# Blackstone Real Estate Advisors L.P.

> Blackstone Real Estate Advisors L.P. 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 September 8, 2026.

- CRD: 142979
- Filed as: BLACKSTONE REAL ESTATE 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/142979
- AdvisorCensus page: https://advisorcensus.com/firm/blackstone-real-estate-advisors-l-p-new-york-ny-142979

## Quick answers

**How is Blackstone Real Estate Advisors L.P. compensated?**
On its Form ADV (Item 5.E, October 2026), Blackstone Real Estate Advisors L.P. reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**Where is Blackstone Real Estate Advisors L.P. located?**
Blackstone Real Estate 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 Real Estate Advisors L.P. registered with the SEC or a state?**
Blackstone Real Estate Advisors L.P. is an SEC-registered investment advisory firm, registered since 2007. Status as filed: Approved. CRD 142979.

**How much does Blackstone Real Estate Advisors L.P. manage?**
Blackstone Real Estate Advisors L.P. reports $130,739,014,562 in regulatory assets under management in its Form ADV filing dated September 8, 2026 (100% discretionary).

**How have Blackstone Real Estate Advisors L.P.'s assets and staff changed since 2021?**
In the Form ADV data for Blackstone Real Estate Advisors L.P.: Regulatory assets under management: $92,221,250,962 in the October 2021 data and $130,739,014,562 in the October 2026 data, up 42%. Total employees: 567 in October 2021 and 547 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Blackstone Real Estate 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) (72).

**Does Blackstone Real Estate Advisors L.P. report any disciplinary disclosures?**
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/142979

**What changed in Blackstone Real Estate 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: $130,739,014,562
- Discretionary: $130,739,014,562
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 72 | $130,739,014,562 |
| State or municipal government entities (including government pension plans) | Fewer than 5 | 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: 2007 (19 years)
- Employees: 547 total, 363 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA
- Disclosures (Item 11): Reports 3 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.C(2): 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?
- 11.C(4): Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.C(5): 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?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/142979

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

### 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 | $92,221,250,962 | 567 | March 31, 2021 |
| October 2022 | $113,389,928,471 | 628 | March 31, 2022 |
| October 2023 | $127,794,737,441 | 708 | September 8, 2023 |
| October 2024 | $129,662,849,514 | 670 | March 28, 2024 |
| October 2025 | $134,591,647,385 | 621 | March 28, 2025 |
| October 2026 | $130,739,014,562 | 547 | September 8, 2026 |

Regulatory assets under management: $92,221,250,962 in the October 2021 data and $130,739,014,562 in the October 2026 data, up 42%.
Total employees: 567 in October 2021 and 547 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 404 to 363.
- 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 Real Estate Advisors L.P. (CRD 142979): Form ADV filing data as of October 2026.