Blackstone Private Equity Strategies Fund L.P. (“BXPE”)
as of March 31, 2024
$25.49
net asset value per share
as of March 31, 2024
$25.43
net asset value per share
as of March 31, 2024
$25.47
net asset value per share
BXPE Overview
BXPE seeks to provide qualified individual investors broad exposure to Blackstone’s private equity platform and its 15+ strategies through a single fund.1
BXPE’s sponsor, Blackstone, is the world’s largest alternatives asset manager with more than $1 trillion in assets under management (“AUM”) and has the world’s largest private equity platform with $310 billion in AUM.2,3
Historical NAV Per Share
| Class I | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $25.13 | $25.31 | $25.49 |
| Class S | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $25.11 | $25.27 | $25.43 |
| Class D | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $25.13 | $25.30 | $25.47 |
Blackstone Leadership
Stephen A. Schwarzman
Chairman and CEO
Stephen A. Schwarzman is Chairman, CEO and Co-Founder of Blackstone, one of the world’s leading investment firms with $1 trillion Assets Under Management (as of March 31, 2024). Mr. Schwarzman has been involved in all phases of Blackstone’s development since its founding in 1985. The firm has established leading investing businesses across asset classes, including private equity, where it is a global leader in traditional buyout, growth equity, special situations and secondary investing; real estate, where it is currently the largest owner of commercial property in the world; hedge fund solutions, where it is the world’s largest discretionary hedge fund investor; and credit, where it is a global leader and major provider of credit for small, middle-market and other companies. Blackstone also has major businesses dedicated to infrastructure and life sciences investing, as well as delivering the firm’s investment management expertise and products to insurance companies.
Mr. Schwarzman is an active philanthropist with a history of supporting education, as well as culture and the arts, among other things. In 2020, he signed The Giving Pledge, committing to give the majority of his wealth to philanthropic causes. In both business and philanthropy, Mr. Schwarzman has dedicated himself to tackling big problems with transformative solutions. In June 2019, he donated £150 million to the University of Oxford to help redefine the study of the humanities for the 21st century. His gift – the largest single donation to Oxford since the renaissance – will create a new Centre for the Humanities which unites all humanities faculties under one roof for the first time in Oxford’s history, and will offer new performing arts and exhibition venues as well as a new Institute for Ethics in AI. In October 2018, he announced a foundational $350 million gift to establish the MIT Schwarzman College of Computing, an interdisciplinary hub which will reorient MIT to address the opportunities and challenges presented by the rise of artificial intelligence, including critical ethical and policy considerations to ensure that the technologies are employed for the common good. In 2015, Mr. Schwarzman donated $150 million to Yale University to establish the Schwarzman Center, a first-of-its-kind campus center in Yale’s historic “Commons” building, and also gave a founding gift of $40 million to the Inner-City Scholarship Fund, which provides tuition assistance to underprivileged children attending Catholic schools in the Archdiocese of New York. In 2013, he founded an international scholarship program, “Schwarzman Scholars,” at Tsinghua University in Beijing to educate future leaders about China. At over $575 million, the program is modeled on the Rhodes Scholarship and is the single largest philanthropic effort in China’s history coming largely from international donors. Mr. Schwarzman is Co-Chair of the Board of Trustees of Schwarzman Scholars. In 2007, Mr. Schwarzman donated $100 million to the New York Public Library on whose board he serves.
In 2019, Schwarzman published his first book What It Takes: Lessons in the Pursuit of Excellence, a New York Times Best Seller which draws from his experiences in business, philanthropy and public service.
Mr. Schwarzman is a member of The Council on Foreign Relations, The Business Council, The Business Roundtable, and The International Business Council of the World Economic Forum. He is a former co-chair of the Partnership for New York City and serves on the boards of The Asia Society and New York-Presbyterian Hospital, as well as on The Advisory Board of the School of Economics and Management at Tsinghua University, Beijing. He is a Trustee of The Frick Collection in New York City and Chairman Emeritus of the Board of Directors of The John F. Kennedy Center for the Performing Arts. In 2007, Mr. Schwarzman was included in TIME’s “100 Most Influential People.” In 2016, he topped Forbes Magazine’s list of the most influential people in finance and in 2018 was ranked in the Top 50 on Forbes’ list of the “World’s Most Powerful People.” The Republic of France has awarded Mr. Schwarzman both the Légion d’Honneur and the Ordre des Arts et des Letters at the Commandeur level. Mr. Schwarzman is one of the only Americans to receive both awards recognizing significant contributions to France. He was also awarded the Order of the Aztec Eagle, Mexico’s highest honor for foreigners, for his work on behalf of the U.S. in support of the U.S.-Mexico-Canada Agreement in 2018. Also, at the University of Oxford, Mr. Schwarzman was elected a Wykeham Fellow at New College in 2021 and a Waynflete Fellow at Magdalen College in 2023.
Mr. Schwarzman holds a B.A. from Yale University and an M.B.A. from Harvard Business School. He has served as an adjunct professor at the Yale School of Management and on the Harvard Business School Board of Dean’s Advisors.
Follow Mr. Schwarzman on LinkedIn.
