Blackstone Alternative Asset Management L.P.
- Regulatory AUM
- $92.0B
- Discretionary
- $88.3B
- Clients
- 181
- Avg AUM / client
- $508M
- Accounts
- 174
- Employees
- 293
AUM over time
Annual snapshots from Form ADV filings · as of Jun 24, 2026
Asset allocation (SMA assets by investment type)
as of Jun 24, 2026Share of SMA assets by investment vehicle type, as filed in Form ADV Item 5.K. Dollar figures are percentages applied to total regulatory AUM.
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 159 | $81.4B | 88.4% |
| Pension and profit sharing plans | 10 | $1.8B | 1.91% |
| State or municipal government entities | 1 | $0 | — |
| Other investment advisers | 2 | $4.0B | 4.33% |
| Insurance companies | 1 | — | — |
| Sovereign wealth funds and foreign official institutions | 7 | $2.9B | 3.15% |
| Corporations and other businesses | 1 | $2.0B | 2.17% |
Private funds (107)
View all →Reported in Form ADV Section 7.B.(1), filing of Oct 2024 · $68.9B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Blackstone Partners Os Master Icav master | Other Private Fund | Ireland | $9.0B | 12 |
| Blackstone Partners Offshore Fund Ltd. feeder | Other Private Fund | Cayman Islands | $4.8B | 407 |
| Tahquamenon Fund L.P. | Other Private Fund | Delaware | $4.8B | 9 |
| San Francisco Absolute Return Investors Ii L.P. | Other Private Fund | Delaware | $3.2B | 2 |
| Blackstone Partners Non Taxable Offshore Master Fund Ltd. master | Other Private Fund | Cayman Islands | $3.0B | 1 |
| Bpif Non Taxable L.P. feeder | Other Private Fund | Delaware | $3.0B | 58 |
| Blackstone Fixed Income And Trading Opportunities Offshore Fund Ltd. | Other Private Fund | Cayman Islands | $2.5B | 23 |
| Blackstone Partners Investment Fund L.P. | Other Private Fund | Delaware | $2.3B | 527 |
| Blackstone Csp Mst Fmap Fund | Hedge Fund | Bermuda | $1.9B | 1 |
| Blackstone Partners Offshore Japan Unit Trust Yen Non Distribution Sub Fund feeder | Other Private Fund | Cayman Islands | $1.5B | 120 |
| Bemap Master Fund Ltd. master | Hedge Fund | Cayman Islands | $1.4B | 8 |
| Blackstone Partners Offshore Sterling Fund Ltd. feeder | Other Private Fund | Cayman Islands | $1.3B | 17 |
| Blackstone Global Park Avenue Offshore Master Fund Ltd. | Other Private Fund | Cayman Islands | $1.3B | 12 |
| Blackstone Fixed Income And Trading Opportunities Fund L.P. | Other Private Fund | Delaware | $1.2B | 9 |
| Hope Street Fund L.P. | Other Private Fund | Delaware | $1.1B | 3 |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| Iam National Pension Fund Board Of Trustees Of The I.A.M. National Pension Fund | 2024 | |
| I.B.E.W. Local 456 Pension Plan Ibew Joint Pension Fund Local 456 | 2024 | |
| I.B.E.W. Local Union # 654 Defined Benefit Pension Plan Ibew Lu 654 Pension Fund Trustees | 2024 |
People (4)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Gavin, Brian, Francis | Chief Operating Officer Of Blackstone Alternative Asset Management L.P. | Jan 2007 (20y) | Less than 5% | |
| Oconnor, Stephen, Burke | Chief Compliance Officer Of Blackstone Alternative Asset Management L.P. | Oct 2018 (8y) | Less than 5% | |
| Dowling, Joseph, Leo | Global Head Of Blackstone Alternative Asset Management L.P. | Dec 2021 (5y) | Less than 5% | |
| Pitts, Jack, Nelson Evangelista | General Counsel Of Blackstone Alternative Asset Management L.P. | Jan 2022 (5y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Blackstone Holdings I Sub (Baam) Gp L.L.C. | General Partner | Mar 2008 | A | 75% or more |
| Blackstone Intermediary Holdco L.L.C. | Limited Partner | Jul 2011 | A | Less than 5% |
| Blackstone Holdings I L.P. | Limited Partner | Jun 2007 | B | ≈ 0% – 5% via Blackstone Group Holdings L.P. |
| Blackstone Intermediary Holdco L.L.C. | Sole Member | Jul 2011 | B | ≈ 56.25% – 100% via Blackstone Holdings I Sub (Baam) Gp L.L.C. |
| Blackstone Securities Partners L.P. | Sole Member | Jul 2011 | B | ≈ 0% – 5% via Blackstone Intermediary Holdco L.L.C. |
| Blackstone Group Holdings L.P. | Limited Partner | Jul 2011 | B | ≈ 0% – 5% via Blackstone Securities Partners L.P. |
| Blackstone Inc. | Sole Member | Jun 2007 | B | 75% or more of Blackstone Holdings I/Ii Gp Llc (indirect) |
| Blackstone Holdings I/Ii Gp Llc | General Partner | Jun 2007 | B | GP / trustee / elected manager of Blackstone Holdings I L.P. (indirect) |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Blackstone Holdings I L.P.: 75% – 100% of Blackstone Group Holdings L.P. × 75% – 100% of Blackstone Securities Partners L.P. × 75% – 100% of Blackstone Intermediary Holdco L.L.C. × 0% – 5% direct ≈ 0% – 5% of the firm
- Blackstone Intermediary Holdco L.L.C.: 75% – 100% of Blackstone Holdings I Sub (Baam) Gp L.L.C. × 75% – 100% direct ≈ 56.25% – 100% of the firm
- Blackstone Securities Partners L.P.: 75% – 100% of Blackstone Intermediary Holdco L.L.C. × 0% – 5% direct ≈ 0% – 5% of the firm
- Blackstone Group Holdings L.P.: 75% – 100% of Blackstone Securities Partners L.P. × 75% – 100% of Blackstone Intermediary Holdco L.L.C. × 0% – 5% direct ≈ 0% – 5% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (107, $68.9B gross assets)
Top 25 of 107 funds by gross assets · all funds
From Form ADV Section 7.B private fund reporting.
Retirement plans served (3)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| Iam National Pension Fund | Board Of Trustees Of The I.A.M. National Pension Fund | 102,863 | $15.0B | 01/01/2024 |
| I.B.E.W. Local 456 Pension Plan | Ibew Joint Pension Fund Local 456 | 712 | $302M | 01/01/2024 |
| I.B.E.W. Local Union # 654 Defined Benefit Pension Plan | Ibew Lu 654 Pension Fund Trustees | 403 | $152M | 01/01/2024 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 06/24/2026 | 26.6 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
- • Selection of other advisers
Custody
Reported custodians
- Northern Trust $2.2B (2% of AUM) Jun 2026
- Citco Canada $2.0B (2% of AUM) Jun 2026
- Citco Global Custody Nv $1.7B (2% of AUM) Feb 2023
- RBC $1.4B (2% of AUM) Jun 2026
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Jun 24, 2026.
View current Form ADV (SEC/IAPD) ↗