Blackstone Private Equity Strategies Fund L.P. 8-K

What Happened
Blackstone Private Equity Strategies Fund L.P. (BXPE U.S.) and its feeder vehicle Blackstone Private Equity Strategies Fund (TE) L.P. (the Feeder) filed an 8‑K reporting unregistered sales of limited partnership units on December 1, 2025. Together the two Funds sold units for aggregate consideration of approximately $353.66 million (BXPE U.S.) and $140.03 million (Feeder), a combined total of about $493.7 million. The number of units sold was finalized on December 29, 2025 after calculating Transactional NAVs as of November 30, 2025.

Key Details

• BXPE U.S. unit sales (Dec 1, 2025):
  • Class I: 6,685,567 units for $223,825,415
  • Class S: 3,676,121 units for $121,083,699
  • Class D: 187,578 units for $6,250,000
  • Class N: 94,355 units for $2,500,000
  • Total: $353,659,114
• Feeder unit sales (Dec 1, 2025):
  • Class I: 1,754,776 units for $58,239,627
  • Class S: 2,504,969 units for $81,793,751
  • Total: $140,033,378
• The Feeder acquired 4,179,002 BXPE U.S. Class I Units for approximately $139.9 million to allow tax‑efficient participation by certain investors (e.g., tax‑exempt and non‑U.S. investors).
• The BXPE Fund Program (which includes these Funds and other Blackstone‑managed vehicles) issued interests for about $689.6 million on December 1, 2025.
• Offerings were made privately to investors who are both accredited investors and qualified purchasers and were exempt from registration under Section 4(a)(2) and Regulation D (Item 3.02 and Item 7.01 disclosures).

Why It Matters
This filing documents a substantial private capital raise for the BXPE fund complex — nearly $494 million raised by these two vehicles and about $689.6 million across the BXPE Fund Program on December 1, 2025. For current and potential investors, the items show ongoing investor demand and capital flows into the fund program, the use of a feeder for tax‑sensitive investors, and that final unit allocations were tied to Transactional NAV calculations dated November 30, 2025. The sales were done via private offering exemptions, not a public registration.