Filled in full: 6 of 6 · demand stayed within the cap every window
Q2-241.0× capQ3-25
Q3-25 · 0.02× requested ÷ capacity · within cap · 100% honored · click a window to replay it below
Request calculatorif you had asked in Q3-25 · drag, or pick a window above
you request$174,000
$10k$1M
$174,000returned in full — requests were honoredamount × filed proration factor 1.00 · SC TO-I/A · arithmetic on filed results, not advice
No distributions on record
Strategy mix
Direct · 34
Debt & other securities · 22
Fund interests · 9
mixed percent bases in this cohort — totals not computed
Exposure grain65 filed rows · 3 kinds · 18 sectors · 8 geographies · as of 12/31/25
Exposure
Kind
Sector
Geography
Fair value
%
Other Investments in Equity (Software, Americas)
Portfolio company
Software
Americas
$1.20B
9.8%
Other Investment(s) in Equity (Media & Entertainment, EMEA)
Portfolio company
Media & Entertainment
EMEA
$1.06B
8.6%
Other Investments in Equity (Consumer, Americas)
Portfolio company
Consumer
Americas
$1.04B
8.5%
Other Investments in Equity (Financial Services, Americas)
Portfolio company
Financial Services
Americas
$903M
7.3%
Air Control Concepts Holdings, L.P.
Portfolio company
Industrials
Americas
$695M
5.6%
Other Investments in Equity (Business Services, Americas)
Portfolio company
Business Services
Modules shown reflect what this fund discloses — questions that don't apply to this vehicle type are omitted.
How levered?
The balance sheet the latest filing stated and the NAV / subscription credit facility an evergreen vehicle runs against its portfolio — these funds carry no traded-debt balance sheet, so the line is the leverage.
How deployed?
Commitment pacing — how much capital is committed to underlying funds and deals, how much is called versus still callable, and commitment as a multiple of NAV. The deployment story an evergreen fund reports in place of a draw-down LP IRR.
How concentrated?
Exposure concentration — sector and geographic mix with a Herfindahl over each, and how much of the book is named at the issuer level versus rolled into sized-but-unnamed buckets.
How risky?
Valuation opacity — how much of the book is marked to model (Level III) or carried at an underlying fund NAV, and the net unrealized mark behind the reported value.
Valuation transparency · as disclosed · 03/31/26
Hard-to-value
86.1%Level III + NAV expedient
Level III
79.1%mark-to-model
NAV expedient
7.0%fund-of-funds NAV
86.1% of investments are marked to model (Level III) or carried at the NAV of an underlying fund — the higher this share, the more the reported NAV depends on unobservable inputs rather than market prices. The full L1 / L2 / L3 ladder and the disclosed WACC / exit-multiple inputs render in The Book · Marks; balance-sheet leverage under How levered?. Concentration of those marks by sector and geography is in How concentrated?.
How is it valued?
The mark and the inputs behind it — the Level I / II / III fair-value hierarchy and the unobservable inputs render in The Book · Marks.
What does it cost?
The management + incentive structure and the per-class servicing / distribution load behind the headline rate.
How does it perform?
NAV-based total return by share class and the per-class NAV trajectory — what an evergreen, NAV-struck fund actually reports (not a draw-down LP multiple).
How liquid?
Exit terms — repurchase policy and the window-by-window tender record.
TodayRepurchase policy, window-by-window tender history and offering progress render in Liquidity.
Next laneA forward-funding obligation applies only to credit funds with unfunded loan commitments; this fund discloses none.
exit terms are fully surfaced in the Liquidity act.
5 of 8disclosure families disclosed by this fund
fund silence and AltHarbor coverage are different facts — both stated per family
Distribution composition — not in the filings AltHarbor has read. The silence is the fund’s, stated here once rather than repeated on every pane.
