Blackstone has formed a global distribution partnership with Deutsche Bank to expand access to its evergreen private equity fund, Blackstone Private Equity (BXPE).
The agreement, which excludes Germany, enhances Blackstone’s private banking relationships, helping drive BXPE’s assets to $8.5bn, according to an SEC filing.
This partnership allows Deutsche Bank to offer BXPE to clients worldwide. While Germany’s exclusion remains unclear, BXPE CEO Viral Patel emphasized Blackstone’s strong ties with major financial institutions and its continued push to broaden its distribution network.
Blackstone has previously partnered with UBS, Belgium’s KBC, and BNP Paribas in France for private credit offerings. Additionally, it has introduced a European version of BXPE, registered in Luxembourg, which invests across its private equity strategies, including growth, buyout, and life sciences.
As an evergreen semi-liquid fund, BXPE allows quarterly redemptions of up to 3% of its net asset value (NAV). Patel stated that the fund maintains 5-15% in liquid investments to effectively manage both new investments and redemptions, ensuring liquidity for investors.
Source: Citywire
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