Jonathan Gray
President & COO
Jonathan (“Jon”) Gray is President and Chief Operating Officer of Blackstone, and is a member of Blackstone’s Board of Directors. He sits on its Management Committee and most of its investment committees. Mr. Gray previously served as the firm’s Global Head of Real Estate, which he helped to build into the largest real estate platform in the world. He joined Blackstone in 1992. Mr. Gray currently serves as Chairman of the Board of Hilton Worldwide. He also serves on the board of Harlem Village Academies. Mr. Gray and his wife, Mindy, established the Basser Center for BRCA at the University of Pennsylvania School of Medicine focused on the prevention and treatment of BRCA related cancers. They also established NYC Kids RISE in partnership with the City of New York to accelerate college savings for low-income children. Mr. Gray received a B.S. in Economics from the Wharton School, as well as a B.A. in English from the College of Arts and Sciences at the University of Pennsylvania.
Lionel Assant
Global Co-Chief Investment Officer
Lionel Assant is the Global Co-Chief Investment Officer of Blackstone. As Co-CIO, Mr. Assant is primarily responsible for the overall strategic direction and day-to-day management of the investment portfolio across Blackstone’s Private Equity (PE) complex, including Corporate PE, Infrastructure, Tactical Opportunities, Growth, and Life Sciences.
Mr. Assant also serves as Blackstone’s European Head of Private Equity. He joined Blackstone in 2003 and has run the European PE business since 2012.
Mr. Assant currently serves as a Director of Clarion Events, CIRSA, BME (formerly CRH Building Materials Distribution), Bourne Leisure and VFS. He previously served on the boards of Gerresheimer, Klockner Pentaplast, Mivisa, United Biscuits, Alliance Automotive Group, Tangerine, Intertrust, Armacell, Cerdia, Schenck Process and the National Exhibition Centre.
Before joining Blackstone, Mr. Assant was an Executive Director at Goldman Sachs in the Mergers & Acquisitions, Asset Management and Private Equity divisions. Mr. Assant graduated from the Ecole Polytechnique with a Master’s in Economics.
He is also involved with Impetus, a charitable foundation which provides resources to improve the lives of children and young people living in poverty.
Joseph Baratta
Global Head of Private Equity
Joseph Baratta is the Global Head of Private Equity and a member of Blackstone’s Board of Directors. He is also a member of the firm’s Management Committee and serves on many of the firm’s investment committees. Mr. Baratta joined Blackstone in 1998 and in 2001 he moved to London to help establish Blackstone’s corporate private equity business in Europe. Since 2012, Mr. Baratta has served as the firm’s Global Head of Private Equity and is located in New York. Mr. Baratta has served on the boards of many past Blackstone portfolio companies and currently serves as a member or observer on the boards of Ancestry, Candle Media, First Eagle Investment Management, Medline and Merlin Entertainments Group. He is also a member of the Board of Trustees of Georgetown University; is a trustee of the Tate Foundation; and serves on the board of Year Up, an organization focused on youth employment. Before joining Blackstone, Mr. Baratta was with Tinicum Incorporated and McCown De Leeuw & Company. Mr. Baratta also worked at Morgan Stanley in its mergers and acquisitions department. Mr. Baratta graduated magna cum laude from Georgetown University.
David Blitzer*
Global Head of Tactical Opportunities
David Blitzer is a member of the BXPE Board of Directors, a Senior Managing Director at Blackstone and Global Head of Tac Opps, and a member of the firm’s Management Committee. Mr. Blitzer is a member of the Investment Committee for BXPE, the Tac Opps and Blackstone Growth funds. Prior to launching Tac Opps, Mr. Blitzer had been involved in the execution of Blackstone investments across a variety of asset classes, including establishing and leading Blackstone’s European private equity business. He joined Blackstone in 1991. Mr. Blitzer currently serves on the Boards of Recurrent Ventures, APi Group Corporation and Spanx. Mr. Blitzer also currently serves on the Boards of Dream, a youth development organization servicing over 2,200 inner city children, and the Riverdale Country School, the Advisory Board of the Mount Sinai Surgical Department, the Board of Overseers at the Wharton School and the Board of Trustees at the University of Pennsylvania. Mr. Blitzer is based in New York and graduated magna cum laude from the Wharton School of the University of Pennsylvania.
Nicholas Galakatos
Global Head of Life Sciences
Nicholas Galakatos is the Global Head of Life Sciences and is the Chairman of its Investment Committee, having joined Blackstone as part of its acquisition of Clarus in December 2018. Prior to joining Blackstone, Dr. Galakatos was a co-Founder and Managing Director of Clarus since the firm’s inception in 2005. Dr. Galakatos has over 30 years of industry and investment experience in the healthcare sector and has led investments in biotechnology, pharmaceutical company partnerships, and diagnostics, from startups to commercial-stage companies. Before Clarus, Dr. Galakatos was a General Partner at MPM Capital, a healthcare venture capital firm. From 1997 to 2000 he was Vice President of New Business at Millennium Pharmaceuticals (presently Takeda) and a member of the Management Team. He is a founder of Millennium Predictive Medicine and TransForm Pharmaceuticals, where he was the Chairman and founding CEO. Dr. Galakatos is the Chairman of Anthos Therapeutics and a member of the Board of Directors of Talaris, Inc (NASDAQ: TALS) and BioMed Realty. He is a member of the Director’s Council of the Koch Institute at MIT and a member of the Board of Trustees at Reed College. Dr. Galakatos earned his PhD in Organic Chemistry from MIT and performed his post-doctoral studies at Harvard Medical School. He earned his undergraduate degree at Reed College.
