Blackstone Private Equity Strategies Fund 10-K 15 Mar 24 2023 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Feb. 29, 2024
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Entity Registrant Name	Blackstone Private Equity Strategies Fund L.P.
Entity Central Index Key	0001930054
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Incorporation, State or Country Code	DE
Entity File Number	000-56446
Entity Tax Identification Number	88-1872156
Entity Address, Address Line One	345 Park Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10154
City Area Code	212
Local Phone Number	583-5000
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Voluntary Filers	No
Entity Public Float	$ 0
ICFR Auditor Attestation Flag	false
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Firm ID	34
Auditor Location	New York
Document Financial Statement Error Correction [Flag]	false
Class S Units [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		26,004,262
Class D Units [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		1,458,005
Class I Units [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		35,687,931

Consolidated Statements of Asse

Consolidated Statements of Assets and Liabilities - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets
Cash and Cash Equivalents	$ 100	$ 100
Total Assets	100	100
Liabilities and Equity
Total Liabilities	0	0
Commitments and Contingencies
Net Assets
Total Net Assets	100	100
Total Liabilities and Net Assets	$ 100	$ 100
Net Asset Value Per Unit	$ 25	$ 25
Class S Units [Member]
Net Assets
Limited Partnership Unit	$ 0	$ 0
Class D Units [Member]
Net Assets
Limited Partnership Unit	0	0
Class I Units [Member]
Net Assets
Limited Partnership Unit	$ 100	$ 100

Consolidated Statements of As_2

Consolidated Statements of Assets and Liabilities (Parenthetical) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Class S Units [Member]
Units authorized	unlimited	unlimited
Units issued	0	0
Units outstanding	0	0
Class D Units [Member]
Units authorized	unlimited	unlimited
Units issued	0	0
Units outstanding	0	0
Class I Units [Member]
Units authorized	unlimited	unlimited
Units issued	4,000	4,000
Units outstanding	4,000	4,000

Organization

Organization	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	1. Organization Blackstone Private Equity Strategies Fund L.P. (“BXPE”) is a Delaware limited partnership formed on April 5, 2022, and is a private fund exempt from registration under Section 3(c)(7) of the Investment Company Act of 1940, as amended (the “1940 Act”). BXPE, together with its consolidated entities, was organized to invest primarily in privately negotiated, equity-oriented investments. BXPE is structured as a perpetual-life strategy, with monthly, fully funded subscriptions and periodic repurchase offers. BXPE expects to conduct a continuous private offering of its Units in reliance on exemptions from the registration requirements of the Securities Act of 1933, as amended (“Securities Act”), to investors that are both (a) accredited investors (as defined in Regulation D under the Securities Act) and (b) qualified purchasers (as defined in the 1940 Act and rules thereunder). BXPE’s investment objectives are to deliver medium-to As of December 31, 2023, BXPE had not commenced investment operations. Investment operations commenced on January 2, 2024 when BXPE sold unregistered limited partnership units. Blackstone Private Equity Strategies Associates L.P., a Delaware limited partnership, is BXPE’s general partner (the “General Partner”). Overall responsibility for oversight of BXPE rests with the General Partner, subject to certain oversight rights held by BXPE’s board of directors (the “Board of Directors”). The General Partner has delegated BXPE’s portfolio management function to Blackstone Private Investments Advisors L.L.C. (the “Investment Manager”) on January 2, 2024. The Investment Manager has discretion to make investments on behalf of BXPE and is responsible for initiating, structuring, and negotiating BXPE’s investments, as well as actively managing each investment to seek to maximize value. The Investment Manager is a Delaware limited liability company and is registered with the United States Securities and Exchange Commission (“SEC”) as an investment adviser under the Investment Advisers Act of 1940, as amended. The General Partner or the Investment Manager will provide administration services to BXPE and are individually and collectively referred to as the “Sponsor.” Both the General Partner and Investment Manager are subsidiaries of Blackstone. See Note 8. “Subsequent Events.”

