Filed pursuant to Rule 424(b)(3)
Registration No. 333-219127
BLACKSTONE FLOATING RATE ENHANCED INCOME FUND
Supplement No. 2, dated July 27, 2022, to the
Prospectus (the “Prospectus”) and the Statement of Additional Information (the “SAI”),
dated January 27, 2022,
for Common Shares of Beneficial Interest
Retirement of Trustee and Appointment as Trustee Emeritus
Effective May 25, 2022, Michael F. Holland retired as a Trustee of the Board of Trustees (the “Board”). The Board then appointed Mr. Holland as a Trustee Emeritus to the Board, effective May 25, 2022.
SAI
The information regarding Mr. Holland contained in the table under “Board of Trustees” on page 21 of the SAI is moved to a new “Trustee Emeritus” section of the table, after the “Interested Trustee” section of the table, and is updated as follows:
| | | | | | | | | | |
Name and
Year of Birth | | Position(s)
Held With
Registrant | | Term of
Office
and Length of
Time Served | | Principal Occupation(s)
During Past Five Years | | Number of
Portfolios
in Fund
Complex
Overseen
by the
Trustee(1) | | Other
Directorships Held
by the
Trustee During
Past Five Years |
| TRUSTEE EMERITUS: | | | | | | | | | | |
Michael F. Holland(4) Birth Year: 1944 | | Trustee Emeritus | | Trustee from September 2017 to May 2022 | | Mr. Holland is the Chairman of Holland & Company, a private investment firm he founded in 1995. | | N/A | | State Street Master Funds; Reaves Utility Income Fund; The China Fund, Inc. (until 2019); The Taiwan Fund (until 2017) |
| (4) | Mr. Holland retired as a Trustee effective May 25, 2022 and was appointed as a Trustee Emeritus effective May 25, 2022. |
The description of Mr. Holland’s experience in the third sentence under “Experience of Trustees” on page 22 of the SAI is moved to become the fourth sentence of such paragraph, and is updated as follows:
As a Trustee Emeritus, Mr. Holland brings experience as an investment professional, experience as a former Trustee of the Fund, and service as a board member of other registered management investment companies.
The information regarding Mr. Holland contained in the table under “Share Ownership” on page 23 of the SAI is moved to a new “Trustee Emeritus” section of the table, after the “Interested Trustees” section of the table, and the following information is added as a footnote after Mr. Holland’s name:
(FN) Mr. Holland retired as a Trustee effective May 25, 2022 and was appointed as a Trustee Emeritus effective May 25, 2022.
The information regarding Mr. Holland contained in the table under “Compensation of Trustees” on page 24 of the SAI is moved to a new “Trustee Emeritus” section of the table, after the “Interested Trustees” section of the table, and the following information is added as a footnote after Mr. Holland’s name:
(FN) Mr. Holland retired as a Trustee effective May 25, 2022 and was appointed as a Trustee Emeritus effective May 25, 2022.
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