Americas
$679M
5.5%
Other Investments in Equity (Technology & Services, Americas)
Portfolio company
Technology & Services
Americas
$627M
5.1%
Other Investments in Equity (Healthcare, Americas)
Portfolio company
Healthcare
Americas
$615M
5.0%
Other Investments in Equity (Industrials, Americas)
Portfolio company
Industrials
Americas
$428M
3.5%
Other Investments in Equity (Energy, Americas)
Portfolio company
Energy
Americas
$419M
3.4%
Other Investments in Debt (Technology & Services, Americas)
Credit
Technology & Services
Americas
$405M
3.3%
Other Investments in Debt (Consumer, EMEA)
Credit
Consumer
EMEA
$342M
2.8%
Other Investments in Equity (Infrastructure, APAC)
Portfolio company
Infrastructure
APAC
$321M
2.6%
Other Investments in Debt (Industrials, Americas)
Credit
Industrials
Americas
$279M
2.3%
Other Investments in Equity (Software, EMEA)
Portfolio company
Software
EMEA
$265M
2.2%
top 15 of 65 disclosed exposures shown
7 of 65 rows are manager-published, not from a SEC filing
10 newer manager-published names published since 2025-12-31 carry no percent or fair value and are not shown — the measured composition above is as of 2025-12-31
Changes · recent
21 on record
◇low severity04/22/26Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $21.4B and April 1, 2026 unregistered unit sales: BXPE U.S. $412.7M; Feeder $113.5M; Fund Program issued $654.8M.
◇low severity03/26/26Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $20.3B and March 1, 2026 unregistered unit sales: BXPE U.S. $594.5M; Feeder $158.1M; Fund Program issued $983.5M.
◇low severity02/26/26Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $19.2B and February 1, 2026 unregistered unit sales: BXPE U.S. $388.2M; Feeder $115.3M; Fund Program issued $831.9M.
◆0 ◈3 ◇18severity: AltHarbor classification21 on record
◇low severity03/26/26Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $20.3B and March 1, 2026 unregistered unit sales: BXPE U.S. $594.5M; Feeder $158.1M; Fund Program issued $983.5M.
◇low severity02/26/26Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $19.2B and February 1, 2026 unregistered unit sales: BXPE U.S. $388.2M; Feeder $115.3M; Fund Program issued $831.9M.
◇low severity01/28/26Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $12.4B and January 2, 2026 unregistered unit sales: BXPE U.S. $364.2M; Feeder $123.8M; Fund Program issued $645.2M.
◇low severity01/16/26Form D/A reported an indefinite offering with first sale on January 2, 2024; total amount sold was $8.515B including BXPE U.S. and the TE feeder, with 22,582 investors and a $0 stated minimum investment.
◈medium severity01/01/26Existing Class I Units were redesignated as Class I-Series I, with Class I-Series II and III created; management fees became 1.25%, 1.05%, and 0.95% by series.
◈medium severity01/01/26The Investment Management Agreement was amended and restated to reflect Class I-Series I, II, and III and the corresponding management fee schedule.
Earlier events14 more · through 01/29/25
◇low severity01/01/26Viral Patel was appointed as a director while continuing as chief executive officer; David Blitzer retired from the board and the investment committee.
◇low severity12/29/25Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $17.1B and December 1, 2025 unregistered unit sales: BXPE U.S. $353.7M; Feeder $140.0M; Fund Program issued $689.6M.
◇low severity11/26/25Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $16.0B and November 1, 2025 unregistered unit sales: BXPE U.S. $407.5M; Feeder $171.2M; Fund Program issued $737.8M.
◇low severity10/22/25Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $15.0B and October 1, 2025 unregistered unit sales: BXPE U.S. $421.5M; Feeder $171.7M; Fund Program issued $773.6M.
◈medium severity10/01/25Amendments to the BXPE U.S. and TE feeder limited partnership agreements memorialized the existing Unit Redemption Plan; the 8-K states the plan terms were unchanged and the active redemption window opened October 1, 2025 and was scheduled to close October 31, 2025 unless extended.
◇low severity09/29/25Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $14.2B and September 1, 2025 unregistered unit sales: BXPE U.S. $422.8M; Feeder $130.5M; Fund Program issued $740.0M.
55 filings
◇low severity08/28/25Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $13.2B and August 1, 2025 unregistered unit sales: BXPE U.S. $399.3M; Feeder $168.1M; Fund Program issued $722.0M.
◇low severity07/23/25Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $12.5B and July 1, 2025 unregistered unit sales: BXPE U.S. $296.9M; Feeder $98.0M; Fund Program issued $624.2M.