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements of BXPE have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). BXPE is considered an investment company under GAAP and follows the accounting and reporting guidance applicable to investment companies in the Financial Accounting Standards Board Accounting Standards Codification Topic 946, Financial Services—Investment Companies Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Actual results may ultimately differ materially from those estimates. Cash and Cash Equivalents Cash and Cash Equivalents represents cash on hand, cash held in banks, money market funds and liquid investments with original maturities of three months or less. Organizational and Offering Expenses Organizational and offering costs will only be borne by BXPE when BXPE first accepts third-party Income Taxes BXPE is treated as a partnership for income tax purposes and is not subject to income taxes. Certain intermediate entities of BXPE may be subject to income taxes.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	3. Related Party Transactions Partnership Agreement BXPE has entered into a limited partnership agreement (the “Partnership Agreement”) with the General Partner. Overall responsibility for BXPE’s oversight rests with the General Partner, subject to certain oversight rights held by BXPE’s Board of Directors. The General Partner has delegated BXPE’s portfolio management function to the Investment Manager on January 2, 2024. Performance Participation Allocation The General Partner will be allocated a performance participation (“Performance Participation Allocation”) by BXPE (directly or indirectly through an intermediate entity) equal to 12.5% of total return subject to a 5% annual hurdle amount and a high water mark with 100% catch-up. pro-rating Investment Management Agreement On January 2, 2024, BXPE entered into an investment management agreement with the Investment Manager (the “Investment Management Agreement”). Management Fee In consideration for its investment management services, BXPE (directly or indirectly through an intermediate entity) will pay the Investment Manager a management fee (the “Management Fee”) equal to 1.25% of BXPE’s transactional net asset value (“Transactional NAV,” the price at which BXPE sells and redeems Units, calculated in accordance with a valuation policy that has been approved by BXPE’s Board of Directors) per year payable monthly, before giving effect to any accruals for the Management Fee, servicing fees related to BXPE’s Class S and Class D Units, Administration Fee (as defined below), Performance Participation Allocation, pending unit repurchases, any distributions and without taking into account accrued and unpaid taxes of any intermediate entity through which BXPE indirectly invests in an investment or taxes paid by any such intermediate entity during the applicable month. The Management Fee will be calculated by the Sponsor. The Investment Manager may elect to receive the Management Fee in cash, Units and/or shares or units of intermediate entities. If the Management Fee is paid in Units, such Units may be repurchased at the Investment Manager’s request and will be subject to certain limitations. Additionally, the Investment Manager may separately elect for the Management Fee to be paid (in whole or in part) to an affiliate of the Investment Manager in satisfaction of Management Fee amounts owed to the Investment Manager in connection with services provided by such affiliate to BXPE and/or any intermediate entity. The Investment Manager has agreed to waive the Management Fee for the first six months following the date on which BXPE first accepts third-party investors and commences investment operations, which was January 2, 2024. Administration Fee The Investment Manager will provide administration services to BXPE, consistent with the Partnership Agreement and Investment Management Agreement. In consideration for its administrative services, the Investment Manager will be entitled to receive an administration fee (the “Administration Fee”) payable by BXPE, equal to, in the aggregate, 0.10% of BXPE’s Transactional NAV per annum payable monthly, before giving effect to any accruals for the Management Fee, the servicing fee, Administration Fee, and the Performance Participation Allocation, pending Unit repurchases, any distributions and without taking into account accrued and unpaid taxes of any intermediate entity through which BXPE indirectly invests in an investment or taxes paid by any such intermediate entity during the applicable month. Dealer Manager Agreement On September 29, 2023, BXPE entered into a Dealer Manager Agreement (the “Dealer Manager Agreement”) with Blackstone Securities Partners L.P. (the “Dealer Manager”), a broker-dealer registered with the SEC under the Exchange Act and a member of the Financial Industry Regulatory Authority. Pursuant to the Dealer Manager Agreement, the Dealer Manager manages BXPE’s relationships with third-party brokers engaged by the Dealer Manager to participate in the distribution of Units, which are referred to as