9AT: BLACKSTONE REAL ESTATE SPECIAL SITUATIONS ADVISORS L.L.C.

other names

BLACKSTONE REAL ESTATE SPECIAL SITUATIONS ADVISORS L.L.C.
BLACKSTONE REAL ESTATE SPECIAL SITUATIONS ADVISORS (ISOBEL) L.L.C. (RELYING ADVISER)
BXMT ADVISORS L.L.C. (RELYING ADVISER)
BLACKSTONE REAL ESTATE SPECIAL SITUATIONS ADVISORS L.L.C

Adviser Profile

As of Date	10/01/2025
ADV Location	NEW YORK, NY, United States
Adviser Type - Large advisory firm
Number of Employees	273 -4%
of those in investment advisory functions	139 -7%
Registration	SEC, Approved, 01/15/2008

AUM^*	64,262,511,968 -6%
of that, discretionary	64,262,511,968 -6%
Private Fund GAV^*	20,803,482,244 12%
Avg Account Size	803,281,400 -17%
SMA’s	Yes
Private Funds	47 18
Contact Info	212 xxxxxxx
Websites

Client Types

- Investment companies
- Pooled investment vehicles
- State or municipal government entities
- Insurance companies

Advisory Activities

- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

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

Fund Type	Count	GAV
Fund TypeHedge Fund	Count9	GAV$1,616,635,619
Fund TypePrivate Equity Fund	Count4	GAV$
Fund TypeReal Estate Fund	Count34	GAV$19,186,846,625

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 PGIM PRIVATE ALTERNATIVES (UK) LIMITED	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund284.2m	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV284.2m	AUM4.4b	#Funds4
Adviser TISHMAN CAPITAL PARTNERS	Hedge Fund343.9m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund271.4m	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV615.4m	AUM971.9m	#Funds7
Adviser ABR CAPITAL PARTNERS, LLC	Hedge Fund26.8m	Liquidity Fund-	Private Equity Fund50.0m	Real Estate Fund935.4m	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.0b	AUM397.9m	#Funds25
Adviser BLACKSTONE PROPERTY ADVISORS L.P.	Hedge Fund36.0b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund19.9b	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV55.9b	AUM73.6b	#Funds79
Adviser PAGAYA INVESTMENTS US LLC	Hedge Fund1.5b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund217.2m	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.7b	AUM1.7b	#Funds15
Adviser GEM REALTY CAPITAL	Hedge Fund1.0b	Liquidity Fund-	Private Equity Fund2.0b	Real Estate Fund3.5b	Securitized Asset Fund-	Venture Capital Fund30.0m	Other Fund-	Total Private Fund GAV6.6b	AUM6.2b	#Funds18
Adviser CLARION PARTNERS	Hedge Fund7.5b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund19.9b	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV27.4b	AUM73.4b	#Funds40
Adviser VISION BRAZIL INVESTMENTS	Hedge Fund13.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund134.2m	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV147.2m	AUM-	#Funds13
Adviser PROPRIUM CAPITAL PARTNERS, L.P.	Hedge Fund1.3b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund1.6b	Securitized Asset Fund-	Venture Capital Fund-	Other Fund83.7m	Total Private Fund GAV2.9b	AUM3.5b	#Funds11
Adviser TCI FUND MANAGEMENT LIMITED	Hedge Fund63.1b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund7.4b	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV70.6b	AUM-	#Funds12

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 public and private real estate and real estate related debt Investments and, to a lesser extent, non-controlling equity and other Investments in real estate.
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.
As of December 31, 2023, the Adviser had regulatory assets under management of approximately $68.5 billion on a discretionary basis. Please note that this figure is an unaudited estimate. 12 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. The Adviser also provides specific portfolio management services to certain Investment Vehicles managed by an affiliated alternative investment fund manager for the purposes of AIFMD, through a series of delegation agreements.

BLACKSTONE REAL ESTATE SPECIAL SITUATIONS ADVISORS L.L.C.

Related Companies

Adviser Profile

Details

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Private Funds Structure

Similar advisers

Brochure Summary

Overview