The manager graph behind U.S. private real estate capital. Which vehicles a manager swears to, what each reports year by year, what the manager says it does, and, where the evidence holds, which owner entities, properties, loans, lenders and pensions stand behind it. GAV is gross asset value on a filing date, never fund size, and every manager-to-property link carries its evidence class.

Vehicle

Blackstone Real Estate Debt Strategies III L.P.

managed by Blackstone Real Estate Special Situations Advisors L.L.C.masterHarvesting805-7094863041
What the adviser swears
Gross asset value
$1.8B GAV 2024assets on the filing date; never fund size, commitments or dry powder
Beneficial owners
88
Minimum investment
$10.0M
Ownership
adviser and related 3%, funds of funds 0%, non-US 63%
Structure
master7.B.(1) master fund = Y
Exclusion
3(c)(7)
Jurisdiction
DE, United States
Form D file number
021-2533107.B.(1).A.22; the join to Form D is a later cycle
First reported
Mar 30, 2016
Last reported
2024
Vintage
2016basis: adv_first_reported
Name says
Debt (Debt)
Lifecycle
Harvestingassets fell 64% from the 2020 peak
Admission
sworn as a Real Estate Fund
GAV by year
9 years reported
2016
$1.3B49 owners
2017
$4.6B49 owners
2018
$4.1B88 owners
2019
$4.8B88 owners
2020
$5.0B88 owners
2021
$3.9B88 owners
2022
$3.0B88 owners
2023
$2.1B88 owners
2024
$1.8B88 owners
Bound holdings
0 trusted of 0 candidate
No validated holdings yet. Candidate bindings stay off this page until their rule passes the blind-label gate.

A holding binds to a VEHICLE only when the owner name carries the vehicle’s stem and numeral; most holdings bind to the manager alone.

Who backs this vehicle?
1 allocators
  • New York State Common Retirement Fund exact_name$23.9M fair value, as of Mar 31, 2025 osc.ny.gov
Placement agents and auditors
2 placement agents reported
  • Park Hill Group LLC placement agent of, third party
  • NH Investment & Securities Co., Ltd. placement agent of, third party
Dated events
  • Vehicle first reported Mar 30, 2016 (observed) Blackstone Real Estate Debt Strategies III L.P. first reported on Form ADV by Blackstone Real Estate Special Situations Advisors L.L.C., GAV $1,328,500,000