participating brokers, and financial advisors. The Dealer Manager also coordinates BXPE’s marketing and distribution efforts with participating brokers and their registered representatives with respect to communications related to the terms of BXPE’s offering, its investment strategies, material aspects of its operations and subscription procedures. The Dealer Manager is entitled to receive unitholder servicing fees monthly in arrears at an annual rate of % of the value of BXPE’s Transactional NAV attributable to Class S Units as of the last day of each month. The Dealer Manager is entitled to receive unitholder servicing fees monthly in arrears at an annual rate of % of the value of BXPE’s Transactional NAV attributable to Class D Units as of the last day of each month. In calculating the servicing fee, BXPE uses the Transactional NAV before giving effect to any accruals for the servicing fee, repurchases, if any, for that month and distributions payable on BXPE’s Units. There will not be unitholder servicing fees with respect to Class I Units. The unitholder servicing fees are payable to the Dealer Manager, but the Dealer Manager anticipates that all or a portion of such fees will be retained by, or reallowed (paid) to, participating brokers or other financial intermediaries. See Note 5. “Net Assets” for further details. BXPE accrues the cost of the servicing fees, as applicable, for the estimated life of the Units as an offering cost at the time they are sold for Class S and Class D Units. Warehousing Agreement; Line of Credit Agreement BXPE, Blackstone Private Equity Strategies Fund SICAV (together with its master fund, feeder funds, parallel funds and other related entities, “BXPE Lux”) and the Investment Manager, in its capacity as investment manager, on behalf of and not for its own account, of (a) BXPE and (b) BXPE Lux (together with BXPE, the “BXPE Funds”) entered into an Amended and Restated Warehousing Agreement (the “A&R Warehousing Agreement”) with Blackstone Holdings Finance Co. L.L.C. (“Finco”), a subsidiary of Blackstone, in connection with the launch and ramp of the BXPE Funds. The BXPE Funds have also entered into an amended and restated unsecured, uncommitted line of credit agreement (“A&R Line of Credit”) with Finco. For additional information, see Note 6. “Warehousing Agreement,” Note 7. “Line of Credit Agreement” and Note 8. “Subsequent Events” herein. Feeder Blackstone Private Equity Strategies Fund (TE) L.P. (the “Feeder”), a Delaware limited partnership, is a feeder vehicle for BXPE. The Feeder intends to invest all or substantially all of its assets in BXPE. The Feeder was established to allow certain investors with particular tax characteristics, such as tax-exempt non-U.S. Parallel Funds The term “Parallel Fund” refers to one or more parallel vehicles established by, or at the direction of, the Sponsor to invest alongside the Fund, but excluding BXPE Lux (as defined above and as determined in the Investment Manager’s discretion). The Parallel Funds may be established to allow for certain investors with particular legal, tax, regulatory, compliance, structuring or certain other operational requirements to participate in BXPE. Parallel Funds may not have investment objectives and/or strategies that are identical to the investment objectives and strategies of BXPE or the Feeder. Each Parallel Fund (and each Parallel Fund’s investors) will bear a proportional share of the Management Fee, Administration Fee and the Performance Participation Allocation. Parallel Funds are expected to invest directly, or indirectly through one or more Intermediate Entities, into the Aggregator (as defined below). Aggregator BXPE expects to invest all or substantially all of its assets in BXPE US Aggregator (CYM) L.P., a Cayman Islands exempted limited partnership (including any successor vehicle or vehicles used to aggregate the holdings of BXPE and any Parallel Funds) (the “Aggregator”). One or more Parallel Funds are expected to invest in the Aggregator alongside BXPE. BXPE Lux BXPE will invest alongside BXPE Lux, a Luxembourg alternative investment fund available to individual investors primarily domiciled in countries of the European Economic Area, the United Kingdom, Switzerland, Asia and certain other jurisdictions. While BXPE and BXPE Lux have substantially similar investment objectives and strategies and are expected to have highly overlapping investment portfolios, BXPE and BXPE Lux will be operated as distinct investment structures. Affiliates The General Partner, Investment Manager, Dealer Manager, Feeder, Parallel Funds, Aggregator and BXPE Lux are affiliates of BXPE. BXPE, Feeder, Parallel Funds, Aggregator and BXPE Lux collectively form the BXPE Fund Program.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	4. Commitments and Contingencies Commitments The Investment Manager has agreed to advance organizational and offering expenses, other than subscription fees and servicing fees related to Class S and Class D Units, on BXPE’s behalf through the first anniversary of the date on which BXPE first accepts third-party third-party