Jon Korngold
Global Head of Growth
Jon Korngold is the Global Co-Head of Technology Investing and Head of Blackstone Growth (BXG), which is focused on providing capital to companies seeking to manage the execution risks associated with high-growth environments. Jon is a member of both the BXG and Tactical Opportunities Investment Committees. Prior to joining Blackstone in 2019, Jon was head of General Atlantic’s Global Financial Services and Healthcare sectors, Chairman of the firm’s Portfolio Committee, and was a member of the firm’s Management and Investment Committees. Jon also previously worked at Goldman Sachs in the Principal Investment Area and in the Mergers & Acquisitions groups in London and New York, respectively. Jon has spent extensive time in China, where he studied Mandarin Chinese at Peking University and did pro bono work for the U.S. Embassy’s Foreign Commercial Service in Beijing. Jon is active with Harvard University, where he is a member of the Harvard College Fund’s Executive Committee and where he Co-Chairs fundraising for his College class. In addition, he is a member of The Council on Foreign Relations, has been an Adjunct Professor at Columbia Business School, a member of the Rockefeller University Council, a member of the New York Weill Cornell Council, a member of the Young Presidents Organization (YPO), a Young Global Leader of the World Economic Forum, a Commissioned Kentucky Colonel, and a member of the American Museum of Natural History’s Advisory Council. Jon has also served as a Trustee of the Cleveland Clinic, of The Dalton School, of The Central Park Conservancy and of the 92nd Street Y, among other institutions. Jon has also been recognized for his efforts in the financial services sector, including having been ranked #1 in Institutional Investor’s list of global Financial Technology dealmakers on multiple occasions. He received an AB in Economics from Harvard College, graduating with Honors, and earned his MBA from Harvard Business School.
Jennifer Morgan
Global Head of Portfolio Operations
Jennifer Morgan is the Global Head of Portfolio Operations at Blackstone. She leads the firm’s operating executives and advisors, who partner closely with Blackstone’s portfolio companies to accelerate, create and safeguard value. Since joining the firm, Ms. Morgan has expanded the caliber and breadth of capabilities it offers the portfolio. This includes industry expertise and experience across many key disciplines critical for successful businesses today, including leadership & talent development, ESG, brand strategy, data science, sales and marketing, operations, technology and product. She has also further grown programs that leverage Blackstone’s scale for the benefit of portfolio companies and their employees in areas like healthcare and spend management. Prior to joining Blackstone, Ms. Morgan served as Co-Chief Executive Officer at SAP – becoming the first female CEO of a DAX company. She also held various, additional leadership roles at SAP over 16 years – including serving on its executive board between 2017 and 2020 and overseeing many of the company’s largest and most important strategic growth initiatives. Ms. Morgan holds a BA in Business Administration from James Madison University and is a board member at Candle Media, Bumble, UKG, the National Academy Foundation, and is on the Board of Advisors at James Madison University’s College of Business. She has been named one of the Most Powerful Women in Business by Fortune and Most Powerful Women in the World and Technology by Forbes.
Verdun Perry
Global Head of Strategic Partners
Verdun S. Perry is the Global Head of Blackstone Strategic Partners (“Strategic Partners”), having joined the business in 2000, the year it was founded. Mr. Perry chairs the Investment Committee for each of the Strategic Partners funds and is currently an advisory board member of multiple third-party funds. Prior to joining Strategic Partners, Mr. Perry worked at Donaldson, Lufkin & Jenrette (“DLJ”), as an Associate in the Investment Banking Division. Prior to joining DLJ, he worked in the strategic acquisitions group at Bozell, Jacobs, Kenyon and Eckhardt, Inc. and in the Investment Banking Division at Morgan Stanley & Co. as a Financial Analyst. In 2013, Mr. Perry joined the board of Sponsors for Educational Opportunity (SEO), which is an organization focused on narrowing the opportunity gap for minority high school and college students, as well as increasing diversity in the financial services industry. Mr. Perry founded Blackstone’s Diverse Professionals Network (“DPN”) in 2014 and chaired the network for its first 6 years. Mr. Perry serves on the boards of Morehouse College and the Blackstone Charitable Foundation. Mr. Perry was a member of the David Rockefeller Fellows Class of 2016. In 2021, Mr. Perry was selected as a Fellow of the fifth class of the Finance Leaders Fellowship Program and a member of the Aspen Global Leadership Network. Mr. Perry received a B.A. magna cum laude in Business Administration from Morehouse College in 1994, where he was elected Phi Beta Kappa, and an M.B.A. from Harvard Business School in 2000, where he was a Robert Toigo Foundation Fellow.
Gilles Dellaert
Global Head of Blackstone Credit and Insurance (BXCI)
Gilles Dellaert is the Global Head of Blackstone Credit and Insurance (BXCI).
