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BlackstoneLU3195989010Class I-A-USD
With this ELTIF, Blackstone opens its infrastructure platform to European retail investors for the first time: core and core-plus infrastructure through primaries, secondaries and fund building blocks, launched in 2026.
Monthly subscription; quarterly redemption with two months' notice; the gate is — typically for Blackstone — measured across all aggregator parallel vehicles and set tighter than the field standard. A two-year soft lock makes early exits more expensive. The recommended holding period is eight years.
Subscription from EUR 10,000 for eligible retail investors and professional investors; broadly registered from launch, with roughly thirty distribution countries including Germany.
The most prominent infrastructure market entry of the year: after BXPE and ECRED, Blackstone completes its semi-liquid trio — this time in a retail framework. The structure-wide gate measurement remains the Blackstone specificity shared by investors in all three products.
Figures for class I-A-USD (LU3195989010) · product data 19 Aug 2026 · sources: prospectus (as at 1 Sep 2026), PRIIPs-KID, Factsheet — full list under 08 documents.
Since the data series began in Jan 2026, the unit price has gained 22.1% (cumulative, 0.6 years). The series is still short; valuations of private holdings arrive quarterly and smoothed.
8 monthly values · Source: price feed / provider document, secondary source (data portal) · Price return excluding distributions · Returns calculated by semiliquid.info from the NAV series, not an official provider figure. Taxes and dealing costs of reinvestment are not considered. Past performance is not a reliable indicator of future results. distributing, no distribution data — price return excluding distributions.
What the prospectus permits: Direct investments, infrastructure secondaries, primary commitments in commingled funds as well as infrastructure credit; smaller allocation to liquid debt and other securities for income generation, capital allocation and liquidity management.
Taxonomy of semiliquid.info; only published values are used, nothing is estimated. The actual portfolio breakdown is in 03 Portfolio.
The largest holdings are QTS Data Centers, Tallgrass Energy, Carrix. 9.0% is held in the liquidity reserve — enough for 9 months of maximum redemptions.
How the reserve is invested: Liquid Debt (aggregate position) 9.1%. It covers 9 months of the maximum net redemption (at most 12% per year under the gate) — what that means for redemptions is in 06.
Among the largest positions: 3 equity holdings.
U.S. operator of hyperscale and colocation data centers headquartered in Overland Park, Kansas, leasing capacity primarily to large cloud and technology companies.
Tallgrass Energy is a US midstream company based in Leawood, Kansas, operating natural gas and crude oil pipelines as well as storage and terminal facilities …
Seattle-based Carrix is the parent company of SSA Marine, one of the world's largest marine terminal operators, with more than 200 port and rail locations, including in the US, Mexico …
Positions and shares according to the provider; weights of the holdings are not reported; short descriptions by semiliquid.info from public sources; holdings as at 31 May 2026, reserve as at 30 Jun 2026; Allocation according to the uniform semiliquid taxonomy; only published values are used, nothing is estimated.
With ongoing costs of 2.08%, class I-A-USD is below the median of the asset class (2.42%). On top comes a performance fee of 12.50% above a hurdle of 5% — with a high-water mark.
For 10,000 USD this means roughly 208 USD per year.
For 10,000 USD, a one-off up to 350 USD on purchase and up to 500 USD on redemption.
Based on the PRIIPs key information document of class I-A-USD, hence comparable across providers. Median: 25 Infrastructure funds in this database, data run 16 Oct 2026.
Units can be subscribed monthly. The price is the NAV at the end of the previous month — it is not known when the order is placed and is published only 20 business days later.
Complete Subscription Document as a condition of acceptance, hence 4 business days before …
Waiver possible by the General Partner; longer notice periods may be agreed for …
Price = NAV at the end of the previous month.
NAV as at the last calendar day of the month, available by the 20th business day after …
pre-funding: 4 business days before dealing day
An order placed today is invested in — days (—); the money is due on —. Miss the cut-off and you move to the next dealing day: cut-off —, invested from —.
| Frequency | monthly |
|---|---|
| Procedure | fully paid-in |
| Dealing day | 1st calendar day of the month |
| Cut-off | 4 business days before dealing day · 17:00 CET · (before the anchor date) |
| Price | previous month-end |
| NAV publication | NAV as at the last calendar day of the month, available by the 20th business day after the valuation day |
| Payment | pre-funding: 4 business days before dealing day |
| Minimum investment | 10000 USD |
| Subscription limit | The Investment Manager may reject or delay subscriptions at its discretion, or defer all subscriptions for a given Subscription Date |
| KYC / documents | Complete Subscription Document as a condition of acceptance, hence 4 business days before Subscription Date |
| Revocation | Revocation until 17:00 CET on the last business day before the Subscription Date |
| Business day | Business Day = any day on which the securities markets in Luxembourg, the US, France and the UK are open (General Section, glossary p. 61) |
Dates calculated from the prospectus rules (bank holidays: FR, GB, LU, US); only the transfer agent’s confirmation is binding. Data as at 19 Aug 2026 · Documents: 08.
