Does Blackstone’s New BXPM Fund Subtly Redefine BX’s Private‑Markets Capital‑Raising Playbook?

Earlier this week, Blackstone announced the launch of the Blackstone Private Markets Fund (BXPM), a perpetual vehicle giving eligible non‑U.S. investors simplified, single‑allocation access to its private equity, infrastructure, real estate and credit platforms. BXPM is the first multi‑strategy solution within Blackstone Portfolio Solutions, effectively bundling exposure to businesses overseeing hundreds of billions of dollars across four private‑market asset classes into one product. We’ll...