Blackstone prepping new funds for retail market
In the wake of recently raising tens of billions of dollars of capital with nontraded real estate investment trusts and business development companies, Blackstone Inc. is preparing to roll out new funds for financial advisors to sell to clients by 2025.
One will be an infrastructure fund and the other a credit fund, Blackstone executives said Thursday morning during a conference call with investors and analysts to discuss second quarter earnings.
“As we’ve been saying for some time, we believe flows in the wealth channel ultimately follow performance,” said Jon Gray, president and chief operating officer. “We built the leading platform in our industry with over $240 billion and three large-scale perpetual vehicles. We have more in development, including two we plan to bring to market by early next year.”
“First, an infrastructure vehicle that will provide investors access to the full breadth of the firm’s strategies in this area, including equity, secondaries and credit,” Gray said. “And second, a vehicle that will invest across our expansive credit platform. Our commitment to the $85 trillion private wealth market is stronger than ever.”
Since entering the retail wealth channel directly with Blackstone branded products in 2017, the firm has seen incredible growth selling alternative investment products through financial advisors. Three of its funds for retail investors are: Blackstone Real Estate Income Trust Inc., or BREIT, which opened in 2017 and has $56.7 billion in assets; Blackstone Private Credit Fund, or BCRED, which launched in 2021 and has $67.9 billion in assets; and most recently, Blackstone Private Equity Strategies Fund, or BXPE, which opened this year and has $4.4 billion in assets.
BREIT has seen
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