◇low severity06/27/25Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $11.7B and June 1, 2025 unregistered unit sales: BXPE U.S. $313.3M; Feeder $93.2M; Fund Program issued $585.6M.
◇low severity05/29/25Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $11.1B and May 1, 2025 unregistered unit sales: Fund $216.7M; Fund Program issued $403.7M.
◇low severity04/29/25Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $10.2B and April 1, 2025 unregistered unit sales: Fund $394.9M; Fund Program issued $702.6M.
◇low severity03/28/25Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $9.3B and March 1, 2025 unregistered unit sales: Fund $375.0M; Fund Program issued $768.2M.
◇low severity02/27/25Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $8.5B and February 1, 2025 unregistered unit sales: Fund $277.2M; Fund Program issued $651.6M.
◇low severity01/29/25Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $7.3B and January 2, 2025 unregistered unit sales: Fund $337.6M; Fund Program issued $1.1B.
55filings on record · 2022–2026latest filed 05/13/26
every filing on record · one tick per filing · hue = type, height = rarity
Stated fees · mgmt solid · servicing hatch · distribution hollow · bars share a scale · click a class to read the act through it
Cls
Net assets
% fund
Stated fee
Min initial
Channel
Imixed
$6.29B
63.5%
Class I stated fees: management 1.3 percent1.25%
Institutional / fee-only / private wealth
Class I-Series I Units are the no-servicing-fee class used by institutional, fee-only, and eligible private-wealth channels. The 2025 10-K states existing Class I Units were redesignated Class I-Series I effective January 1, 2026. · since 01/02/24 · 200,427,213 sh.
Sretail
$3.48B
35.2%
Class S stated fees: management 1.3 percent, servicing 0.8 percent2.10%
Brokerage / transaction-based accounts
Class S Units are the retail brokerage and transaction-account class at the BXPE U.S. Main Fund. The 2025 10-K states Class S bears a 0.85% annual servicing fee. · since 02/01/24 · 118,749,957 sh.
Dretail
$106M
1.1%
Class D stated fees: management 1.3 percent, servicing 0.3 percent1.50%
Fee-based intermediary / RIA
Class D Units are a fee-based intermediary class for investors using advisory, fiduciary, bank-trust, or similar brokerage-platform channels. The 2025 10-K states Class D bears a 0.25% annual servicing fee and is one of the four BXPE U.S. Main Fund classes. · since 02/01/24 · 3,761,102 sh.
Ninstitutional
$17.7M
0.2%
Class N stated fees: management 1.3 percent, servicing 0.5 percent1.75%
Institutional non-retail
Class N Units are the institutional non-retail class at the BXPE U.S. Main Fund. The 2025 10-K states Class N bears a 0.50% annual servicing fee and was first sold on July 1, 2025. · since 07/01/25 · 684,206 sh.
Incentive fee
12.5% over a 5.0% hurdle · hard hurdle with catch-up · fund level
Management-fee base
Nav
Administration fee
0.1%
Expense ratio after waivers
not yet covered by AltHarbor
Net asset value composition · as disclosed
A per-share NAV composition is the monthly disclosure of NAV-struck perpetual REITs; this fund’s valuation — the Level I / II / III fair-value hierarchy and the unobservable inputs behind the marks — renders in The Book · Marks
Cap: 3.0% sh. out./qtr (all windows) · All 6 windows filled in full
Window
Req ÷ cap
Requested
Accepted
Price
Q3-25
0.02×
148.0K sh
148.0K sh
$32.11
Q2-25
0.04×
260.7K sh
260.7K sh
$31.33
Q1-25
0.03×
133.2K sh
133.2K sh
$29.56
Q4-24
0.00×
19.9K sh
19.9K sh
$28.34
Q3-24
0.02×
73.4K sh
73.4K sh
$27.24
Q2-24
0.00×
0 sh
0 sh
Not disclosed
requested basis: shares tendered · rows expand (tap or e)
Commitment pacing · as disclosed · 12/31/25
1 of 4 disclosed
Unfunded
$1.20Bstill callable · 12/31/25
Per-class total return · NAV-based · as of 03/31/26
Class
YTD
1Y
SI
I
5.8%
20.0%
17.9%
S
5.6%
19.0%
16.9%
D
5.7%
19.7%
17.6%
N
5.7%
—
—
Each cell is the latest disclosed return for that window — windows are filed on different cadences, so hover any figure for its own as-of date. Returns are NAV-based total returns net of fund expenses, as the manager states them.