Prior to his current role, Mr. Dellaert served as the Global Head of Blackstone Insurance Solutions where he was involved in the new partnerships with Corebridge, Everlake and Resolution Life. Before joining Blackstone in April 2020, Mr. Dellaert served as Co-President and Chief Investment Officer of Global Atlantic Financial Group. He previously worked at Goldman Sachs in its Reinsurance Group which became Global Atlantic upon its separation in 2013. Prior to that he was with Goldman Sachs in its Credit Trading business and with JP Morgan.
Mr. Dellaert holds a bachelor’s degree from Ghent University in Belgium.
BXPE Investment Committee
Jonathan Gray
President & COO
Jonathan (“Jon”) Gray is President and Chief Operating Officer of Blackstone, and is a member of Blackstone’s Board of Directors. He sits on its Management Committee and most of its investment committees. Mr. Gray previously served as the firm’s Global Head of Real Estate, which he helped to build into the largest real estate platform in the world. He joined Blackstone in 1992. Mr. Gray currently serves as Chairman of the Board of Hilton Worldwide. He also serves on the board of Harlem Village Academies. Mr. Gray and his wife, Mindy, established the Basser Center for BRCA at the University of Pennsylvania School of Medicine focused on the prevention and treatment of BRCA related cancers. They also established NYC Kids RISE in partnership with the City of New York to accelerate college savings for low-income children. Mr. Gray received a B.S. in Economics from the Wharton School, as well as a B.A. in English from the College of Arts and Sciences at the University of Pennsylvania.
David Blitzer*
Global Head of Tactical Opportunities
David Blitzer is a member of the BXPE Board of Directors, a Senior Managing Director at Blackstone and Global Head of Tac Opps, and a member of the firm’s Management Committee. Mr. Blitzer is a member of the Investment Committee for BXPE, the Tac Opps and Blackstone Growth funds. Prior to launching Tac Opps, Mr. Blitzer had been involved in the execution of Blackstone investments across a variety of asset classes, including establishing and leading Blackstone’s European private equity business. He joined Blackstone in 1991. Mr. Blitzer currently serves on the Boards of Recurrent Ventures, APi Group Corporation and Spanx. Mr. Blitzer also currently serves on the Boards of Dream, a youth development organization servicing over 2,200 inner city children, and the Riverdale Country School, the Advisory Board of the Mount Sinai Surgical Department, the Board of Overseers at the Wharton School and the Board of Trustees at the University of Pennsylvania. Mr. Blitzer is based in New York and graduated magna cum laude from the Wharton School of the University of Pennsylvania.
Christopher James*
Chairperson, BXPE
Christopher James is the Chairperson of BXPE and the BXPE Board of Directors. He is the Chief Operating Officer of Blackstone’s Tactical Opportunities Group (“Tac Opps”). Mr. James is a member of the Investment Committee for BXPE, the Tac Opps and Blackstone Growth funds. Prior to launching Tac Opps in 2012, Mr. James previously managed a number of the firm’s business development efforts and strategic initiatives across asset classes and investment products. Since joining Blackstone in 2006, Mr. James has led the organization of a number of new Blackstone investment products as well as the execution of the firm’s initial public offering and the firm’s investments in GSO, Pátria Investimentos and Strategic Partners. He currently serves on the Board of Trustees of Prep for Prep and Riverdale Country School. He has served on the boards of various Blackstone portfolio companies. Mr. James received a B.S. from Duke University and a J.D. from Harvard Law School.
Joan Solotar*
Global Head of Private Wealth Solutions
Joan Solotar is a member of the Board of Directors and the Investment Committee of BXPE. She is a Senior Managing Director at Blackstone, Global Head of Private Wealth Solutions, and a member of the firm’s Management Committee. Blackstone’s Private Wealth Solutions’ mission is to bring institutional quality products across a broad spectrum of alternative asset classes to high net worth clients and their advisors. Ms. Solotar also serves on the board of directors of First Eagle Investment Management. Before joining Blackstone in 2007, Ms. Solotar was Head of Equity Research at Bank of America Securities and a highly ranked Institutional Investor All Star financial services analyst at Credit Suisse and Donaldson, Lufkin & Jenrette. Ms. Solotar is a member of the Board of Trustees of East Harlem Tutorial Program and East Harlem Scholars Academies. She wrote a Harvard Business Review article entitled, “Truths for our Daughters,” and co-authored, “Truths from My Daughter.” Ms. Solotar received a B.S. in Management Information Systems from the State University of New York at Albany and an M.B.A. in Finance from New York University.
Lionel Assant
Global Co-Chief Investment Officer
Lionel Assant is the Global Co-Chief Investment Officer of Blackstone. As Co-CIO, Mr. Assant is primarily responsible for the overall strategic direction and day-to-day management of the investment portfolio across Blackstone’s Private Equity (PE) complex, including Corporate PE, Infrastructure, Tactical Opportunities, Growth, and Life Sciences.
Mr. Assant also serves as Blackstone’s European Head of Private Equity. He joined Blackstone in 2003 and has run the European PE business since 2012.