Net Assets

Net Assets	12 Months Ended
	Dec. 31, 2023
Net Asset [Abstract]
Net Assets	5. Net Assets The General Partner has the authority to issue an unlimited number of Units of each Unit Class. BXPE offers three classes of limited partnership Units: Class S, Class D, and Class I Units. The purchase price per Unit of each Class is equal to the Transactional NAV per Unit for such Class as of the last calendar day of the immediately preceding month. Until BXPE has determined its first Transactional NAV, the subscription price for Units will be $25.00 per unit plus applicable subscription fees. Transactional NAV for each Unit Class will first be determined as of the end of the first full month after BXPE has accepted third-party investors and commenced investment operations. Thereafter, the Transactional NAV for each Unit Class will be calculated monthly by the Sponsor. The Transactional NAV will be based on the month-end Certain financial intermediaries through which a Unitholder is placed in BXPE may charge the unitholder upfront selling commissions, placement fees, subscription fees or similar fees (“Subscription Fees”) of up to (a) 3.5% of Transactional NAV on Class S Units and (b) 1.5% of Transactional NAV on Class D Units sold in the offering. These Subscription Fees are paid by the Unitholder outside of its investment in BXPE and not reflected in BXPE’s NAV. On June 15, 2022, the Investment Manager purchased Class I Units at a price of $ per unit as its initial capital and subsequently transferred those interests to the General Partner on January 2, 2024. As of December 31, 2023, the Investment Manager was BXPE’s only Unitholder. See Note 8. “Subsequent Events.”

Warehousing Agreement

Warehousing Agreement	12 Months Ended
	Dec. 31, 2023
Warehousing Agreement [Abstract]
Warehousing Agreement	6. Warehousing Agreement On November 4, 2022, BXPE, BXPE Lux and Blackstone Private Investments Advisors L.L.C., in its capacity as investment manager, on behalf of and not for its own account, entered into the Warehousing Agreement with Finco. On November 3, 2023, the Warehousing Agreement was amended and restated. Under the A&R Warehousing Agreement, in connection with the launch and ramp of the BXPE Fund Program, Finco and its affiliates have agreed to acquire certain investments that have been approved by the Investment Manager and the BXPE Funds’ investment committee up to an aggregate invested equity amount of $500.0 million (or such higher amount as is agreed between the parties), subject in each case, to Finco’s approval at the time of acquisition (each, an “Approved Warehoused Investment”). Finco has agreed to subsequently transfer each Approved Warehoused Investment to the BXPE Funds, and the BXPE Funds have agreed to acquire such investments from Finco, on the terms described in the A&R Warehousing Agreement following the point or points in time at which the BXPE Funds have sufficient capital to acquire such investments, as determined by the Investment Manager in its sole discretion (each such date, a “Warehouse Closing Date”). On each Warehouse Closing Date, the BXPE Funds will acquire from Finco each funded Approved Warehoused Investment selected by the Investment Manager for such Warehouse Closing Date at a price equal to the cost of such Approved Warehoused Investment paid by Finco plus an amount equal to an annualized rate of 5% (or such lower amount as is agreed between the parties) measured over the period from the date the Approved Warehoused Investment was acquired by Finco to the applicable Warehouse Closing Date. The Investment Manager will determine in its sole discretion which and what portions of Approved Warehoused Investments that BXPE and BXPE Lux will acquire on each Warehouse Closing Date. Finco will continue to provide committed funding for Approved Warehoused Investments until the applicable Warehouse Closing Date, unless extended by the mutual agreement of the parties. Each of the BXPE Funds will bear its proportionate (a) fees, costs and expenses, if any, incurred in developing, negotiating and structuring any Approved Warehoused Investment that is transferred to BXPE and/or BXPE Lux and (b) broken deal expenses. The term of the A&R Warehousing Agreement shall be through November 2, 2024 (one year), unless extended by the mutual agreement of the parties. As of December 31, 2023, affiliates of Finco have acquired, or entered into definitive agreements to acquire, five equity investments and four debt investments, for a total funded amount of $329.5 million, pursuant to the A&R Warehousing Agreement. The warehoused investments include equity and debt direct investments in the artificial intelligence and financial services industries and secondary investments. Any investments that have not yet closed are subject to customary closing conditions, and BXPE’s obligation to purchase any of the investments from Finco is contingent upon BXPE raising sufficient capital to purchase such assets as determined by the Investment Manager. As of December 31, 2023, the Investment Manager had not determined the allocations of investments between BXPE and BXPE Lux and it is not certain whether BXPE will ultimately acquire any such investments. As of December 31, 2023, the unused capacity under the A&R Warehousing Agreement was $170.5 million. See Note 8. “Subsequent Events.”

