The flagship private equity vehicle also raised roughly $335 million in fresh capital as its broader program approached $22.3 billion in value.

June 1, 2026

Blackstone Private Equity Strategies Fund, the firm’s vehicle bringing institutional-style private equity investing to wealthy individual investors, has significantly expanded its borrowing capacity and continued to attract substantial investor capital, according to disclosures dated late May 2026.

Expanded Credit Facility

On May 27, 2026, an affiliate that conducts the fund’s investment activities — BXPE US Aggregator, a Cayman Islands entity acting as borrower — entered into an amendment to its existing credit agreement with Wells Fargo Bank serving as administrative agent. The amendment lifted aggregate commitments under the facility to $2.65 billion, with provisions allowing further permanent or temporary increases subject to agreement among the lead arrangers and participating lenders.

The amendment also reshaped several key terms of the facility, which was originally dated October 2024:

• Maturity: Extended to May 25, 2029, with two additional one-year extension options available upon payment of fees and satisfaction of customary conditions.
• Interest rates: U.S. dollar borrowings now bear interest, at the borrower’s election, at one-month term SOFR plus 3.00%, daily simple SOFR plus 3.00%, or a base rate plus 2.00%.
• Other revisions: Updates to unused facility fees and modifications to certain financial covenants, reporting requirements, and borrowing base terms.

Wells Fargo and Citibank acted as joint lead arrangers and co-structuring agents.

New Capital Raised

Alongside the financing update, the fund disclosed continued momentum in its capital raising. On May 1, 2026, the two registrant entities — Blackstone Private Equity Strategies Fund L.P., referred to as BXPE U.S., and its tax-oriented feeder vehicle, Blackstone Private Equity Strategies Fund (TE) L.P. — sold unregistered limited partnership units for aggregate consideration of approximately $334.7 million and $112.6 million, respectively.

For the main fund, the largest portion of the sale came through Class I, Series I units, accounting for roughly 5.7 million units and about $208.3 million in proceeds. Class S units contributed approximately $124.4 million, with smaller amounts raised through Class D and Class N units. The feeder vehicle, designed to let tax-exempt and non-U.S. investors participate more efficiently, raised capital primarily through its own Class I and Class S units and in turn acquired roughly 3.06 million Class I units in the main fund for approximately $111.9 million.

Across the entire BXPE Fund Program, which includes parallel Blackstone-managed vehicles but excludes the separately operated Luxembourg-based SICAV structure, interests were issued for aggregate consideration of approximately $500 million on May 1. The units were offered through continuous private offerings limited to investors qualifying as both accredited investors and qualified purchasers, exempt from registration under the Securities Act.

Net Asset Values and Program Scale

The fund also disclosed transactional net asset values per unit as of April 30, 2026, which it uses to set the price for unit transactions. For the main fund, Class I Series I units were valued at $36.51, with Class S units at $35.79, Class D at $36.21, and Class N at $28.83. The feeder vehicle reported comparable values, with Class I Series I units at $36.14.

The figures underscore the considerable scale the program has reached. As of April 30, 2026, the broader BXPE Fund Program’s aggregate transactional NAV stood at approximately $22.3 billion, while the BXPE portion specifically — excluding the Luxembourg vehicle — represented approximately $15.3 billion.

The fund noted that its transactional NAV calculations reflect month-end investment values net of liabilities, fees, and expenses, determined under a board-approved valuation policy. Organizational and offering expenses advanced by the investment manager are recognized as reductions to NAV ratably over a 60-month period that began in January 2025. The fund cautioned that transactional NAV may differ from net asset value calculated under U.S. generally accepted accounting principles.

The dual disclosures reflect the continued expansion of Blackstone’s private wealth platform, which spans multiple asset classes. The firm’s credit-focused vehicles, including Blackstone Private Credit Fund and Blackstone Private Real Estate Credit and Income Fund, have similarly pursued aggressive capital raising and financing strategies in recent months as Blackstone broadens access to private markets among individual investors.