Units can be redeemed quarterly — with a volume limit (Gate), lock-up 3 months. How quickly the money arrives and what happens if many want out at once is set out below.
Redemption request by 17:00 CET on the last business day of the first month of the quarter in which the …
NAV per unit less redemption fee (up to 5%)
NAV at previous quarter-end (—)
redemption day
A request made today is paid out on — — — days.
Shown without a date because the prospectus does not quantify: cut-off. The remaining markers are calculated from the prospectus rules.
Money typically within a year — on average 233 days from decision to cash.
Rank 104 of 112 · rank 19 of 23 in Infrastructure · 3 months lock-up · exit costs of 5.0% included
Money typically within half a year — on average 142 days from decision to cash.
3 months lock-up — expired for existing holdings · no fixed redemption fee
Confidence high — prospectus complete, dates calculated, no assumptions in the value · prospectus as at 1 Sep 2026 · score run 16 Oct 2026 · How 233 days become 0 pointsThe score measures how quickly and reliably you can get your money out according to the prospectus — not whether the fund is good.
| Character | redemption right |
|---|---|
| Frequency | quarterly |
| Valuation day | quarter-end |
| Notice | 17:00 CET · (counted from month-end) |
| Price | quarter-end |
| Payout | 35 calendar days after redemption day |
| Gate | 3% gross of NAV at the previous quarter-end per quarter; ELTIF Redemption Limit: Reference Percentage 27.3% (ELTIF RTS Annex I Option 1) times the sum of UCITS-eligible … |
| Scaled-back portion | scaled-back portion lapses; new request required, no priority |
| Redemption fee (max.) | up to 5% (24 months, cliff (lapses after the period)) |
| Lock-up | investor-level, 3 months (subscription) |
| Suspension | Force Majeure; valuation not possible; price sources/FX/payment transactions disrupted |
| Liquidity tools | Extension of the notice period; redemption in kind (professional investors only); suspension only in exceptional cases. |
| Switch / transfer | Transfer with the consent of the General Partner; individual classes may be listed on the Luxembourg Stock Exchange |
| Compulsory redemption | Minimum Account Redemption where the holding falls below EUR 500; Prohibited Persons; compulsory redemption on liquidation of a sub-fund/class |
max. 3% of the aggregate NAV of all Aggregator parallel vehicles and of the BXINFRA Aggregator per calendar quarter (measured as at the end of the preceding quarter, excluding the 'Selected Parallel Entities'); shares received by the Investment Manager as a management fee are disregarded
In the prospectus, the 3% limit relates to the aggregate NAV of all Aggregator parallel vehicles and of the BXINFRA Aggregator per calendar quarter (measured as at the end of the previous quarter, excluding the 'Selected Parallel Entities') - not to the NAV of this sub-fund.
Dates calculated from the prospectus rules (bank holidays: FR, GB, LU, US); only the transfer agent’s confirmation is binding. Data as at 19 Aug 2026 · Documents: 08.
10 classes. All cost and risk figures on this page refer to the basis class I-A-USD.
PRIIPs KID ✓: a key information document exists and is the source of the costs. —: no KID documented — the class is distributed outside the EEA or to investors not covered by the KID requirement, or the document is not available.
Who is behind the fund, where it may be distributed — and which documents were evaluated.
| Document | As at | Used for |
|---|---|---|
| Prospectus | Sep 2026 | — |
| Key information document (PRIIPs KID) | 22 Aug 2025 | — |
| Factsheet / monthly report | 30 Jun 2026 | — |
| NAV series price feed / provider document, secondary source (data portal) | 31 Aug 2026 | Performance (01) |
| Positions and reserve | 31 May 2026 | Portfolio (03) |
All figures are taken from provider documents (product data as at 16 Oct 2026, distribution data as at 5 Oct 2026) and have not been conclusively verified.
Redemption quarterly, with 3% gate per quarter. Subscribing today, it takes on average 233 days from decision to cash under the prospectus deadlines; a gate is not factored in.
Ongoing costs of 2.08% p.a. according to the PRIIPs KID for class I-A-USD; the median of the Infrastructure funds in this database is 2.42%; plus a performance fee of 12.50%.
10,000 USD in class I-A-USD.
Yes. According to our evidence, the fund is open to retail investors in Germany (as at 5 Oct 2026). The Access check shows the details.
As at 16 Oct 2026, no redemption restriction is documented for the Blackstone Infrastructure Strategies ELTIF. Under the prospectus a gate of 3% per quarter applies.
Same asset class, similar sub-strategy.
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EQT AB / EQT Global Wealth Solutions · ELTIF 2.0 · quarterly
Liquidity score in the “as of today” view with average days to cash. No recommendation, no ranking.