: Blackstone 'June BXPE Update' Fact Card, S. 2, Grafik 'Regional Breakdown' (% of total FMV)

Strategy

Secondaries Co-Investments Buyout Growth Equity

Privately negotiated, equity-oriented investments via direct/co-investments, secondaries and primary commitments (max. 50 % of NAV); corporate buyout, growth equity, hybrid capital, opportunistic; invests alongside BXPE U.S. (largely shared deal flow); single investment max. 20 % of NAV

Portfolio composition

Strategy breakdown

Corporate PE69.0%
Opportunistic13.0%
Growth12.0%
Secondaries5.0%
Provider wording in full
Strategy breakdown (% FMV, excluding debt & other securities, as at 30 Jun 2025): corporate PE 69 %, opportunistic 13 %, growth 12 %, secondaries 5 %. Thematic split: 70 % in Blackstone's high-conviction themes - digitization 22 %, experiences 14 %, franchisors 13 %, AI & data generation 8 %, innovation healthcare & life sciences 8 %, power & energy demand 4 %. In addition, BXPE holds a portion in 'Debt and Other Securities' (investment-grade bonds, leveraged loans, high-yield bonds) for income, capital deployment and liquidity management. The fund is invested across more than 15 private equity strategies. Q2 2025 return contributions: corporate PE 64 %, opportunistic 14 %, growth 13 %; 95 % of holdings with a positive contribution; more than 20 % allocated to non-buyout strategies
Source: Presentation (Q2 2025 Investor Letter)_LU2480033757_2025-06-30 (as at 30 Jun 2025)

03Costs

The basis is the PRIIPs KID of the share class we track — which makes it comparable across providers.

Management fee1.25%
Total ongoing costsnot documented
Entry charge max.0.00%
Redemption fee5.00%
Performance fee12.50%
Hurdle rate5.00%
High-water markyes

How the performance fee works

Provider wording: '12.5% of annual total return subject to a 5% annual hurdle and high water mark with a 100% catch-up, payable quarterly'. Therefore: (a) assessed at WHOLE-FUND LEVEL (whole-fund), not deal-by-deal; (b) the basis of assessment is the ANNUAL TOTAL RETURN, i.e. including unrealised changes in NAV plus distributions, NOT realised gains only; (c) hurdle 5 % p.a. - a SOFT hurdle, since it is combined with a 100 % catch-up (once the 5 % is exceeded the manager initially receives 100 % of further gains until it has reached 12.5 % of the total gain); (d) high-water mark in place; supplemented by a loss carryforward and clawback; (e) crystallisation/drawing quarterly

Costs per the key information document

Not documented – BXPE Lux is an AIFMD fund for professional investors (EEA passport, UK NPPR); no publicly available PRIIPs KID with a cost breakdown and reduction in yield exists. The provider discloses individual fee rates only, no aggregated ongoing costs.

04Subscription & entry

How you get into the fund, and on what terms.

Subscriptionmonthly
Minimum investmentUSD 25,000
Entry chargeup to 0.00%
Rec. holding periodnot documented

Subscription per the document

monthly, at the NAV of the first calendar day of the month, fully paid up; subscription applications at least 4 business days in advance

05Redemption & liquidity

Semi-liquid means redemption only on fixed dates, with notice periods and upper limits. This is how it works for this fund — in the order the redemption process runs.

Units can be redeemed quarterly; on each date the fund redeems at most 3 % of fund assets; for the first 24 months after subscription no redemption is possible.

1 · Lock-up24 months from subscription
2 · Notice periodexists, not quantified
3 · Redemption datequarterly
4 · Gatemax. 3 % per date
5 · Payout20 days after the date

The gate caps redemptions at 3 % of fund assets per date. If more investors want out at the same time, orders are scaled back pro rata or deferred to the next date.

Redemption per the document

quarterly, at the NAV as at quarter end; expected but not guaranteed

Gate per the document

up to 3.0 % of the units outstanding or of the aggregate NAV per calendar quarter (aggregated across parallel vehicles); suspension/adjustment at the fund's discretion

Notice period

Not documented (for redemptions); subscriptions: 4 business days

Lock-up

Soft lock of 24 months - confirmed by the return methodology: 'Fund returns exclude the impact of early repurchase deductions on the repurchase of shares that have been outstanding for less than two years on individual investors'

Source: Presentation (Q2 2025 Investor Letter)_LU2480033757_2025-06-30

06Share classes

8 classes known. All cost and risk figures on this page apply to LU2480033757.

