9AT: BLACKSTONE REAL ESTATE ADVISORS EUROPE L.P.

other names

BLACKSTONE REAL ESTATE ADVISORS EUROPE L.P.
BLACKSTONE REAL ESTATE ADVISORS INTERNATIONAL II L.P.

Adviser Profile

As of Date	10/01/2025
ADV Location	NEW YORK, NY, United States
Adviser Type - Large advisory firm
Number of Employees	621 -12%
of those in investment advisory functions	404 -10%
Registration	SEC, Approved, 07/27/2005

AUM^*	2,953,056,300 -16%
of that, discretionary	2,953,056,300 -16%
Private Fund GAV^*	2,953,056,300 -17%
Avg Account Size	328,117,367 -16%
SMA’s	No
Private Funds	9 4
Contact Info	212 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Fund Type	Count	GAV
Fund TypeReal Estate Fund	Count9	GAV$2,953,056,300

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser FCP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund3.3b	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV3.3b	AUM3.8b	#Funds9
Adviser AVANATH CAPITAL MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund3.6b	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV3.6b	AUM3.6b	#Funds15
Adviser GCP INVESTMENT ADVISOR, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund3.3b	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV3.3b	AUM3.3b	#Funds13
Adviser ACRES	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund1.3b	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.3b	AUM3.2b	#Funds1
Adviser BENTALLGREENOAK STRATEGIC CAPITAL PARTNERS	Hedge Fund-	Liquidity Fund-	Private Equity Fund145.0m	Real Estate Fund4.6b	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV4.7b	AUM3.5b	#Funds106
Adviser WATERTON INVESTMENT ADVISER, L.L.C.	Hedge Fund100.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund4.4b	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV4.5b	AUM4.5b	#Funds16
Adviser TGM ASSOCIATES L.P.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund3.6b	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV3.6b	AUM3.6b	#Funds7
Adviser LUBERT-ADLER MANAGEMENT COMPANY, L.P.	Hedge Fund-	Liquidity Fund-	Private Equity Fund760.7m	Real Estate Fund3.0b	Securitized Asset Fund-	Venture Capital Fund-	Other Fund12.0m	Total Private Fund GAV3.8b	AUM3.0b	#Funds44
Adviser PENNYBACKER CAPITAL MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund2.5b	Real Estate Fund3.5b	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV6.0b	AUM5.2b	#Funds35
Adviser GLOBAL FOREST PARTNERS LP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund6.2b	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV6.2b	AUM3.7b	#Funds17

Brochure Summary

Overview

11 Overview of the Firm The Adviser, directly or indirectly through its subsidiaries, provides investment advisory services to its Clients, and Affiliates of the Adviser generally serve as General Partner of each Client. The Adviser’s Clients primarily make control-oriented “opportunistic” Investments in real estate and real estate related assets and companies. The Adviser also serves as an investment sub-advisor to certain Investment Vehicles, pursuant to sub-advisory agreements with the applicable Investment Vehicle’s investment adviser. The ultimate parent of the Adviser is Blackstone. Please see the structure chart below. Blackstone is a global alternative investment manager with Investment Vehicles focused on real estate, private equity, hedge fund solutions, credit, infrastructure, secondary funds of funds and multi-asset class strategies. Please see Item 10 – Other Financial Industry Activities and Affiliations for more information.
12 As of December 31, 2023, the Adviser had regulatory assets under management of approximately $3.6 billion on a discretionary

basis. Please note that this figure is an unaudited estimate.
Description of Advisory Services The Adviser serves as investment adviser to its Clients pursuant to the Advisory Agreements. The Adviser performs the following services, among others, for its Clients: 1. Identifies and analyzes investment opportunities; 2. Makes investment recommendations to the General Partner of each Client, as applicable; 3. Participates in the monitoring and evaluation of Investments; and 4. Provides other related services in connection with the implementation of the investment program of each Client, including, without limitation, arranging for and coordinating the services of other professionals and consultants.
The Adviser tailors its advisory services to the particular needs of each Client. However, the specific needs of the individual Investors in a Client (i.e., limited partner investors) are not the basis for recommendations by the Adviser. Investment advice is provided directly to the Client, not individually to the respective Investors in the Client.

BLACKSTONE REAL ESTATE ADVISORS EUROPE L.P.

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Brochure Summary

Overview