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.) filed an 8-K reporting that they sold unregistered limited partnership units on January 2, 2026. The BXPE U.S. raised approximately $364.17 million and the Feeder raised approximately $123.84 million, for combined proceeds of roughly $488.01 million. The BXPE Fund Program (including parallel vehicles) issued interests for about $645.2 million on that date. The final unit counts were set after calculating Transactional NAVs as of December 31, 2025, and were finalized January 28, 2026.

Key Details

• BXPE U.S. unit sales (total $364,168,574):
  • Class I, Series I: 6,619,485 units — $226,108,369
  • Class S: 3,708,965 units — $124,555,205
  • Class D: 397,345 units — $13,505,000
• Feeder unit sales (total $123,843,326):
  • Class I, Series I: 1,492,765 units — $50,505,473
  • Class S: 2,151,191 units — $71,554,853
  • Class D: 59,047 units — $1,783,000
• The Feeder acquired 3,462,547 BXPE U.S. Class I‑Series I units for ~$118.3 million to enable tax‑efficient participation by certain investors.
• The offerings were private, continuous offerings to investors who are both accredited and qualified purchasers, exempt from registration under Section 4(a)(2) and Regulation D.

Why It Matters

• For investors, the filing shows significant capital raised via private unit sales, which can affect fund size, deployment capacity, and ownership structure. The use of a feeder vehicle reflects tax and investor eligibility considerations (e.g., non-U.S. and tax‑exempt investors). Because these were private, accredited/qualified investor offerings, they were not registered public securities and were sold under exemptions from the Securities Act.