ISINStatusMin. investmentOngoing costsSRI
LU2480033757basis of this pageUSD 25,0008.90%3/7
LU2480033831documentednot documented9.80%3/7
LU2480033674documentednot documented8.90%3/7
+ 5 more share classes
ISINStatusMin. investmentOngoing costsSRI
LU2480033914documentednot documented9.80%3/7
LU2850584736documentednot documented8.90%4/7
LU2850584900documentednot documented9.80%4/7
LU2986725617documentednot documented8.90%4/7
LU2986725708documentednot documented9.80%4/7
Note on the classes
Class universe taken in full from the KIDs on bxpef.com: 8 classes (I and A, each accumulating and distributing, in USD; I-A and A-A additionally in EUR and CHF, hedged, SRI 4). The main class is I-A-USD (LU2480033757): base currency USD unhedged, accumulating, no servicing fee, WKN A401PS, NAV published at bxpef.com/performance. Management fee 1.8 % for the I classes and 2.6 % for the A classes (including the distribution component); performance fee 2.0 % per the KID; total KID costs 8.9 % and 9.8 % p.a. respectively, including the costs of the underlying investments. Class launches: I-A on 2 Jan 2024, and I-D, A-A and A-D on 1 Feb 2024; no launch date is published for the EUR and CHF classes. The NAV series of 30 values matches the provider's website. Minimum investment USD 25,000, subsequent subscriptions USD 1,000 (prospectus April 2026). Contractually, up to 1.25 % p.a. management fee and up to 12.5 % performance participation on the total return are possible; the servicing fee of up to 0.85 % applies only to the advisory classes. The prospectus additionally names the class families L (no servicing, with a lock-up) and D (DvP settlement) — without public ISINs.

07Fund details & verification

Who stands behind the fund, who it is authorised for — and what the figures rest on.

AIFM / management company

Blackstone Europe Fund Management S.à r.l. (BEFM), 2-4 Rue Eugène Ruppert, L-2453 Luxembourg (RCS B212124), authorised by the CSSF under reference number A00001974. For UK/EEA distribution: Blackstone Europe LLP (BELL), 40 Berkeley Square, London (FCA FRN 520839). Structure: BXPE SICAV invests via Blackstone Private Equity Strategies Fund (Master) FCP and the BXPE Aggregator; US parallel vehicle: Blackstone Private Equity Strategies Fund L.P. ('BXPE US'). Chairperson of the Board: Christopher James; CEO: Viral Patel

Source: Presentation (Q2 2025 Investor Letter)_LU2480033757_2025-06-30

Launch date

2 Jan 2024 - 'On January 2, 2024, BXPE announced its first close, marking the inception of the fund (Class I-A received subscriptions on January 2, 2024)'. Inception of classes I-D, A-A and A-D: 1 Feb 2024

Source: Presentation (Q2 2025 Investor Letter)_LU2480033757_2025-06-30 (as at 30 Jun 2025)

Eligible investors

'FOR EXISTING PROFESSIONAL / INSTITUTIONAL / QUALIFIED INVESTORS / PROFESSIONAL MARKET PARTICIPANTS / PERMITTED CLIENTS / WHOLESALE CLIENTS / WHOLESALE INVESTORS ... ONLY'. EEA: professional clients or eligible counterparties under MiFID II only, expressly 'must not be distributed to retail clients'. UK: professional investors under Art. 2(1) UK AIFM Regulations 2013 only. Australia: wholesale clients only; DIFC: 'deemed' professional clients only; Hong Kong: professional investors under the SFO only

Source: Presentation (Q2 2025 Investor Letter)_LU2480033757_2025-06-30

Distribution authorisation

Notified across the EEA under the AIFMD (among others Austria, Belgium, Bulgaria, Germany, Luxembourg; according to the available information more than 45 countries), and in addition the United Kingdom (NPPR), Switzerland, Abu Dhabi Global Market, Australia and further Asian jurisdictions.

Fee layers / double charging

Predominantly at fund level: BXPE invests in privately negotiated, equity-oriented direct/co-investments together with BXPE U.S. (not a classic fund of funds). For the German/European subscription vehicles there is a feeder structure (BXPE Feeder SICAV), but the fees are charged at the level of the master fund BXPE Lux. The extent of additional fees at the level of any target funds is not disclosed in the public material - n/a

All figures come from our analysis of provider documents (product data as at 19 Aug 2026, distribution data as at 12 Aug 2026) and have not been conclusively verified.

Similar funds

Same asset class, sorted by overlap of sub-strategy — no recommendation, no ranking.

Important information. semiliquid.info does not provide investment advice and makes no recommendation to buy, sell or hold fund units — no ranking, no offer, no invitation to subscribe. Only the prospectus and the key information document (PRIIPs KID) of the respective fund are authoritative. We give no warranty for the accuracy, completeness or currency of the information. Semi-liquid funds invest in illiquid assets: redemptions are possible only to a limited extent and can be capped, deferred or suspended; there is a risk of total loss. Past performance is not a reliable indicator of future results. Read the prospectus and the key information document before making an investment decision and seek professional advice where appropriate.