Blackstone has launched a new private markets fund that allows non-US investors to access its perpetual funds through a single solution for the first time.

The Blackstone Private Markets Fund (BXPM) is a new, perpetual flagship strategy that aims to provide simplified access to its private markets platform in a single allocation.

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The strategy has access to credit, real estate and infrastructure, as well as private equity.

The new fund is also the first multi-strategy solution launched as part of Blackstone Portfolio Solutions, a new initiative unveiled earlier this year to boost its $324bn (£245bn) wealth offering.

“We have thoughtfully designed BXPM to enable investors to access private equity, infrastructure, real estate and private credit in a single intentionally constructed portfolio – essentially, it’s private markets simplified by Blackstone,” said Rashmi Madan, global head of portfolio solutions and chief executive of BXPM.

Madan, a 15-year Blackstone veteran, was promoted to the newly created role of global head of portfolio solutions earlier this year, having overseen the buildout of the EMEA private wealth business.

Blackstone said at the time that Madan would lead the scale-up of Blackstone’s multi-strategy solutions.

Blackstone has over $1.3tn in assets under management across real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds.

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