Blackstone Private Equity Strategies Fund L.P. (BXPE)
as of February 28, 2025
$29.18
net asset value per share
as of February 28, 2025
$28.89
net asset value per share
as of February 28, 2025
$29.10
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 alternative asset manager with more than $1.2 trillion in assets under management (“AUM”) and has the world’s largest private equity platform with $371 billion in AUM.2,3
Learn more about Blackstone’s private equity capabilities on Blackstone.com.
Historical NAV Per Share
| Class I | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $28.76 | $29.18 | ||||||||||
| 2024 | $25.13 | $25.31 | $25.49 | $25.70 | $25.89 | $26.24 | $26.39 | $26.96 | $27.30 | $27.60 | $28.10 | $28.46 |
| Class S | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $28.50 | $28.89 | ||||||||||
| 2024 | $25.11 | $25.27 | $25.43 | $25.63 | $25.80 | $26.13 | $26.26 | $26.80 | $27.12 | $27.40 | $27.89 | $28.22 |
| Class D | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $28.68 | $29.10 | ||||||||||
| 2024 | $25.13 | $25.30 | $25.47 | $25.68 | $25.87 | $26.21 | $26.35 | $26.91 | $27.25 | $27.54 | $28.04 | $28.39 |
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 $1.2 trillion Assets Under Management (as of March 31, 2025). 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 & Chief Operating Officer of Blackstone and is a member of the Board of Directors. He sits on the firm’s Management Committee and nearly all of its investment committees.
Mr. Gray was appointed to his current role in 2018. Since that time, Blackstone’s assets under management have more than doubled to over $1.1 trillion, as the firm has greatly expanded the breadth of clients it serves, including insurance companies and individual investors. He has also emphasized a thematic approach to investing across Blackstone’s businesses to drive performance.
Mr. Gray previously led Blackstone’s Real Estate business, which he helped build into the largest commercial real estate platform in the world. He joined Blackstone in 1992 in the M&A and Private Equity areas.
Mr. Gray has served as Chairman of the Board of Directors of Hilton Worldwide since 2007, and is also on the board of XRG.
He and his wife, Mindy, established the Basser Center for BRCA at the University of Pennsylvania School of Medicine in 2012 focused on the prevention and treatment of BRCA-related cancers. They have also established numerous programs for low-income children in New York, including creating NYC Kids Rise, a college savings initiative provided to every NYC public school kindergartner. The Grays have been named to The Chronicle of Philanthropy’s list of the largest donors in the U.S.
Mr. Gray received a BS in Economics from the Wharton School, as well as a BA in English from the College of Arts and Sciences at the University of Pennsylvania.
Follow him on LinkedIn.
Lionel Assant
Global Co-Chief Investment Officer, European Head of Private Equity
Lionel Assant is the Global Co-Chief Investment Officer of Blackstone. As Co-CIO, he works in conjunction with business unit CIOs and Group Heads to provide additional firm-level investment oversight 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, VFS and Adevinta. 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 Strategies
Joseph Baratta is Global Head of Private Equity Strategies at Blackstone and a member of Blackstone’s board of directors. Mr. Baratta joined Blackstone’s board of directors in March 2020 and has served as Blackstone’s Global Head of Private Equity since July 2012. He also sits on the firm’s Management Committee. Mr. Baratta joined Blackstone in 1998, and in 2001 he moved to London to help establish Blackstone’s corporate private equity business in Europe. 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 has served on the boards of a number of Blackstone portfolio companies and currently serves as a member or observer on the boards of directors of First Eagle Investment Management, Refinitiv, SESAC, Ancestry, Candle Media and Merlin Entertainments Group. He is a trustee of the Tate Foundation and serves on the board of Year Up, an organization focused on youth employment. Mr. Baratta graduated magna cum laude from Georgetown University.
David Blitzer*
Chairman, Tactical Opportunities
David Blitzer has served as a member of the Board of Directors since May 2022. Mr. Blitzer is also a Senior Managing Director at Blackstone, the Chairman of Blackstone’s Tactical Opportunities group (“Tac Opps”) and a member of the firm’s Management Committee. He is also a member of the Tac Opps and BXPE Investment Committees. Tac Opps is Blackstone’s opportunistic investment business which invests globally across asset classes and industries and seeks to identify and execute on attractive, differentiated investment opportunities. 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 the firm in 1991. Mr. Blitzer 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. Mr. Blitzer is a valuable member of the Board of Directors because of his extensive private equity and investing experience, his history with Blackstone and his leadership within Tac Opps and Blackstone’s private equity strategies.