Raw NAV per unit as disclosed each period.
YTD return by class · by quarter9 quarters · manager YTD
Quarter
I
S
D
N
03/31/26
5.8%
5.6%
5.7%
5.7%
12/31/25
20.0%
19.0%
19.7%
8.1%
09/30/25
13.3%
13.2%
13.2%
−1.7%
06/30/25
10.6%
10.5%
10.5%
03/31/25
4.2%
4.2%
4.2%
12/31/24
13.4%
6.1%
11.2%
09/30/24
8.9%
1.8%
6.7%
06/30/24
4.8%
2.2%
2.7%
Not shown: IRR, MOIC, TVPI, DPI and PME. These are draw-down LP metrics; this is an evergreen, NAV-struck fund that reports a NAV-based total return, so an LP cash-flow multiple would misrepresent the vehicle — it is omitted by design, not missing.
Filing record45 filings on record · since 2022 · current period 03/31/26
1'228'2424'2512'26
Filed
Filing
Period / note
05/13/26
Quarterly report
03/31/26
05/09/26
manager-direct
03/31/26
05/09/26
manager-direct
03/31/26
05/05/26
manager-direct
03/31/26
04/23/26
Current report
04/22/26
03/26/26
Current report
Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $20.3B and March 1, 2026 unregistered unit sales: BXPE U.S. $594.5M; Feeder $158.1M; Fund Program issued $983.5M.
03/13/26
Annual report
12/31/25
03/13/26
Annual report
12/31/25
03/31/24
1.7%
5.1%
0.3%
02/27/26
Current report
02/26/26
01/29/26
Current report
01/28/26
01/16/26
Amended private placement notice
Form D/A reported an indefinite offering with first sale on January 2, 2024; total amount sold was $8.515B including BXPE U.S. and the TE feeder, with 22,582 investors and a $0 stated minimum investment.
01/02/26
Current report
01/01/26
12/29/25
Current report
Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $17.1B and December 1, 2025 unregistered unit sales: BXPE U.S. $353.7M; Feeder $140.0M; Fund Program issued $689.6M.
11/26/25
Current report
Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $16.0B and November 1, 2025 unregistered unit sales: BXPE U.S. $407.5M; Feeder $171.2M; Fund Program issued $737.8M.
11/12/25
Quarterly report
09/30/25
10/24/25
Amended tender offer
10/23/25
Current report
10/22/25
10/01/25
Current report
Amendments to the BXPE U.S. and TE feeder limited partnership agreements memorialized the existing Unit Redemption Plan; the 8-K states the plan terms were unchanged and the active redemption window opened October 1, 2025 and was scheduled to close October 31, 2025 unless extended.
09/29/25
Current report
Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $14.2B and September 1, 2025 unregistered unit sales: BXPE U.S. $422.8M; Feeder $130.5M; Fund Program issued $740.0M.
08/28/25
Current report
Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $13.2B and August 1, 2025 unregistered unit sales: BXPE U.S. $399.3M; Feeder $168.1M; Fund Program issued $722.0M.
08/13/25
Quarterly report
06/30/25
07/25/25
Amended tender offer
07/24/25
Current report
07/23/25
07/01/25
Tender offer filing
06/30/25
Current report
06/27/25
05/29/25
Current report
Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $11.1B and May 1, 2025 unregistered unit sales: Fund $216.7M; Fund Program issued $403.7M.
05/14/25
Quarterly report
03/31/25
05/06/25
Amended tender offer
04/29/25
Current report
Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $10.2B and April 1, 2025 unregistered unit sales: Fund $394.9M; Fund Program issued $702.6M.
04/01/25
Tender offer filing
03/28/25
Current report
Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $9.3B and March 1, 2025 unregistered unit sales: Fund $375.0M; Fund Program issued $768.2M.