Mr. Assant currently serves as a Director of Clarion Events, CIRSA, BME (formerly CRH Building Materials Distribution), Bourne Leisure and VFS. He previously served on the boards of Gerresheimer, Klockner Pentaplast, Mivisa, United Biscuits, Alliance Automotive Group, Tangerine, Intertrust, Armacell, Cerdia, Schenck Process and the National Exhibition Centre.
Before joining Blackstone, Mr. Assant was an Executive Director at Goldman Sachs in the Mergers & Acquisitions, Asset Management and Private Equity divisions. Mr. Assant graduated from the Ecole Polytechnique with a Master’s in Economics.
He is also involved with Impetus, a charitable foundation which provides resources to improve the lives of children and young people living in poverty.
Joseph Baratta
Global Head of Private Equity
Joseph Baratta is the Global Head of Private Equity and a member of Blackstone’s Board of Directors. He is also a member of the firm’s Management Committee and serves on many of the firm’s investment committees. Mr. Baratta joined Blackstone in 1998 and in 2001 he moved to London to help establish Blackstone’s corporate private equity business in Europe. Since 2012, Mr. Baratta has served as the firm’s Global Head of Private Equity and is located in New York. Mr. Baratta has served on the boards of many past Blackstone portfolio companies and currently serves as a member or observer on the boards of Ancestry, Candle Media, First Eagle Investment Management, Medline and Merlin Entertainments Group. He is also a member of the Board of Trustees of Georgetown University; is a trustee of the Tate Foundation; and serves on the board of Year Up, an organization focused on youth employment. Before joining Blackstone, Mr. Baratta was with Tinicum Incorporated and McCown De Leeuw & Company. Mr. Baratta also worked at Morgan Stanley in its mergers and acquisitions department. Mr. Baratta graduated magna cum laude from Georgetown University.
Martin Brand
Head of North America Private Equity
Martin Brand is Head of North America Private Equity and Global Co-Head of Technology Investing. He also serves as a member of several of the firm’s investment committees.
Mr. Brand was involved in Blackstone’s investments in Sphera, Ellucian, Renaissance Learning, Simpli.Fi, Refinitiv, Bumble, IntraFi, Paysafe, Vungle, Ultimate Software, Liftoff, Blue Yonder, Optiv, Kronos, Ipreo, Knight Capital Group, Lendmark, Exeter Finance, Viva, NCR, First Eagle, BankUnited, PBF Energy, Performance Food Group, Travelport, New Skies, Cine UK, NHP, Kabel BW, Kabelnetz NRW, Primacom, and Sulo.
Before joining Blackstone, Mr. Brand worked as a derivatives trader with Goldman Sachs in New York and Tokyo, and with McKinsey & Company in London.
Mr. Brand received a BA/MA in Mathematics and Computation, First Class Honors, from Oxford University and an MBA from the Harvard Business School. He is a director of London Stock Exchange Group, UKG Software, Liftoff Mobile, and First Eagle. He is a Trustee of the American Academy Berlin.
Michael Chae
Chief Financial Officer
Michael Chae is Blackstone’s Chief Financial Officer and a member of the firm’s Management Committee. Mr. Chae has management responsibility over the firm’s global finance, treasury, technology and corporate development functions. He chairs the firm’s Valuation and Enterprise Risk Committees and is a member of investment committees across most of the firm’s businesses. Since joining Blackstone in 1997, Mr. Chae has served in a broad range of leadership roles including Head of International Private Equity, Head of Private Equity for Asia Pacific and as a senior partner in the U.S. Private Equity business, where he led numerous Blackstone investments and served on the boards of many private and publicly traded portfolio companies. Before joining Blackstone, Mr. Chae previously worked at The Carlyle Group and Dillon, Read & Co. He has been active in the non-profit world with a focus on education and policy. Mr. Chae served as the President of the Board of Trustees of the Lawrenceville School, and remains a Trustee Emeritus and co-chair of its capital campaign. He is a trustee of the St. Bernard’s School, a former trustee of KIPP NYC and recently founded the Chae Initiative in Private Sector Leadership at Yale Law School. He is a member of the Council on Foreign Relations and the Board of Trustees of the Asia Society, where he chairs its Nominating Committee. Mr. Chae received an A.B. from Harvard College, an MPhil. in International Relations from Cambridge University and a J.D. from Yale Law School.
Eric Liaw
Chief Investment Officer
Eric Liaw is Chief Investment Officer. He is a Senior Managing Director, Head of Portfolio Management for BXPE, and the Treasurer and Head of Corporate Development for Blackstone. Mr. Liaw leads Blackstone Global Treasury, which oversees the firm’s balance sheet, risk management activities, and treasury operations. Mr. Liaw also leads strategic mergers and acquisitions, new business initiatives, and special projects in support of Blackstone. Mr. Liaw is also a member of the firm’s Capital Markets, Enterprise Risk, Liquid Asset Investments, and Valuation Committees and serves on the board of the Blackstone Charitable Foundation. Prior to his current role, Mr. Liaw was a Senior Managing Director in Blackstone’s private equity business, focused on investments in the energy sector. Prior to joining Blackstone in 2014, Mr. Liaw was a Principal at TPG Capital where he evaluated and executed investment opportunities in a wide range of industries. Prior to TPG, Mr. Liaw was an associate at Bain Capital, where he focused on private equity investments in a wide range of industries. Mr. Liaw also serves on the Board of Trustees of the Riverside Park Conservancy. Mr. Liaw received his B.A., with highest honors, and B.B.A., with highest honors, from the University of Texas at Austin and received his M.B.A., with distinction, from Harvard Business School.