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.
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 & Chief Operating Officer of Blackstone and is a member of the Board of Directors. He sits on the firm’s Management Committee and nearly all of its investment committees.
Mr. Gray was appointed to his current role in 2018. Since that time, Blackstone’s assets under management have more than doubled to over $1.1 trillion, as the firm has greatly expanded the breadth of clients it serves, including insurance companies and individual investors. He has also emphasized a thematic approach to investing across Blackstone’s businesses to drive performance.
Mr. Gray previously led Blackstone’s Real Estate business, which he helped build into the largest commercial real estate platform in the world. He joined Blackstone in 1992 in the M&A and Private Equity areas.
Mr. Gray has served as Chairman of the Board of Directors of Hilton Worldwide since 2007, and is also on the board of XRG.
He and his wife, Mindy, established the Basser Center for BRCA at the University of Pennsylvania School of Medicine in 2012 focused on the prevention and treatment of BRCA-related cancers. They have also established numerous programs for low-income children in New York, including creating NYC Kids Rise, a college savings initiative provided to every NYC public school kindergartner. The Grays have been named to The Chronicle of Philanthropy’s list of the largest donors in the U.S.
Mr. Gray received a BS in Economics from the Wharton School, as well as a BA in English from the College of Arts and Sciences at the University of Pennsylvania.
Follow him on LinkedIn.
Lionel Assant
Global Co-Chief Investment Officer, European Head of Private Equity
Lionel Assant is the Global Co-Chief Investment Officer of Blackstone. As Co-CIO, he works in conjunction with business unit CIOs and Group Heads to provide additional firm-level investment oversight 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, VFS and Adevinta. 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 Strategies
Joseph Baratta is Global Head of Private Equity Strategies at Blackstone and a member of Blackstone’s board of directors. Mr. Baratta joined Blackstone’s board of directors in March 2020 and has served as Blackstone’s Global Head of Private Equity since July 2012. He also sits on the firm’s Management Committee. Mr. Baratta joined Blackstone in 1998, and in 2001 he moved to London to help establish Blackstone’s corporate private equity business in Europe. 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 has served on the boards of a number of Blackstone portfolio companies and currently serves as a member or observer on the boards of directors of First Eagle Investment Management, Refinitiv, SESAC, Ancestry, Candle Media and Merlin Entertainments Group. He is a trustee of the Tate Foundation and serves on the board of Year Up, an organization focused on youth employment. Mr. Baratta graduated magna cum laude from Georgetown University.
David Blitzer*
Chairman, Tactical Opportunities
David Blitzer has served as a member of the Board of Directors since May 2022. Mr. Blitzer is also a Senior Managing Director at Blackstone, the Chairman of Blackstone’s Tactical Opportunities group (“Tac Opps”) and a member of the firm’s Management Committee. He is also a member of the Tac Opps and BXPE Investment Committees. Tac Opps is Blackstone’s opportunistic investment business which invests globally across asset classes and industries and seeks to identify and execute on attractive, differentiated investment opportunities. 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 the firm in 1991. Mr. Blitzer 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. Mr. Blitzer is a valuable member of the Board of Directors because of his extensive private equity and investing experience, his history with Blackstone and his leadership within Tac Opps and Blackstone’s private equity strategies.
Martin Brand
Head of Capital Partners and Global Co-Head of Technology Investing
Martin Brand is Blackstone’s Head of North America Private Equity and Global Co-Head of Technology Investing. He also serves as a member of several of Blackstone’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 and Vice Chairman
Michael Chae is Blackstone’s Vice Chairman and Chief Financial Officer and a member of the firm’s Management Committee and investment committees across most of the firm’s businesses. Mr. Chae has served as Blackstone’s Vice Chairman and Chief Financial Officer since January 2025 and August 2015, respectively. He chairs Blackstone’s firmwide valuation and enterprise risk committees. 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 investments and served on the boards of many private and publicly traded portfolio companies. Before joining Blackstone, Mr. Chae worked at The Carlyle Group and Dillon, Read & Co. 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. Mr. Chae serves on the boards of the Harvard Management Company, the Robin Hood Foundation, the Asia Society and St. Bernard’s School. He previously served as the President of the board of trustees of the Lawrenceville School where he remains a trustee emeritus. He is a member of the Council on Foreign Relations and founded the Chae Initiative in Private Sector Leadership at Yale Law School.
