Act IPulse
Filled in full: 6 of 6 · demand stayed within the cap every window
Q3-25 · 0.02× requested ÷ capacity · within cap · 100% honored · click a window to replay it below
Strategy mix
| Direct · 34 |
| Debt & other securities · 22 |
| Fund interests · 9 |
mixed percent bases in this cohort — totals not computed
| 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.
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.
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.
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.
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.
Hard-to-value
86.1%Level III + NAV expedientLevel III
79.1%mark-to-modelNAV expedient
7.0%fund-of-funds NAV86.1% 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?.
The mark and the inputs behind it — the Level I / II / III fair-value hierarchy and the unobservable inputs render in The Book · Marks.
The management + incentive structure and the per-class servicing / distribution load behind the headline rate.
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).
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.
fund silence and AltHarbor coverage are different facts — both stated per family
| Disclosure family | Status | Latest source | |
|---|---|---|---|
| Exit mechanics → | Disclosed | Annual report · filed Mar 13 | |
| Tender record → | Disclosed | Amended tender offer · filed Oct 24 | |
| Per-class economics → | Disclosed | Annual report · filed Mar 13 | |
| Distribution composition → | Not disclosed by fund | — | |
| Fair-value hierarchy → | Disclosed | Quarterly report · filed May 13 | |
| Unobservable inputs → | Not yet covered by AltHarbor | — | |
| Credit measures → | Not yet covered by AltHarbor | — | |
| Portfolio composition → | Disclosed | manager-direct · filed May 5 |
What this fund doesn't file
| 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
No distributions on record
every filing on record · one tick per filing · hue = type, height = rarity
all 55Current report 18Imported record 10Quarterly report 7Amended tender offer 6Tender offer filing 6manager-direct 3
| Filed | Type | Accession |
|---|---|---|
| 05/13/26 · period 03/31/26 | 10-QQuarterly report | 0001930054-26-000009 ↗ |
| 11/12/25 · period 09/30/25 | 10-QQuarterly report | 0001193125-25-277478 ↗ |
| 08/13/25 · period 06/30/25 | 10-QQuarterly report | 0001193125-25-179804 ↗ |
| 05/14/25 · period 03/31/25 | 10-QQuarterly report | 0001193125-25-119825 ↗ |
| 11/13/24 · period 09/30/24 | 10-QQuarterly report | 0001193125-24-257190 ↗ |
| 08/13/24 · period 06/30/24 | 10-QQuarterly report | 0001193125-24-199768 ↗ |
| 05/14/24 · period 03/31/24 | 10-QQuarterly report | 0001193125-24-138195 ↗ |
Balance sheet not disclosed by this fund
hover or touch the chart to scrub
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
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 | |
| Sretail | $3.48B | 35.2% | Class S stated fees: management 1.3 percent, servicing 0.8 percent2.10% | Brokerage / transaction-based accounts | |
| Dretail | $106M | 1.1% | Class D stated fees: management 1.3 percent, servicing 0.3 percent1.50% | Fee-based intermediary / RIA | |
| Ninstitutional | $17.7M | 0.2% | Class N stated fees: management 1.3 percent, servicing 0.5 percent1.75% | Institutional non-retail |
Windows observed: 6 · median open-to-pricing 91d · derived from filed window dates
Committed line
$2.48Bmax facility commitment · 12/31/25Drawn
$0outstanding · 0.0% of line · 12/31/25| Facility / lender | Committed | Drawn | Rate | Commit fee | Maturity |
|---|---|---|---|---|---|
| Aggregator Credit AgreementThird-party syndicate (administrative agent + joint lead arrangers) | $2.00B | $0 | SOFR + 350bp | 0.5% | 10/01/27 |
| Bonavista Credit FacilityThird-party lenders | $375M | $0 | Term SOFR + 125bp | 0.3% | 07/27/26 |
| Blackstone Finco Affiliate LOCBlackstone Holdings Finance Co. L.L.C.affiliate | $100M | $0 | SOFR + 350bp | — | 08/14/26 |
Sector HHI
904diversifiedGeography HHI
5,098concentratedSector mix
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
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.
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)
Unfunded
$1.20Bstill callable · 12/31/25| 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 |
| 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 |
ASC-820 hierarchy · band width = share · hover to read
L1 $912M 5.9% · L2 $1.24B 8.0% · L3 $12.3B 79.1% · NAVexp $1.09B 7.0%
Unobservable-input ranges: not disclosed in latest annual filing
| 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
| 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.
| 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.
| 03/31/24 |
| 1.7% |
| 5.1% |
| 0.3% |
Management fee
1.3%annual · on navIncentive fee
12.5%Hard hurdle with catch-up hurdle · 5.0% hurdleAdministration fee
0.1%annual| 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.
+ 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