{ "crd_number": 144537, "slug": "blackstone-liquid-credit-strategies-llc-new-york-ny-144537", "primary_business_name": "BLACKSTONE LIQUID CREDIT STRATEGIES LLC", "legal_name": "BLACKSTONE LIQUID CREDIT STRATEGIES LLC", "dbas": [], "city": "New York", "state": "NY", "country": "United States", "cbsa_code": "35620", "metro": { "cbsa_code": "35620", "common_name": "New York", "msa_name": "New York-Newark-Jersey City, NY-NJ", "path": "/advisors/ny/new-york" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "2007-08-21", "years_registered": 19, "period": "2026-10-01", "filing_date": "2026-07-30", "carried_forward": false, "raum_total": 18785432798.0, "raum_discretionary": 18785432798.0, "raum_non_discretionary": 0.0, "raum_band": "over_5b", "raum_band_label": "Over $5 billion", "total_employees": 711, "advisory_employees": 408, "client_count_bucket": "fewer_than_5_in_some_types", "clients_by_type": { "charitable": { "raum": 156216527.0, "count": null, "fewer_than_5": true }, "insurance_companies": { "raum": 275333079.0, "count": null, "fewer_than_5": true }, "investment_companies": { "raum": 8664605697.0, "count": 6 }, "high_net_worth_individuals": { "raum": 1920964759.0, "count": null, "fewer_than_5": true }, "pooled_investment_vehicles": { "raum": 7768312736.0, "count": 37 } }, "compensation_types": [ "percentage_of_aum", "performance_based" ], "advisory_activities": [ "portfolio_management_businesses_institutional", "portfolio_management_investment_companies", "portfolio_management_pooled_vehicles" ], "wrap_fee_participant": false, "disclosure_yes_count": 3, "states_registered": [], "websites": [ "https://apple.co/31Pe1Gg", "https://blackstone.com", "https://blackstone.podbean.com", "https://facebook.com/blackstone", "https://instagram.com/blackstone", "https://linkedin.com/company/blackstonegroup", "https://mp.weixin.qq.com/s/FtddoP2F9zDZ1QFBgOQAAA", "https://open.spotify.com/artist/52Eom8vQxM8Lk75ZZlf2hJ", "https://pandora.com/artist/blackstone/ARvlPz9Plblrlmg", "https://soundcloud.com/blackstone-300250613", "https://spoti.fi/2LJ1tHG", "https://x.com/blackstone", "https://youtube.com/user/blackstonegroup" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/144537", "disclosure_items": [ { "item": "11.C(2)", "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?" }, { "item": "11.C(4)", "question": "Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?" }, { "item": "11.C(5)", "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?" } ], "city_as_filed": "NEW YORK", "url": "https://advisorcensus.com/firm/blackstone-liquid-credit-strategies-llc-new-york-ny-144537", "display_name": "Blackstone Liquid Credit Strategies LLC", "summary": "Blackstone Liquid Credit Strategies LLC is an SEC-registered investment advisory firm in New York, NY, registered since 2007, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated July 30, 2026.", "citation": "AdvisorCensus. Blackstone Liquid Credit Strategies LLC (CRD 144537): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "A percentage of assets under your management", "Performance-based fees" ], "advisory_activity_labels": [ "Portfolio management for investment companies (and business development companies)", "Portfolio management for pooled investment vehicles (other than investment companies)", "Portfolio management for businesses (other than small businesses) or institutional clients" ], "quick_answers": [ { "q": "How is Blackstone Liquid Credit Strategies LLC compensated?", "a": "On its Form ADV (Item 5.E, October 2026), Blackstone Liquid Credit Strategies LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees." }, { "q": "What does Blackstone Liquid Credit Strategies LLC's brochure say about its fees?", "a": "Its Form ADV Part 2A brochure dated March 30, 2026 states: Asset-based fee: up to 2% of assets a year (the maximum the brochure states). Fees can differ by service and may be negotiable; the brochure is the complete statement." }, { "q": "Where is Blackstone Liquid Credit Strategies LLC located?", "a": "Blackstone Liquid Credit Strategies LLC's principal office is in New York, NY, according to its Form ADV; the August 2026 filing also lists 5 other offices (Schedule D, Section 1.F)." }, { "q": "Is Blackstone Liquid Credit Strategies LLC registered with the SEC or a state?", "a": "Blackstone Liquid Credit Strategies LLC is an SEC-registered investment advisory firm, registered since 2007. Status as filed: Approved. CRD 144537." }, { "q": "How much does Blackstone Liquid Credit Strategies LLC manage?", "a": "Blackstone Liquid Credit Strategies LLC reports $18,785,432,798 in regulatory assets under management in its Form ADV filing dated July 30, 2026 (100% discretionary)." }, { "q": "How