Christopher James*
Chairperson, BXPE and Global Head, Tactical Opportunities
Christopher James has served as the Chairperson of BXPE since November 2022 and a member of the Board of Directors since May 2022. He is also the Global Head of Blackstone’s Tactical Opportunities group (“Tac Opps”). Mr. James also is a member of the Investment Committees for BXPE, the Tac Opps and Blackstone Growth funds. Prior to launching Tac Opps in 2012, Mr. James had been involved in the execution of Blackstone strategic initiatives and investments across a variety of asset classes including the firm’s initial public offering and the firm’s investments in GSO, Pátria Investimentos and Strategic Partners. He has served on the boards of various Blackstone portfolio companies. 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.
Eric Liaw
Chief Investment Officer, BXPE
Eric Liaw has served as the Chief Investment Officer of BXPE since October 2023. Mr. Liaw previously served as the Head of Portfolio Management of BXPE from November 2022 to October 2023. He also is a Senior Managing Director, 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. 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 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 and Executive Chairman of Asia Private Equity
Prakash Melwani is the Global Chief Investment Officer of the Private Equity Group and is also the Executive Chairman of the firm’s Private Equity business in Asia. 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 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. 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 has been elected an Honorary Fellow at Sidney Sussex College, Cambridge University and has been appointed an Executive Fellow at Harvard Business School. He sits on the Board of the International Rescue Committee and is also a member of the Council on Foreign Relations.
Viral Patel
Chief Executive Officer, BXPE
Viral Patel has served as the Chief Executive Officer of BXPE since April 2024. Mr. Patel is also 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 and Global Head of Institutional Client Solutions
Vikrant Sawhney is Blackstone’s Chief Administrative Officer and Global Head of Institutional Client Solutions and a member of the firm’s Management Committee. Mr. Sawhney has served as Blackstone’s Chief Administrative Officer and Global Head of Institutional Client Services since September 2019. 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 at Deutsche Bank, and prior to that at the law firm of Simpson Thacher & Bartlett. Mr. Sawhney currently sits on the Board of the Blackstone Charitable Foundation. He is also the chair of the board of directors of Dream, an east Harlem-based educational and social services organization, and a Trustee of Quinnipiac University. He graduated magna cum laude from Dartmouth College, where he was elected to Phi Beta Kappa. He received a J.D., cum laude, from Harvard Law School.
Joan Solotar*
Global Head of Private Wealth Solutions
Joan Solotar has served as a member of the Board of Directors since May 2022. She is also a member of the BXPE Investment Committee. Ms. Solotar is the Global Head of Blackstone’s Private Wealth Solutions business, which brings institutional quality investment products across a broad spectrum of alternative asset classes to high net worth clients and their advisors. She serves on Blackstone’s Management Committee and Operating Committee, as well as on the board of directors of First Eagle Investment Management. Additionally, Ms. Solotar serves as a member of the board of directors of Blackstone Infrastructure Strategies L.P. and is a member of the BXINFRA Investment Committee. 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 Mount Sinai Health System, Inc, and 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. Ms. Solotar is a valuable member of the Board of Directors due to her extensive experience in capital markets, delivering a broad array of Blackstone funds to individual investors, and her leadership as global head of Blackstone’s Private Wealth Solutions group.
BXPE Senior Leadership
Christopher James*
Chairperson
Christopher James has served as the Chairperson of BXPE since November 2022 and a member of the Board of Directors since May 2022. He is also the Global Head of Blackstone’s Tactical Opportunities group (“Tac Opps”). Mr. James also is a member of the Investment Committees for BXPE, the Tac Opps and Blackstone Growth funds. Prior to launching Tac Opps in 2012, Mr. James had been involved in the execution of Blackstone strategic initiatives and investments across a variety of asset classes including the firm’s initial public offering and the firm’s investments in GSO, Pátria Investimentos and Strategic Partners. He has served on the boards of various Blackstone portfolio companies. 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 has served as the Chief Executive Officer of BXPE since April 2024. Mr. Patel is also 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 has served as the President of BXPE since May 2022. He is also a Senior Managing Director of Blackstone. 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.
