Blackstone Private Equity Fund Completes Tender Offer

Blackstone Private Equity Strategies Fund L.P. has concluded its recent tender offer, finalizing the repurchase of its limited partnership units. The offer, which closed on July 31, 2024, targeted multiple unit classes, including Class I, Class D, and Class S units, with transactions calculated at net asset values as of September 30, 2024.

A total of 73,400 units were successfully tendered and accepted, comprising 49,400 Class I units and 24,000 Class S units. All tendered units were acquired, aligning with regulatory permissions, emphasizing the fund’s intention to fully engage with investor submissions. The total valuation for these units reached approximately $1,999,374.54, underscoring a strategic and structured repurchase initiative.

The payment arrangement for the accepted units includes non-interest bearing, non-transferable promissory notes. As per the tender's outlined terms, Blackstone will disburse $1,899,419.11 on or around November 4, 2024. This amount accounts for an early repurchase deduction applied to some unit classes.

Specifically, Class S units were repurchased at $25.77 per unit, while Class I units commanded a slightly higher value of $25.93. The weighted average repurchase price settled at $25.88 per unit.

Blackstone’s comprehensive approach in this tender offer illustrates its ongoing capital management strategies and dedication to delivering value to its investors. While the transaction adjusts asset distribution within the fund, it reflects strategic financial planning consistent with Blackstone’s investment framework.

The fund’s representatives have reiterated that, aside from the disclosed outcomes, all previous statements and offer documents remain unchanged.