Build wealth with Blackstone

Blackstone data as of January 31, 2024. Market data sourced from public filings and fund websites, as of December 31, 2023, and is latest available for the peer set. Based on Blackstone’s analysis of publicly available data of the total net asset value (NAV) of alternative investment firms that offer solutions for individual (non-institutional) investors to invest in private equity, real estate, infrastructure, and private credit through U.S.-domiciled semi-liquid, perpetual private market funds (including non-traded REITs and non-traded BDCs). Blackstone’s analysis compares the total NAV as of January 31, 2024 for Blackstone’s non-traded REIT, non-traded BDC products, and private equity vehicle for individual investors, to the total NAV as of December 31, 2023 of comparable products offered by alternative investment firms. This selection of alternative investment firms for comparison may not be representative of all in the category or sector. Private placement REIT and BDC products have been excluded from the dataset. 

As of September 30, 2024. Reflects assets under management from the private wealth channel across Blackstone funds. Competitor data is based on Morgan Stanley Investment Research as of October 22, 2024 or as of latest publicly available company data.

All figures as of September 30, 2024, unless otherwise indicated. Reflects assets under management from the private wealth channel across Blackstone funds.

As of September 30, 2024.

Based on estimated market value per Real Capital Analytics, as of December 31, 2023.

As of October 31, 2024. Past performance does not predict future returns. Inception to date (“ITD”) returns for BREIT are annualized consistent with the IPA Practice Guideline 2018. The inception dates for the Class S, T, D and I shares are January 1, 2017, June 1, 2017, May 1, 2017 and January 1, 2017, respectively. ITD returns for all share classes were as follows: Class S shares (no sales load) 8.9%; Class S shares (with sales load) 8.4%; Class T shares (no sales load) 9.0%; Class T shares (with sales load) 8.5%; Class D shares (no sales load) 9.6%; Class D shares (with sales load) 9.4%; Class I shares 9.8%. The foregoing reflects the percent change in the NAV per share from the beginning of the applicable period, plus the amount of any distribution per share declared in the period. All returns shown assume reinvestment of distributions pursuant to BREIT’s distribution reinvestment plan, are derived from unaudited financial information, and are net of all BREIT expenses, including general and administrative expenses, transaction-related expenses, management fees, performance participation allocation, and share class-specific fees, but exclude the impact of early repurchase deductions on the repurchase of shares that have been outstanding for less than one year. Class S, Class T and Class D shares listed as (with sales load) reflect the returns after the maximum upfront selling commission and dealer manager fees. Class S, Class T and Class D shares listed as (no sales load) exclude upfront selling commissions and dealer manager fees. With sales load returns assume payment of the maximum upfront sales charge at initial subscription (3.5% for Class S and Class T shares; 1.5% for Class D shares). The sales charge for Class D shares became effective May 1, 2018. No upfront selling commissions or stockholder servicing fees are paid for sales of any Class I shares. NAV is not a measure used under generally accepted accounting principles (“GAAP”) and will likely differ from the GAAP value of BREIT’s equity reflected in BREIT’s financial statements. Return information presented will be impacted should be assumptions on which NAV was determined prove to be incorrect. Additional information about BREIT’s net income (loss) as calculated under GAAP is included in BREIT’s annual and interim financial statements.

Based on AUM as of December 31, 2023.

As of October 31, 2024. Past performance does not predict future returns. Total Net Return (annualized) is calculated as the change in NAV per share during the period, plus distributions per share (assuming dividends and distributions are reinvested) divided by the beginning NAV per share. All returns are derived from unaudited financial information and are net of all BCRED expenses, including general and administrative expenses, transaction related expenses, management fees, incentive fees, and share class specific fees, but exclude the impact of early repurchase deductions on the repurchase of shares that have been outstanding for less than one year. ITD returns for the other class shares are as follows. Class S (with upfront placement fee) shares: 8.5%; Class D (no/with upfront placement fee) shares: 9.7% / 9.2%; Class I shares: 10.4%. Class S and Class D shares listed as (with upfront placement fee) reflect the returns after the maximum upfront selling. Class S and Class D listed as (no upfront placement fee) exclude upfront placement fees. In addition, no upfront selling commissions or shareholder servicing and/or distribution fees are paid for sales of any Class I shares and financial intermediaries will not charge transaction or other such fees on Class I shares. The returns have been prepared using unaudited data and valuations of the underlying investments in BCRED’s portfolio, which are estimates of fair value and form the basis for BCRED’s NAV. Valuations based on unaudited reports from the underlying investments may be subject to later adjustments, may not correspond to realized value and may not accurately reflect the price at which assets could be liquidated.

Private Equity International (PEI), as of June 2024, based on capital raised.

According to Blackstone, as of September 30, 2024.

Awarded by Money Management Institute (“MMI”) /Barron’s on October 17, 2024, for the period dated June 2023 – June 2024. The award described above may not be representative of any one client’s experience with Blackstone, and past performance does not predict future returns. The award herein was provided by MMI, an industry association representing financial services firms that provide financial advice and investment advisory solutions to investors, and Barron’s, a publication that reports on investing and the financial sector. Per MMI, the awards recognize companies that demonstrate leadership in advancing advisory solutions for investors and financial advisors. The criteria for awards provided by MMI/Barron’s including the award shown above may be based on subjective criteria, and are not intended to be, nor should they be construed as or relied upon as, any indication of future performance or other future activity. In addition, their selection to receive the awards and/or their rankings may have been based on a limited universe of participants, and therefore there can be no assurance that a different sampling of participants might not have achieved different results.