Blackstone Private Markets Fund BXPM Launches for Non-U.S. Investors

Blackstone announced on September 24, 2026, the launch of Blackstone Private Markets Fund (BXPM), a new perpetual flagship strategy providing simplified access to the firm’s private markets platform in a single allocation. In its launch announcement, the firm said the strategy provides exposure across four core asset classes through Blackstone’s $364 billion private equity strategies, $90 billion infrastructure business, $314 billion real estate business, and $469 billion credit and insurance business.

Blackstone said BXPM marks the first time eligible non-U.S. investors will have access to its institutional quality perpetual funds through a single solution, providing broad-based private markets exposure across four core asset classes.

Access Across Four Core Asset Classes

The fund’s private equity access runs through Blackstone’s $364 billion private equity strategies, a group spanning corporate private equity, tactical opportunities, growth, and life sciences, as well as the firm’s secondaries business. Its private infrastructure access runs through the $90 billion infrastructure business, which actively invests across energy, transportation, and digital infrastructure, according to the release.

Private real estate access runs through Blackstone’s $314 billion real estate business, which the firm describes as the largest owner of commercial real estate globally. Credit access runs through the $469 billion credit and insurance business, which spans global credit markets.

Blackstone said the launch builds on the firm’s scale and a nearly 25-year track record of delivering private markets solutions for eligible investors, powered by the firm’s $324 billion Private Wealth business.

First Strategy From Blackstone Portfolio Solutions

BXPM is the first multi-strategy solution launched as part of Blackstone Portfolio Solutions, an initiative the firm introduced in a March 10, 2026, announcement. In that announcement, Blackstone said it had promoted Rashmi Madan, a 15-year veteran of the firm, to the newly created role of Global Head of Portfolio Solutions after she oversaw the buildout of its EMEA private wealth business. The firm said Madan would lead the scaling of Blackstone’s multi-strategy solutions, drawing on her deep expertise across asset classes and longstanding relationships with clients, and that it intended to develop several investment solutions as part of the newly formed initiative.

The same announcement said Simona Maellare would join Blackstone as Head of EMEA for Private Wealth, leading the firm’s efforts to further expand and deepen its private wealth business across Europe and the Middle East. Maellare was most recently Global Co-Head of Alternative Capital Group at UBS and EMEA Co-Head of OneUBS, with more than 30 years of experience advising and partnering with alternative asset managers on capital raising and strategic growth across EMEA, according to the announcement.

At the time of the March announcement, Blackstone reported over $300 billion in assets under management from its private wealth channel globally and described the business as a pioneer in serving individual investors for more than two decades. The firm said the appointments strengthened its leadership across two priority business areas for its next phase of growth and would contribute to the expansion of multi-strategy investment solutions for advisors and their clients, as well as the acceleration of its international private wealth footprint.

Madan said in March that multi-asset investing allows clients a way to access the breadth of Blackstone within a single strategy, and that Blackstone Portfolio Solutions would help deliver seamless, investor-centric portfolios built on the firm’s flagship perpetual offerings.

Joan Solotar, Global Head of Private Wealth, said: “Blackstone has been a leader in broadening access to private markets for more than two decades. Today marks a step in that journey: BXPM is the first strategy that gives eligible investors access to Blackstone in a single, simple allocation.”

Madan, Global Head of Portfolio Solutions and CEO of BXPM, said: “We have thoughtfully designed BXPM to enable investors to access private equity, infrastructure, real estate and private credit in a single intentionally constructed portfolio – essentially, it’s private markets simplified by Blackstone.”