Matthew Bucci
Chief Operating Officer
Matt Bucci has served as the Chief Operating Officer of BXPE since January 2025. He is also a Senior Managing Director at Blackstone, based in New York. In his role as Chief Operating Officer of BXPE, he oversees strategy, operations and administration for the business. Previously, he served as Chief Operating Officer for Global Corporate Affairs, supporting Public Affairs, Marketing and Sustainability functions across Blackstone. Before joining Blackstone in 2022, Mr. Bucci served as senior advisor for the U.S. Department of Commerce, where he provided strategic guidance on significant initiatives. Previously, Mr. Bucci held several leadership roles on Capitol Hill as well as in state government. He also served as Vice President for Strategic Growth at AECOM, a leading global infrastructure consulting firm, driving key business development and operational efforts. Mr. Bucci graduated from Quinnipiac University.
Eric Liaw
Chief Investment Officer
Eric Liaw has served as the Chief Investment Officer of BXPE since October 2023. Mr. Liaw previously served as the Head of Portfolio Management of BXPE from November 2022 to October 2023. He also is a Senior Managing Director, 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. 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 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.
Christopher Striano
Chief Financial Officer
Christopher Striano has served as the Chief Financial Officer of BXPE since July 2022. Mr. Striano also serves as the Chief Financial Officer of Blackstone Infrastructure Strategies L.P. and as a Senior Managing Director 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 Portfolio Management, Investment & Corporate Operations, Global Fund Finance, Enterprise Operations, and Global Corporate Services 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 has served as the Chief Product Officer for BXPE since October 2023. Mr. Katz is also a Senior Managing Director at Blackstone. He is also focused on driving fund marketing initiatives, as well as investor relations for 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 B.A. from the University of Michigan and an M.B.A. from the Wharton School of the University of Pennsylvania.
BXPE Independent Directors
Raymond J. Beier*
Independent Director
Raymond J. Beier has served as a member of the Board of Directors and Audit Committee Chair since July 2022. Mr. Beier also serves as a director and audit committee chair of Blackstone Real Estate Income Trust, Inc. 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.
Grace Vandecruze*
Independent Director
Grace Vandecruze has served as a member of the Board of Directors since November 2022. Ms. Vandecruze also serves as a member of the board of directors and audit committee chair of Blackstone Infrastructure Strategies L.P. 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 D. Hershey has served as a member of the Board of Directors since January 2024. Mr. Hershey also serves as a member of the board of directors of Blackstone Infrastructure Strategies L.P. 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 and certain affiliates of Talcott Financial Group Investments.
Susan Roth Katzke*
Independent Director
Susan Roth Katzke has served as a member of the Board of Directors since June 2024. Ms. Katzke also serves as a member of the board of directors of Blackstone Infrastructure Strategies L.P. From June 2014 until December 2023, Ms. Katzke served as a Managing Director of Credit Suisse, where she was responsible for equity research coverage of the U.S. large cap banks and leadership of the bank research team globally. Ms. Katzke received numerous honors for equity research coverage during her 30+ year Wall Street career; she continues to be a frequent presenter and advisor to senior management teams, corporate boards and financial services industry groups. Ms. Katzke also serves on the board of trustees and as vice chair of the audit committee of The Masters School, has served on various non-profit boards, and has served as a career coach for Harvard Business School M.B.A. candidates. In 2012, Ms. Katzke was appointed by the U.S. Department of the Treasury to serve on the board of directors of Intervest Bancshares Corporation, a role she held until the bank’s sale to Bank of the Ozarks, in 2015. Ms. Katzke received a B.S. in Economics, with honors, from The Wharton School of the University of Pennsylvania and an M.B.A. from Harvard Business School.
*Serves on the BXPE 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.
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.
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- 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.
- Based on Blackstone analysis of company earnings presentations and calls, as of March 31, 2025, or latest publicly available data.
- Source: Private Equity International (PEI), as of June 2024, based on capital raised between January 1, 2019 and December 31, 2023.
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, 2025. 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.
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