Blackstone PE Funds launch Class I-Series II/III units with $50M/$250M minimum; fees 1.05%/0.95%

Blackstone Private Equity Strategies Fund L.P.

New Class I-Series II and III units: min investment $50M and $250M respectively, lower management fees (1.05% and 0.95%) vs 1.25% for existing Series I.
Viral Patel appointed to board of directors, effective Jan 1, 2026; replaces David Blitzer who retired.
Amended investment management agreement with tiered fee structure; administration fee unchanged at 0.10%.
Amendments to limited partnership agreements to add new series and redesignate existing Class I as Series I.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Blackstone Private Equity Strategies Fund L.P.: Redesignation of existing Class I units to Class I-Series I Units and designation of new Class I-Series II and Class I-Series III units (effective 2026-01-01).

Change: bylaw amendment
Effective: 2026-01-01

Exact text from the filing

The Amendments include the redesignation of the existing Class I units of the Funds to Class I-Series I Units, the designation of two new series of Class I units of the Funds, Class I-Series II Units and Class I-Series III Units, and certain related changes in connection with such redesignation and designation.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Blackstone Private Equity Strategies Fund L.P. entered into Amended and Restated Investment Management Agreement with Blackstone Private Investments Advisors L.L.C. valued at Management fee of 1.25% on Class I-Series I Units, 1.05% on Class I-Series II Units, 0.95% on Class (effective 2026-01-01).

Action: entry
Counterparty: Blackstone Private Investments Advisors L.L.C.
Value: Management fee of 1.25% on Class I-Series I Units, 1.05% on Class I-Series II Units, 0.95% on Class
Effective: 2026-01-01

Exact text from the filing

On January 1, 2026, BXPE U.S. entered into an Amended and Restated Investment Management Agreement (the “Investment Management Agreement”) with Blackstone Private Investments Advisors L.L.C. (the “Investment Manager”), to make certain updates reflecting the designation of the Class I-Series II Units and Class I-Series III Units.

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Source: SEC EDGAR

accession 0001193125-26-000969

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