Strategic Partners

$69B

Assets Under Management

~5,500

Limited Partnership Interests Acquired

2,100+

Transactions Completed*

WHAT WE DO

We acquire interests in funds across asset classes, offering liquidity to investors, and co-invest alongside managers globally.

Trusted Counterparty

Sellers and general partners view us as a trustworthy and well-respected counterparty that is able to transact on a fair, timely and confidential basis. We believe our reputation and ability to execute quickly are powerful competitive advantages.

Diversified Approach

We have executed many types of transactions, from single-fund transfers to complex portfolio solutions and direct investments. We clearly define the objectives for each investment and pursue it only if it makes sense for everyone involved.

Information Advantage

Detailed, bottom-up analysis is mission-critical to our success. As one of the most active participants in the secondary market, we are able to utilize our extensive global network and deep industry knowledge to conduct thorough due diligence on each opportunity.

Our Strategies

We purchase secondary interests in mature, high-quality private equity funds from investors seeking liquidity. We also partner with our ~1,700 managers to provide a range of GP-focused liquidity solutions, including GP-led secondaries and co-investments in traditional and impact-focused investments in mission-oriented businesses. By acquiring and supporting portfolios diversified across sectors, vintage year and geography, our consistent investment approach has yielded attractive risk-adjusted returns for more than two decades.

We focus on acquiring secondary interests in mature infrastructure and real asset funds in addition to providing capital to tactical general-partner-led transactions and fund/asset recapitalizations. We target brownfield assets with core and core-plus risk profiles, while capitalizing on our favorable positioning in the high-growth infrastructure secondary market to create compelling risk/return asymmetry. We seek to unlock a range of opportunities across the following sectors: transport, regulated utilities, midstream, renewables, telecommunications and social infrastructure.

We seek significant capital appreciation through the acquisition of secondary interests in real estate funds and assets, focusing on high-quality portfolios in major commercial real estate markets and gateway cities, while capitalizing on the relatively fragmented competitive environment for real estate secondaries. We also opportunistically make secondary direct investments alongside proven sponsors, inject capital into select general-partner-led transactions, assess fund recapitalization opportunities and evaluate direct co-investments in real estate assets.

Note: All figures as of March 31, 2024, unless otherwise indicated.
*As of March 31, 2024. Past performance is not necessarily indicative of future results, and there can be no assurance that such returns will be achieved, that a fund will achieve comparable results or be able to implement its investment strategy or achieve its investment objectives or avoid substantial losses. Transaction count represents unique total across the SP platform.

Updates from Strategic Partners

PRESS RELEASE

Blackstone Strategic Partners Closes World’s Largest Secondaries Fund

Blackstone Strategic Partners closed the world’s largest secondaries fund as of January 18, 2023, with $22.2 billion in committed capital. This milestone is a testament to the remarkable growth Strategic Partners has undergone, expanding from less than $10 billion in AUM at inception to $67 billion today.

SECONDARIES INVESTOR

The Secondaries Investor 50 – fundraisers belie difficult 2023

Blackstone Strategic Partners’ Fund IX, which closed on $22.2 billion in January, was the largest secondaries fund ever raised at the time. When combined with the $2.7 billion the firm has raised for its Strategic Partners GP Solutions vehicle, this secondaries juggernaut has helped the firm maintain its status as the number one secondaries manager by capital raised in this year’s Secondaries Investor 50 ranking.

SPOTLIGHT: A PEI PODCAST