9AT: BLACKSTONE ALTERNATIVE SOLUTIONS L.L.C.

other names

Adviser Profile

As of Date	03/28/2024
Adviser Type - Large advisory firm
Number of Employees	290 -15.20%
of those in investment advisory functions	98 -16.95%
Registration	SEC, Approved, 09/19/2011

AUM^*	16,775,854,974 1.27%
of that, discretionary	16,775,854,974 1.27%
Private Fund GAV^*	13,394,597,877 -56.80%
Avg Account Size	453,401,486 -4.21%
SMA’s	No
Private Funds	28 2
Contact Info	212 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles
- Selection of other advisers

Compensation Arrangments

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

Fund Type	Count	GAV
Fund TypeHedge Fund	Count28	GAV$13,394,597,877

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 DAVENPORT & COMPANY LLC	Hedge Fund658.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV658.2m	AUM19.3b	#Funds3
Adviser UNIVERSA INVESTMENTS L.P.	Hedge Fund22.0b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV22.0b	AUM16.2b	#Funds37
Adviser WOODLINE PARTNERS LP	Hedge Fund15.0b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV15.0b	AUM15.0b	#Funds2
Adviser DRA ADVISORS LLC	Hedge Fund15.5b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV15.5b	AUM15.5b	#Funds15
Adviser LONE PINE CAPITAL LLC	Hedge Fund23.1b	Liquidity Fund-	Private Equity Fund144.6m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV23.2b	AUM17.5b	#Funds11
Adviser PERSHING SQUARE CAPITAL MANAGEMENT, L.P.	Hedge Fund19.0b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV19.0b	AUM18.6b	#Funds5
Adviser JACOBS LEVY EQUITY MANAGEMENT	Hedge Fund3.0b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV3.0b	AUM22.9b	#Funds4
Adviser ADRIAN LEE & PARTNERS	Hedge Fund10.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV10.0m	AUM17.4b	#Funds1
Adviser RAYMOND JAMES INVESTMENT MANAGEMENT	Hedge Fund328.7m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV328.7m	AUM15.6b	#Funds3
Adviser FRED ALGER MANAGEMENT, LLC	Hedge Fund57.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV57.0m	AUM17.6b	#Funds2

Brochure Summary

Overview

Overview of the Firm BAS, a Delaware limited liability company, primarily provides investment advisory services to private investment funds (collectively, the “BAS Funds”) that predominantly invest and trade in a wide variety of securities, assets and instruments (including, without limitation, equity securities, equity-related instruments, debt, debt-related instruments, hard assets, currencies, commodities, futures contracts, options and other derivative instruments). Certain BAS Funds invest a portion of their assets in Underlying Investment Vehicles including those managed by Other Blackstone Advisers and Blackstone Interest Managers. BAS is an affiliate of Blackstone Alternative Asset Management L.P. (“BAAM”), a leading multi-asset investing provider.. BAS derives significant benefits from the experience of BAAM in the investment, operational, legal, structuring and compliance aspects of hedge funds. BAS was founded in 2011 as part of Blackstone Inc. (NYSE: BX) (“Blackstone”), which is the ultimate parent of BAS and BAAM. Blackstone is a leading alternative investment manager with investment programs and services concentrating in the private equity, real estate, debt / credit and secondaries business, as well as the multi-asset investing business. BAS shares employees and facilities with BAAM, Blackstone Strategic Alliance Advisors L.L.C. (“BSAA”), and Blackstone Alternative Investment Advisors L.L.C. (“BAIA”), each a registered investment adviser, and together with BAS, Blackstone Multi-Asset Investing (“BXMA”). Please see Item 10 – Other Financial Industry Activities and Affiliations

href="158784_313352_7_20240328.html#24"> for more information. BAS’s assets under management (“AUM”) were $12 billion as of December 31, 2023. This includes committed capital that has not been drawn for any purpose. This also includes investments made by BAAM Clients into BAS Funds. Please note that this is an unaudited estimate. Overview of Advisory Services As investment adviser to the BAS Funds, BAS:  Identifies and implements investment opportunities for BAS Funds;  Participates in the monitoring of BAS Funds’ investments;  Makes decisions on behalf of BAS Funds to purchase and/or sell investments;  Engages Underlying Managers on behalf of BAS Funds;  Engages in hedging transactions for the BAS Funds; and  Employs leverage for BAS Funds in various forms (including via credit facilities, derivative transactions, margin transactions and other credit arrangements): (a) when BAS believes that the use of leverage may enable the BAS Funds to achieve a higher rate of return, (b) to meet redemptions that would otherwise result in the premature liquidation of investments, and/or (c) to finance Investments or other costs and expenses in anticipation of the receipt of equity capital from investors and/or realization proceeds from Investments. The use of leverage increases the risk of loss. Blackstone Alternative Solutions L.L.C. Blackstone | 5 Investors in BAS Funds (“Investors”) are not deemed to be BAS clients but are entitled to the rights and benefits described in the applicable Client Constituent Documents. BAS typically engages third party service providers, including custodians, administrators and/or auditors, on behalf of the BAS Funds. Blackstone Alternative Solutions L.L.C. Blackstone | 6

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BLACKSTONE ALTERNATIVE SOLUTIONS L.L.C.

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