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

other names

BLACKSTONE REAL ESTATE ADVISORS V L.P.

Adviser Profile

As of Date	10/01/2025
ADV Location	NEW YORK, NY, United States
Adviser Type - Large advisory firm - Related adviser
Number of Employees	425 -17%
of those in investment advisory functions	210 -18%
Registration	SEC, Approved, 12/12/2005

AUM^*	94,935,146 -67%
of that, discretionary	94,935,146 -67%
Private Fund GAV^*	94,935,146 -67%
Avg Account Size	23,733,787 -67%
SMA’s	No
Private Funds	6 2
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 TypePrivate Equity Fund	Count2	GAV$
Fund TypeReal Estate Fund	Count4	GAV$94,935,146

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 HVPF MANAGER II, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund430.0m	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV430.0m	AUM430.0m	#Funds3
Adviser RESOURCE LAND HOLDINGS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund287.3m	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV287.3m	AUM287.3m	#Funds1
Adviser BLACK IMPACT GROUP, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund733.0m	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV733.0m	AUM241.6m	#Funds8
Adviser CIRRUS REAL ESTATE PARTNERS	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund1.0b	Securitized Asset Fund-	Venture Capital Fund-	Other Fund800.0m	Total Private Fund GAV1.8b	AUM819.1m	#Funds21
Adviser LANSING STREET ADVISORS	Hedge Fund-	Liquidity Fund-	Private Equity Fund2.2m	Real Estate Fund48.7m	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV51.0m	AUM438.7m	#Funds39
Adviser SDS REAL ESTATE ADVISORS	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund399.7m	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV399.7m	AUM399.5m	#Funds6
Adviser COMUNIDAD REALTY PARTNERS	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund264.5m	Securitized Asset Fund-	Venture Capital Fund-	Other Fund125.0k	Total Private Fund GAV264.6m	AUM264.5m	#Funds5
Adviser MACHINE INVESTMENT GROUP, LP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund455.3m	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV455.3m	AUM455.3m	#Funds13
Adviser SAGE CAPITAL MANAGEMENT LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund1.2m	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.2m	AUM352.3m	#Funds1
Adviser DI INVESTMENT MANAGEMENT LP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund365.4m	Securitized Asset Fund-	Venture Capital Fund-	Other Fund1.5b	Total Private Fund GAV1.9b	AUM365.4m	#Funds6

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 $291.9 million 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 V L.P.

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Brochure Summary

Overview