have Blackstone Liquid Credit Strategies LLC's assets and staff changed since 2021?", "a": "In the Form ADV data for Blackstone Liquid Credit Strategies LLC: Regulatory assets under management: $43,102,181,921 in the October 2021 data and $18,785,432,798 in the October 2026 data, down 56%. Total employees: 316 in October 2021 and 711 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does Blackstone Liquid Credit Strategies LLC serve?", "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (37); investment companies (6)." }, { "q": "Which custodians does Blackstone Liquid Credit Strategies LLC use?", "a": "Blackstone Liquid Credit Strategies LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists The Bank of New York Mellon as a custodian holding 10% or more of its separately managed account assets." }, { "q": "Does Blackstone Liquid Credit Strategies LLC report any disciplinary disclosures?", "a": "Reports 3 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/144537" }, { "q": "What changed in Blackstone Liquid Credit Strategies LLC's recent Form ADV filings?", "a": "In the August 2026 filing data: Updated its list of owners and control persons (Schedule A)." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 43102181921.0, "total_employees": 316, "filing_date": "2021-05-27" }, { "period": "2022-10-01", "regulatory_assets_under_management": 53376914971.0, "total_employees": 383, "filing_date": "2022-05-27" }, { "period": "2023-10-01", "regulatory_assets_under_management": 32962263251.0, "total_employees": 435, "filing_date": "2023-03-31" }, { "period": "2024-10-01", "regulatory_assets_under_management": 29976113947.0, "total_employees": 461, "filing_date": "2024-08-01" }, { "period": "2025-10-01", "regulatory_assets_under_management": 37263492903.0, "total_employees": 567, "filing_date": "2025-07-08" }, { "period": "2026-10-01", "regulatory_assets_under_management": 18785432798.0, "total_employees": 711, "filing_date": "2026-07-30" } ], "recent_changes": [ { "period": "2026-08-01", "period_label": "August 2026", "notes": [ "Updated its list of owners and control persons (Schedule A)." ] }, { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Employees performing advisory functions went from 325 to 408.", "Regulatory assets under management went from $37,263,492,903 to $18,785,432,798 (-50%).", "Changed its office addresses in London." ] } ], "fees_from_brochure": { "source": "Form ADV Part 2A brochure dated March 30, 2026", "tiers": [], "flat_rate": null, "stated_range": null, "stated_maximum": "2% of assets a year", "account_minimum": null, "account_minimum_may_be_waived": false, "minimum_annual_fee": null, "figures": [ { "label": "Asset-based fee", "statements": [ "Asset-based fee: up to 2% of assets a year (the maximum the brochure states)" ], "quotes": [ "For its investment advisory services provided to Clients, the Registrant or an affiliated entity will typically receive a management fee at an annual rate of up to 2% of either the net assets or invested capital" ] } ], "quotes": [ "For its investment advisory services provided to Clients, the Registrant or an affiliated entity will typically receive a management fee at an annual rate of up to 2% of either the net assets or invested capital" ], "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable." }, "custodians": [ { "name": "The Bank of New York Mellon", "name_as_filed": "THE BANK OF NEW YORK MELLON", "affiliated": false } ], "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.", "markdown_url": "https://advisorcensus.com/firm/blackstone-liquid-credit-strategies-llc-new-york-ny-144537.md", "clients": [ { "type": "high_net_worth_individuals", "label": "High net worth individuals", "count": null, "fewer_than_5": true, "raum": 1920964759.0 }, { "type": "investment_companies", "label": "Investment companies", "count": 6, "fewer_than_5": false, "raum": 8664605697.0 }, { "type": "pooled_investment_vehicles", "label": "Pooled investment vehicles (other than investment companies and business development companies)", "count": 37, "fewer_than_5": false, "raum": 7768312736.0 }, { "type": "charitable", "label": "Charitable organizations", "count": null, "fewer_than_5": true, "raum": 156216527.0 }, { "type": "insurance_companies", "label": "Insurance companies", "count": null, "fewer_than_5": true, "raum": 275333079.0 } ], "disclosure_line": "Reports 3 disclosure items on Form ADV Item 11.", "indexable": true, "suppressed": false, "claimed": false, "enhanced": false, "provided_by_the_firm": null, "source": { "name": "Form ADV", "as_of": "2026-10-01", "iapd_url": "https://adviserinfo.sec.gov/firm/summary/144537", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }