# Blackstone Property Advisors L.P.

> Blackstone Property Advisors L.P. is an SEC-registered investment advisory firm in New York, NY, registered since 2015, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated September 8, 2026.

- CRD: 226598
- Filed as: BLACKSTONE PROPERTY ADVISORS L.P.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: September 8, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/226598
- AdvisorCensus page: https://advisorcensus.com/firm/blackstone-property-advisors-l-p-new-york-ny-226598

## Quick answers

**How is Blackstone Property Advisors L.P. compensated?**
On its Form ADV (Item 5.E, October 2026), Blackstone Property Advisors L.P. reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Blackstone Property Advisors L.P. located?**
Blackstone Property Advisors L.P.'s principal office is in New York, NY, according to its Form ADV; the October 2026 filing also lists 14 other offices (Schedule D, Section 1.F).

**Is Blackstone Property Advisors L.P. registered with the SEC or a state?**
Blackstone Property Advisors L.P. is an SEC-registered investment advisory firm, registered since 2015. Status as filed: Approved. CRD 226598.

**How much does Blackstone Property Advisors L.P. manage?**
Blackstone Property Advisors L.P. reports $77,395,567,830 in regulatory assets under management in its Form ADV filing dated September 8, 2026 (75% discretionary).

**How have Blackstone Property Advisors L.P.'s assets and staff changed since 2021?**
In the Form ADV data for Blackstone Property Advisors L.P.: Regulatory assets under management: $47,664,762,694 in the October 2021 data and $77,395,567,830 in the October 2026 data, up 62%. Total employees: 544 in October 2021 and 575 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Blackstone Property Advisors L.P. serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (89); insurance companies (27).

**Does Blackstone Property Advisors L.P. report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/226598

**What changed in Blackstone Property Advisors L.P.'s recent Form ADV filings?**
In the October 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $77,395,567,830
- Discretionary: $57,710,125,793
- Non-discretionary: $19,685,442,037

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 89 | $77,057,700,320 |
| State or municipal government entities (including government pension plans) | Fewer than 5 | $337,867,510 |
| Insurance companies | 27 | Not reported |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2015 (11 years)
- Employees: 575 total, 391 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the October 2026 filing
- Hong Kong
- London
- Miami, FL
- Milano
- Mumbai
- Paris
- San Francisco, CA
- Santa Monica, CA
- Seoul
- Shanghai
- Singapore
- Sydney
- Tokyo
- Toronto

### Websites listed on Form ADV (Item 1.I)
- apple.co/31Pe1Gg
- blackstone.com
- blackstone.podbean.com
- mp.weixin.qq.com/s/FtddoP2F9zDZ1QFBgOQAAA
- open.spotify.com/artist/52Eom8vQxM8Lk75ZZlf2hJ
- pandora.com/artist/blackstone/ARvlPz9Plblrlmg
- soundcloud.com/BLACKSTONE-300250613
- spoti.fi/2LJ1tHG
- Facebook @blackstone
- Instagram @blackstone
- LinkedIn @blackstonegroup
- X @blackstone
- YouTube @blackstonegroup

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $47,664,762,694 | 544 | March 31, 2021 |
| October 2022 | $69,308,634,169 | 633 | March 31, 2022 |
| October 2023 | $84,939,336,736 | 708 | September 8, 2023 |
| October 2024 | $78,191,515,677 | 670 | March 28, 2024 |
| October 2025 | $73,620,371,498 | 651 | July 31, 2025 |
| October 2026 | $77,395,567,830 | 575 | September 8, 2026 |

Regulatory assets under management: $47,664,762,694 in the October 2021 data and $77,395,567,830 in the October 2026 data, up 62%.
Total employees: 544 in October 2021 and 575 in October 2026.

## Changes in the filing (last 12 months)

### October 2026
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Employees performing advisory functions went from 434 to 391.
- Added an office in Paris.

### February 2026
- Updated its list of owners and control persons (Schedule A).

### November 2025
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Blackstone Property Advisors L.P. (CRD 226598): Form ADV filing data as of October 2026.