Prakash Melwani
Global Chief Investment Officer of Private Equity
Prakash A. Melwani is the Global Chief Investment Officer of the Private Equity Group and the Executive Chairman of the firm’s Private Equity business in Asia. Mr. Melwani is also a member of the Investment Committee for BXPE. Since joining Blackstone in 2003, Mr. Melwani has led a number of the firm’s investments including Texas Genco, Ariel Re, Pinnacle Foods, Performance Food Group, Crocs and Ascend Learning. He serves as Chairman of Ascend Learning. Mr. Melwani serves on the Board of Dean’s Advisors at Harvard Business School, the President’s Council on International Activities at Yale University, and the Board of Cambridge in America. He sits on the Board of the International Rescue Committee and is a member of the Council on Foreign Relations. Mr. Melwani received a First Class Honors degree in Economics from Cambridge University, England, and an M.B.A. with High Distinction from the Harvard Business School, where he graduated as a Baker Scholar and a Loeb Rhodes Fellow.
Viral Patel
Chief Executive Officer, BXPE
Viral Patel is the Chief Executive Officer of Blackstone Private Equity Strategies (“BXPE”). Mr. Patel is as a member of the Investment Committees for BXPE, Blackstone Growth and participates on the Investment Committee of technology focused deals in Private Credit.
Mr. Patel has been with Blackstone since 2005 and he was involved in the launch of Blackstone Tactical Opportunities, as well as incubating and building other Blackstone businesses. Mr. Patel was also the Global Head of Technology Investing for Blackstone Credit. Before joining Blackstone, Mr. Patel was a member of the Credit Suisse Structured Products business. He has served on the boards of various Blackstone portfolio companies.
Mr. Patel graduated magna cum laude from Cornell University with a B.S. in Operations Research and Industrial Engineering.
Vik Sawhney
Chief Administrative Officer
Vik Sawhney is Blackstone’s Chief Administrative Officer and Global Head of Institutional Client Solutions. Since joining Blackstone in 2007, Mr. Sawhney started Blackstone Capital Markets and also served as the Chief Operating Officer of the Private Equity group. Before joining Blackstone, Mr. Sawhney worked as a Managing Director in the Financial Sponsors Group at Deutsche Bank and prior to that was an Associate at the law firm of Simpson Thacher & Bartlett. Mr. Sawhney represented Blackstone as a Rockefeller Fellow during 2010-2011 and currently sits on the board of the Blackstone Charitable Foundation. He is also the Board Chair of Dream, an east Harlem-based educational and social services organization. He graduated from Dartmouth College and received a J.D. from Harvard Law School.
BXPE Senior Leadership
Christopher James*
Chairperson
Christopher James is the Chairperson of BXPE and the BXPE Board of Directors. He is the Chief Operating Officer of Blackstone’s Tactical Opportunities Group (“Tac Opps”). Mr. James is a member of the Investment Committee for BXPE, the Tac Opps and Blackstone Growth funds. Prior to launching Tac Opps in 2012, Mr. James previously managed a number of the firm’s business development efforts and strategic initiatives across asset classes and investment products. Since joining Blackstone in 2006, Mr. James has led the organization of a number of new Blackstone investment products as well as the execution of the firm’s initial public offering and the firm’s investments in GSO, Pátria Investimentos and Strategic Partners. He currently serves on the Board of Trustees of Prep for Prep and Riverdale Country School. He has served on the boards of various Blackstone portfolio companies. Mr. James received a B.S. from Duke University and a J.D. from Harvard Law School.
Viral Patel
Chief Executive Officer
Viral Patel is the Chief Executive Officer of Blackstone Private Equity Strategies (“BXPE”). Mr. Patel is as a member of the Investment Committees for BXPE, Blackstone Growth and participates on the Investment Committee of technology focused deals in Private Credit.
Mr. Patel has been with Blackstone since 2005 and he was involved in the launch of Blackstone Tactical Opportunities, as well as incubating and building other Blackstone businesses. Mr. Patel was also the Global Head of Technology Investing for Blackstone Credit. Before joining Blackstone, Mr. Patel was a member of the Credit Suisse Structured Products business. He has served on the boards of various Blackstone portfolio companies.
Mr. Patel graduated magna cum laude from Cornell University with a B.S. in Operations Research and Industrial Engineering.
Thomas Morrison
President
Thomas Morrison is a Senior Managing Director of Blackstone and Co-President of BXPE. Mr. Morrison joined Blackstone in 2011 to lead the firm’s Equity Capital Markets activities across all investment businesses globally. In 2020, he joined the firm’s Private Wealth Solutions group to focus on senior relationships with private wealth investment firms and strategic initiatives focused on expanding access with new products, geographies, model portfolios, co-investments and capital markets. He is an Advisory Council Member for the Chartered Alternative Investment Analyst (CAIA) Association, Advisory Board Member for the Kellogg Finance Network and Co-Chairman of the Friends of Harvard Basketball. Mr. Morrison received a B.A. from Harvard College, majoring in Economics. He also received an M.B.A. from the Kellogg Graduate School of Management, with majors in Management, Finance and Marketing. Mr. Morrison also studied at the University of London, University College.