Line of Credit Agreement

Line of Credit Agreement	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Line of Credit Agreement	7. Line of Credit Agreement On November 3, 2023, the BXPE Funds entered into an A&R Line of Credit up to a maximum amount of $300.0 million with Finco. The A&R Line of Credit expires on November 2, 2024, subject to one year extension options requiring Finco approval. Under the A&R Line of Credit, the interest rate on the unpaid balance of the principal balance amount of each loan is: (a) prior to the date on which a BXPE Fund first accepts third-party investors and begins investment operations (the “Initial Closing Date”), a rate of 5.00% (or such lesser amount as determined by Finco in its sole discretion) and (b) on and after the Initial Closing Date, the then-current borrowing rate offered by a third-party lender, or, if no such rate is available, the applicable Secured Overnight Financing Rate (“SOFR”) plus 3.00%. Each advance under the A&R Line of Credit is repayable on the earliest of (a) the expiration of the A&R Line of Credit, (b) Finco’s demand and (c) the date on which Blackstone Private Investments Advisors L.L.C. no longer acts as investment manager to the BXPE Funds, provided that the BXPE Funds will have 180 days to make such repayment in the cases of clauses (a) and (b) and 45 days to make such repayment in the case of clause (c). To the extent the BXPE Funds have not repaid all loans and other obligations under the A&R Line of Credit after a repayment event has occurred, each BXPE Fund is obligated to apply the net cash proceeds from its offering and any sale or other disposition of assets to the repayment of such loans and other obligations; provided that the BXPE Funds will be permitted to (w) make distributions to avoid any entity level tax, (x) make payments to fulfill any repurchase requests of the BXPE Funds or any of their feeder vehicles pursuant to any established unit repurchase plans, (y) use funds to close any investment which the BXPE Funds committed to prior to receiving a demand notice and (z) make distributions to its unitholders or shareholders at per unit or per share levels consistent with the immediately preceding fiscal quarter. The A&R Line of Credit also permits voluntary pre-payment

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	8. Subsequent Events BXPE commenced operations on January 2, 2024. Subscriptions As of March 15, 2024, BXPE and the Parallel Fund (excluding BXPE Lux) have issued interests for aggregate consideration of: • $1.3 billion in connection with BXPE’s initial closing on January 2, 2024, • $290.5 million and $359.2 million in connection with BXPE’s closings on February 1 and March 1, 2024, respectively, and • $594.1 million in connection with the initial closing of a Parallel Fund on March 1, 2024 that invests alongside BXPE into the Aggregator. Investment Manager On January 2, 2024, BXPE entered into an investment management agreement with the Investment Manager. Subsequently, the Investment Manager transferred its 4,000 Class I Units to the General Partner at a price of $25.00 per unit. See Note 3. “Related Party Transactions.” Warehouse and Investment Portfolio On January 2, 2024, the BXPE Fund Program acquired 11 investments and commitments from Finco and its affiliates at cost pursuant to the A&R Warehousing Agreement. As of March 15, 2024, the warehouse has been fully repaid and no amounts remain outstanding. As of March 15, 2024, the BXPE Fund Program’s portfolio consists of 23 investments and future commitments to acquire investments totaling up to $ 2.1 billion. Any investments that have not yet closed are subject to customary closing conditions and may not close as expected or at all.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements of BXPE have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). BXPE is considered an investment company under GAAP and follows the accounting and reporting guidance applicable to investment companies in the Financial Accounting Standards Board Accounting Standards Codification Topic 946, Financial Services—Investment Companies
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Actual results may ultimately differ materially from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and Cash Equivalents represents cash on hand, cash held in banks, money market funds and liquid investments with original maturities of three months or less.
Organizational and Offering Expenses	Organizational and Offering Expenses Organizational and offering costs will only be borne by BXPE when BXPE first accepts third-party
Income Taxes	Income Taxes BXPE is treated as a partnership for income tax purposes and is not subject to income taxes. Certain intermediate entities of BXPE may be subject to income taxes.

