Blackstone Alternative Asset Management LP (New York)

Blackstone Alternative Asset Management LP is a large advisory firm based in New York. It manages $67.18 billion of regulatory assets for 165 client accounts. It has been registered with the SEC as an adviser since 2001.

Blackstone Alternative Asset Management provides portfolio management for investment companies, portfolio management for pooled investment vehicles, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Blackstone Alternative Asset Management: assets under management

The assets under management (AUM) of Blackstone Alternative Asset Management LP is $67.18 billion. The firm's AUM has grown by 3259% since the beginning of its operation, and $53.28 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $66.62 billion in discretionary accounts and $565.79 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $408.69 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $282.9 million.

Blackstone Alternative Asset Management has custody of $40.72 billion in cash and securities for 99 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in pooled investment vehicles the most. They account for 99% of the total AUM. The second-largest asset type is other assets, which make up 1% of the firm’s portfolio.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Blackstone Alternative Asset Management LP for their services and products based on a percentage of assets under management and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Blackstone Alternative Asset Management serves?

The firm provides services to insurance companies, investment companies, pooled investment vehicles, corporations or other businesses, pension and profit sharing plans, state or municipal government entities, and sovereign wealth funds and foreign official institutions. The largest group of clients of Blackstone Alternative Asset Management is pooled investment vehicles with 148 clients and $55.66 billion of assets under management. Among the 11 most similar advisory firms, Blackstone Alternative Asset Management has the 5th highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $67.18 billion for 172 clients. 72% of the firm’s clients are foreign persons or businesses.

Blackstone Alternative Asset Management also advises several private funds. Namely, twenty six hedge funds and eighty other private funds. The minimum investment commitment required of non-related persons ranges from $0 to $250,000,000.

Careers at Blackstone Alternative Asset Management LP

The company employs 243 people that are either part- or full-time employees. 40 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Indirect Owners

The SEC currently registers 16 indirect owners.

Based in New York

The principal office where Blackstone Alternative Asset Management LP performs its advisory services is located at 345 Park Ave, New York, NY 10154, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-583-5000 or by fax 212-583-5016. The normal business hours are 9:00 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at blackstone.com.

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