Eric Liaw
Chief Investment Officer
Eric Liaw is Chief Investment Officer. He is a Senior Managing Director, Head of Portfolio Management for BXPE, and the Treasurer and Head of Corporate Development for Blackstone. Mr. Liaw leads Blackstone Global Treasury, which oversees the firm’s balance sheet, risk management activities, and treasury operations. Mr. Liaw also leads strategic mergers and acquisitions, new business initiatives, and special projects in support of Blackstone. Mr. Liaw is also a member of the firm’s Capital Markets, Enterprise Risk, Liquid Asset Investments, and Valuation Committees and serves on the board of the Blackstone Charitable Foundation. Prior to his current role, Mr. Liaw was a Senior Managing Director in Blackstone’s private equity business, focused on investments in the energy sector. Prior to joining Blackstone in 2014, Mr. Liaw was a Principal at TPG Capital where he evaluated and executed investment opportunities in a wide range of industries. Prior to TPG, Mr. Liaw was an associate at Bain Capital, where he focused on private equity investments in a wide range of industries. Mr. Liaw also serves on the Board of Trustees of the Riverside Park Conservancy. Mr. Liaw received his B.A., with highest honors, and B.B.A., with highest honors, from the University of Texas at Austin and received his M.B.A., with distinction, from Harvard Business School.
Susanne Desch
Chief Operating Officer
Susanne Desch is the Chief Operating Officer of Blackstone Private Equity Strategies (BXPE), a Managing Director and Chief Administrative Officer of Blackstone’s Tactical Opportunities (“Tac Opps”) and Blackstone Growth (”BXG”) groups, based in New York. In these roles, she oversees strategy, operations and administration for the business. Ms. Desch joined Blackstone in 2014 after nearly 10 years at Bank of America Merrill Lynch, where she focused on Business Administration for the Global Markets and Investment Bank, followed by the Private Banking and Investment Group. Ms. Desch received a BS in Business Administration from Western Carolina University.
Christopher Striano
Chief Financial Officer
Christopher Striano is the BXPE Chief Financial Officer and the Chief Operating Officer of Global Finance at Blackstone. Mr. Striano provides supervisory oversight to the day-to-day administration of Finance and is responsible for the Financial Middle Office, Investment & Corporate Operations, Global Fund Finance, Global Corporate Services, Procurement and Transformation groups. Previously he served as Blackstone’s Chief Accounting Officer also responsible for the Firm’s accounting policy and SEC Reporting. Prior to that, Mr. Striano served as Head of the firm’s Financial Planning and Analysis group, where his responsibilities included the firm’s global forecast process, business unit and firm-wide strategic planning, managing ratings agency relationships, new business initiatives and various special projects. Mr. Striano received a B.S. in Accounting with a minor in Finance from St. John’s University and serves as a trustee at Bayshore Hackensack Meridian Hospital in New Jersey.
Daniel Katz
Chief Product Officer
Daniel Katz is the Chief Product Officer of BXPE and a Managing Director based in New York. Mr. Katz is focused on driving fund marketing initiatives as well as investor relations across both the Blackstone Tactical Opportunities and Blackstone Growth funds. Prior to joining Blackstone, Mr. Katz was a Director in the Private Fund Group at Credit Suisse Securities where he was focused on project management. Prior to Credit Suisse, Mr. Katz was an Associate covering Healthcare at BMO Capital Markets and the Northeast Finance Director for the Democratic National Committee. Mr. Katz received a BA from the University of Michigan and an MBA from the Wharton School of the University of Pennsylvania.
BXPE Independent Directors
Raymond J. Beier*
Independent Director
Raymond J. Beier is a member of the BXPE Board of Directors. Mr. Beier also has served as a director and Audit Committee Chair of Blackstone Real Estate Income Trust, Inc. since its inception in July 2016. Before then, he was a partner in the financial services practice at PricewaterhouseCoopers LLP, having been with the firm from 1993 to 2016. Mr. Beier has extensive experience in financial reporting matters relating to mergers, acquisitions and corporate finance transactions. Mr. Beier served in a variety of roles at PricewaterhouseCoopers LLP, including as a member of the National Office leadership team responsible for its strategic policy and analysis group and as a senior partner in the transaction services group. Mr. Beier also served on various PricewaterhouseCoopers committees, including the Global Private Equity Committee and the Extended Leadership Committee. Mr. Beier received a B.S. in Accounting, summa cum laude, from the University of Minnesota—Duluth and an M.B.A. from the University of Minnesota—Carlson School of Management. Mr. Beier also serves on the Chancellor’s Advisory Board at the University of Minnesota—Duluth.
Grace Vandecruze*
Independent Director
Grace Vandecruze is a member of the BXPE Board of Directors. Ms. Vandecruze has served as the Managing Director of Grace Global Capital LLC since 2006 and the Chief Financial Officer of ShoulderUp Technology Acquisition Corp since 2021. She also serves on the board of directors of Link Logistics Real Estate, Resolution Holdings, The Doctors Company and the PIMCO closed-end fund complex. Ms. Vandecruze also serves on the Wharton Graduate Executive Board. Ms. Vandecruze has extensive experience in investment banking and financial advisory matters relating to mergers, acquisitions and corporate finance transactions. She began her career as an auditor in public accounting at Ernst & Young and Grant Thornton. She also wrote the book “Homeless to Millionaire – 6 Keys to UPLIFT your Financial Abundance.” Ms. Vandecruze received a B.B.A. in Accounting from the Pace University and an M.B.A. from the Wharton School of the University of Pennsylvania. Ms. Vandecruze is also a Certified Public Accountant and an active member of the American Institute of Certified Public Accountants.
John Hershey*
Independent Director
John Hershey is a member of the BXPE Board of Directors. From 2008 to 2023, Mr. Hershey worked at the Oregon State Treasury, most recently as Director of Investments, where he helped manage investment portfolios across all asset classes. Prior to that role, Mr. Hershey was the Director of Alternative Investments, with overall responsibility for private equity, real estate, real assets, hedge fund, private credit, and opportunity portfolios. Previously, Mr. Hershey was a managing director at an early stage venture firm and a managing director at Banc of America Securities. Mr. Hershey received a B.A. in Economics from the University of California, Davis and an M.B.A. from the University of Chicago. He served from 2018-2023 as a board member of the Institutional Limited Partners Association (ILPA), and Vice Chair from 2020-2022. He currently is a member of the board of trustees of the Oregon Health & Science University Foundation and is a member of the board of directors of Talcott Financial Group Investments.
*Serves on the BXPE Board of Directors
Governance Documents
BXPE’s business and affairs are managed by Blackstone as its general partner, subject to certain oversight rights held by BXPE’s Board of Directors.
Note: Not all professionals above are dedicated to BXPE and will perform work for other Blackstone business units. The level of involvement and role of such professionals with BXPE may vary, including having no involvement or role at all. Independent Directors are not Blackstone employees.
- There is no assurance that BXPE will access all these strategies or in any particular proportion and available strategies may change from time to time. Diversification does not ensure a profit or protect against losses, and there is no guarantee that BXPE will be diversified.
- Largest global alternative asset manager reflects Preqin data as of December 31, 2023.
- Private Equity International as of March 2023, based on capital raised.
Important Disclosure Information
This material contains references to our net asset value (“NAV”) and NAV based calculations, which involve significant professional judgment. Our NAV is generally equal to the fair value of our assets less outstanding liabilities, calculated in accordance with BXPE’s valuation policy. The calculated value of our assets and liabilities may differ from our actual realizable value or future value which would affect the NAV as well as any returns derived from that NAV, and ultimately the value of your investment. As return information is calculated based on NAV, return information presented will be impacted should the assumptions on which NAV was determined prove to be incorrect. NAV in accordance with our valuation policy may differ from the Fund’s net asset value as determined in accordance with accounting principles generally accepted in the United States of America.
BXPE is offered pursuant to private placement. This website is neither an offer to sell nor a solicitation of an offer to buy any security and none should be inferred.
Complete information on the risks associated with BXPE are set out in BXPE’s registration statement on Form 10, annual report for the most recent fiscal year, and any such updated factors included in BXPE’s periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov.
Assets under management (“AUM”) is estimated and unaudited as of March 31, 2024. There can be no assurance that any Blackstone fund, investment or acquisition will achieve its objectives or avoid substantial losses.
The BXPE Investment Committee and BXPE Senior Leadership professionals identified above are not solely dedicated to BXPE or any particular Blackstone business and will perform work for other Blackstone business units. There can be no assurance that such professionals will be associated with a fund throughout the life of a fund.
Certain information contained on or available from this website has been obtained from sources outside Blackstone, which in certain cases have not been updated through the date hereof. While such information is believed to be reliable for purposes used herein, no representations are made as to the accuracy or completeness thereof and none of Blackstone, its funds, nor any of their affiliates takes any responsibility for, and has not independently verified, any such information.
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Forward-Looking Statements
Certain information contained on or available from this website constitutes “forward-looking statements,” within the meaning of the federal securities laws and the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by the use of forward-looking terminology, such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “identified,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates”, “confident,” “conviction” or the negative versions of these words or other comparable words thereof. These may include BXPE’s financial estimates and their underlying assumptions, statements about plans, objectives and expectations with respect to future operations, statements with respect to acquisitions, statements regarding future performance, and statements regarding identified but not yet closed acquisitions. Such forward-looking statements are inherently uncertain and there are or may be important factors that could cause actual outcomes or results to differ materially from those indicated in such statements. BXPE believes these factors also include but are not limited to those described under the section entitled “Risk Factors” in its registration statement on Form 10 and annual report for the most recent fiscal year, and any such updated factors included in its periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this website (or BXPE’s filings). Except as otherwise required by federal securities laws, BXPE undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.