03/14/25
Annual report
12/31/24
02/28/25
Current report
02/27/25
02/04/25
Amended tender offer
01/29/25
Current report
Monthly 8-K disclosed BXPE Fund Program Transactional NAV of approximately $7.3B and January 2, 2025 unregistered unit sales: Fund $337.6M; Fund Program issued $1.1B.
01/02/25
Tender offer filing
11/13/24
Quarterly report
09/30/24
11/01/24
Amended tender offer
10/01/24
Tender offer filing
08/13/24
Quarterly report
06/30/24
08/05/24
Amended tender offer
07/01/24
Tender offer filing
05/14/24
Quarterly report
03/31/24
04/01/24
Tender offer filing
05/20/22
Registration statement
68 names
Where it sits
min–median–max · this fund = dot
L3 + NAV-expedient share86.1%% of fair value · 03/31/26private equity peers n=19 · 66.6%–91.7%–100.0%this fund 86.1% against private equity peers (n=19): minimum 66.6%, median 91.7%, maximum 100.0%
Fair value marks · as of 03/31/26
86.1%% of fair value · 03/31/26
$13.4B · 86.1%L3 + NAVexpof investments at fair value · sum of stated
ASC-820 hierarchy · band width = share · hover to read
L3 + NAVexp share, 9 periodsLevel 3 plus NAV-expedient share of investments by period: 2024-03-31 47.11, 2024-06-30 56.39, 2024-09-30 83.92, 2024-12-31 85.98, 2025-03-31 89.25, 2025-06-30 90.09, 2025-09-30 86.72, 2025-12-31 88.31, 2026-03-31 86.1147.1% → 86.1%Private Equity peers n=20 · 66.6%–91.5%–100.0%this fund 86.1% against Private Equity peers (n=20): minimum 66.6%, median 91.5%, maximum 100.0%
Valuation technique
Valuation methodAggregator FVH table with cash equivalents, investments, affiliated investee funds measured at NAV, and derivative assets
Unobservable-input ranges: not disclosed in latest annual filing
Level 3 roll-forward · 03/31/26
Category
Ending
Activity
Coverage
Level 3 Investments
$12.3B
Ending balance only
Ending Balance Only
NAV practical expedient · 1 observation · $15.5B fair value · 03/31/26
Fee anatomy · as disclosed
3 of 3 disclosed
Management fee
1.3%annual · on nav
Incentive fee
12.5%Hard hurdle with catch-up hurdle · 5.0% hurdle
Administration fee
0.1%annual
Per-class load6 classes · servicing · distribution · total ex-incentive
Class
Channel
Servicing
Distribution
Total ex-incentive
D
Fee-based intermediary / RIA
0.3%
—
1.6%
I
Institutional / fee-only / private wealth; redesignated Class I-Series I effective 2026-01-01
0.0%
—
1.4%
I
Large accredited investor / qualified purchaser series; $50 million minimum initial investment
0.0%
—
1.1%
I
Large accredited investor / qualified purchaser series; $250 million minimum initial investment
0.0%
—
1.1%
N
Institutional non-retail
0.5%
—
1.9%
S
Brokerage / transaction-based accounts
0.8%
—
2.2%
The two-part incentive-fee mechanics (lookback / per-class expense caps & recapture) are not yet surfaced — they need a dedicated terms table still in the schema queue.
The named book · 68 companies
full register →per filed schedule / annual report · as of 12/31/25
largest first · filed company register
+ 60 aggregated bucket rows ($11.8B) — roll-ups the filer didn't name; composition reads in the strategy mix in The Book
per-company % as filed — the percent basis varies by filer; fair value is the comparable figure
Exposure concentration · as disclosed · 03/31/26
Sector HHI
904diversified
Geography HHI
5,098concentrated
Sector mix
12.0%Consumer
100%-stacked share of disclosed allocation · sweep to read
Σ 98.0% disclosed · as of 03/31/26 · 5 more beyond top 8 at 22.0% · segments share of disclosed total
Geographic mix
68.0%Americas
100%-stacked share of disclosed allocation · sweep to read
Σ 99.0% disclosed · as of 03/31/26 · segments share of disclosed total
Strategy mix renders in The Book · Portfolio; the named company register in The Names.