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2023
Related Party Transaction [Line Items]
Percentage of performance participation allocation	12.50%
Percentage of annual hurdle amount	5%
Related party transaction, rate	100%
Percentage of management fee of entity net asset value	1.25%
Administration fee payable rate	0.10%
Dealer Manager [Member] | Dealer Manager Agreement [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Percentage of annual rate on monthly servicing fee	0.85%
Dealer Manager [Member] | Dealer Manager Agreement [Member] | Minimum [Member]
Related Party Transaction [Line Items]
Percentage of annual rate on monthly servicing fee	0.25%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Investment Manager [Member] | Offering Expenses [Member]
Commitments and Contingencies Disclosure [Line Items]
Related party transaction, amounts of transaction	$ 7.8

Net Assets - Additional Informa

Net Assets - Additional Information (Detail) - $ / shares	Jun. 15, 2022	Dec. 31, 2023	Dec. 31, 2022
Net Asset [Line Items]
Net asset value per share	$ 25	$ 25	$ 25
Stock issued during period, shares, new issues	4,000
Class S Units [Member]
Net Asset [Line Items]
Investment owned, percent of net assets		3.50%
Class D Units [Member]
Net Asset [Line Items]
Investment owned, percent of net assets		1.50%

Warehousing Agreement - Additio

Warehousing Agreement - Additional Information (Detail) - USD ($) $ in Millions	Nov. 03, 2023	Mar. 15, 2024	Dec. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Investments		$ 2,100
Warehouse Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Equity Method Investments	$ 500
Annualized Rate	5%
Investments unused capacity amount			$ 170.5
Investments			$ 329.5

Line of Credit Agreement - Addi

Line of Credit Agreement - Additional Information (Detail) $ in Millions	Nov. 03, 2023 USD ($)
Line of Credit Agreement [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Line of Credit Facility [Line Items]
Debt instrument interest rate	3%
Line of Credit [Member]
Line of Credit Facility [Line Items]
Debt instrument, payment terms	Each advance under the A&R Line of Credit is repayable on the earliest of (a) the expiration of the A&R Line of Credit, (b) Finco’s demand and (c) the date on which Blackstone Private Investments Advisors L.L.C. no longer acts as investment manager to the BXPE Funds, provided that the BXPE Funds will have 180 days to make such repayment in the cases of clauses (a) and (b) and 45 days to make such repayment in the case of clause (c).
Line of credit facility, maximum borrowing capacity	$ 300
Debt instrument interest rate	5%

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Mar. 01, 2024	Feb. 01, 2024	Jan. 02, 2024	Mar. 15, 2024	Dec. 31, 2023	Dec. 31, 2022	Jun. 15, 2022
Subsequent Event [Line Items]
Partners' capital account, sale of units	$ 359,200	$ 290,500	$ 1,300,000
Net asset value per share					$ 25	$ 25	$ 25
investment owned, balance, shares			11	23
Investments				$ 2,100,000
Parallel Fund [Member] | Aggregator [Member]
Subsequent Event [Line Items]
Proceeds from subscribtions	$ 594,100
Class I [Member]
Subsequent Event [Line Items]
Transfer from Investments			$ 4,000
Net asset value per share			$ 25