Blackstone European Property Income Fund SICAV

BEPIF SICAV

Interested in this fund?
Get a warm intro to the fund manager

Overview Strategy Performance Allocations Key terms Share classes FAQ

Overview

Legal Name:

Blackstone European Property Income Fund SICAV

Manager:

Blackstone

Website:

https://www.blackstone.com/

Fundraising Status:

Open

Domicile:

Luxembourg

Legal Form:

Lux SICAV (S.A.)

Regulatory Regimes:

Lux UCI (Part II), Lux AIF (other)

Term:

Perpetual-Life

Base Currency:

EUR

Launch Year:

2021

Inception Date:

Oct 1, 2021

Size:

€600M (as of Feb 28, 2026)

No. of Investments:

78 (as of Feb 28, 2026)

Administrator:

CACEIS Bank, Luxembourg branch

Investor Eligibility Segments:

Institutional, Professional / Accredited, Retail

Permitted Distribution Countries:

Finland, Luxembourg, Norway, Belgium, Denmark

Strategy

BEPIF invests primarily in substantially stabilised, income-generating European real estate, focusing on logistics, prime office, residential, mixed-use and net-lease assets across the U.K. and core European markets, via direct property ownership and units in Blackstone's Core+ fund, with a small allocation to public and private real-estate-related debt to support income and liquidity. The strategy emphasizes thematic, high-conviction sector selection and active asset and portfolio management.

Asset Classes:

Real Estate

Strategy:

Core Plus (RE)

Underlying Investment Type:

Direct investments

Geographic Focus Region:

Europe

Geographic Focus:

United Kingdom, Germany, France, Ireland, Netherlands, Poland, Italy, Spain, Nordics

Sector Focus (GICS):

Real Estate

Sector Focus (not standardized):

Real estate, Logistics real estate, Office real estate

Other Focus:

ESG Investment Focus

Leverage Limits Summary:

Leverage capped at 55% of gross asset value (Leverage Ratio), may be temporarily exceeded for liquidity/refinancing.

Investment Limits Summary:

No more than 20% of NAV per property.

Performance

for IA-EUR share class

Total Returns (% Net of Fees)

Net returns (since inception)	IA-EUR
Total Return	-16.7%
Annualized Return	-4.1%
Best Month	(Oct 2021)3.9%
Worst Month	(Dec 2023)-6.2%
Risk metrics (since inception)
Volatility	6.5%
Sharpe Ratio (4.3% risk-free)	-1.3

Unlock full fund profile

Get free access

Key terms

for IA-EUR share class

Share Class

Minimum Subsribtion:

€25,000

Currency:

EUR

Inception Date:

Oct 1, 2021

Distribution Type:

Accumulating

Investor Type:

Institutional

Liquidity

Gate:

2% of aggregate NAV across parallel entities per month and 5% per calendar quarter.

Gate Level:

Aggregate NAV

Redemption Frequency:

Monthly

Redemption Basis:

NAV per Share as of the last calendar day of the month

Subscribtion Frequency:

Monthly

Subscribtion Basis:

NAV per Share as of the end of the immediately preceding month

Fees

Management Fee:

1.25%

Payable monthly

Management Fee Basis:

NAV

NAV before accruals for management, servicing, carry, redemptions and distributions

Performance Fee:

12.50%

5% annualised hurdle; 100% catch-up; Loss Carryforward high water mark; monthly accrual, paid quarterly; crystallises on year-end and redemptions

Performance Fee Basis:

Change in NAV, Distributions

Total Return combines distributions, change in aggregate NAV and other income less fund expenses; excludes FX/hedging and servicing fees; Loss Carryforward high water mark; quarterly shortfall clawback

Hurdle rate:

5.00%

5% annualised IRR

Catch-up:

100.00%

100% catch-up until Recipient has 12.5% of Hurdle Amount plus catch-up; thereafter 12.5%

Front load (subscription):

0.00%

Intermediary upfront commissions/placement fees may apply outside the fund.

Back load (redemption):

5.00%

If redeemed within 12 months of subscription.

Servicing fee:

0.00%

Management Fee:	1.25%	Payable monthly
Management Fee Basis:	NAV	NAV before accruals for management, servicing, carry, redemptions and distributions
Performance Fee:	12.50%	5% annualised hurdle; 100% catch-up; Loss Carryforward high water mark; monthly accrual, paid quarterly; crystallises on year-end and redemptions
Performance Fee Basis:	Change in NAV, Distributions	Total Return combines distributions, change in aggregate NAV and other income less fund expenses; excludes FX/hedging and servicing fees; Loss Carryforward high water mark; quarterly shortfall clawback
Hurdle rate:	5.00%	5% annualised IRR
Catch-up:	100.00%	100% catch-up until Recipient has 12.5% of Hurdle Amount plus catch-up; thereafter 12.5%
Front load (subscription):	0.00%	Intermediary upfront commissions/placement fees may apply outside the fund.
Back load (redemption):	5.00%	If redeemed within 12 months of subscription.
Servicing fee:	0.00%

Share classes

Name	Min. Subscription	Currency	Inception	Distribution	Investor Type	ISIN	BBG Ticker
IA-EUR	25,000 EUR	EUR	2021-10-01	Accumulating	Institutional	-	-
Class B eg	250,000 EUR	EUR	15 Mar 2018	Accumulating	Institutional	LU1987654321	FUND B LX
Class C Example	500,000 USD	USD	01 Jun 2019	Distributing	Professional	IE0123456789	FUND C ID
Class D eg.	100,000 GBP	GBP	22 Sep 2020	Accumulating	Institutional	GB00ABCDEF12	FUND D LN
Class E Example	25,000 EUR	EUR	03 Jan 2021	Distributing	Retail	LU9988776655	FUND E LX
Class F Example	1,000,000 USD	USD	10 Nov 2017	Accumulating	Institutional	US1234567890	FUND F US

FAQ

What is Blackstone European Property Income Fund SICAV?

Blackstone European Property Income Fund SICAV is an evergreen Lux UCI fund focused on Real Estate and managed by Blackstone.

Who manages Blackstone European Property Income Fund SICAV?

Blackstone European Property Income Fund SICAV is managed by Blackstone, based in New York, New York, United States.

How big is Blackstone European Property Income Fund SICAV?

Blackstone European Property Income Fund SICAV has a size of €600M.

What type of fund is Blackstone European Property Income Fund SICAV?

Blackstone European Property Income Fund SICAV is an open-ended / evergreen Lux UCI fund investing in real estate and domiciled in Luxembourg.

When was Blackstone European Property Income Fund SICAV launched?

Blackstone European Property Income Fund SICAV was launched on Oct 1, 2021 and is structured as a Lux SICAV (S.A.) vehicle with a perpetual-life term.

Where is Blackstone European Property Income Fund SICAV domiciled and regulated?

Blackstone European Property Income Fund SICAV is domiciled in Luxembourg under Lux UCI (Part II) and Lux AIF (other).

Data transparency

Borgline's fund database is powered by a dedicated analyst team that systematically sources, verifies, and maintains fund information from document-based disclosures, delivering clear, current, and fully auditable data.

Verified across sources
Systematic quality checks
Data continuously monitored

Where does Borgline get its fund data from?

Borgline sources fund data from fund manager reports, regulatory filings, offering documents, investor reports, and information obtained through Freedom of Information Act (FOIA) requests.

How often is the data updated?

Borgline continuously monitors fund manager communications, regulatory filings, and other primary data sources and updates fund records whenever new or corrected information is released.

How does Borgline ensure data accuracy?

Borgline's analyst team cross-checks key figures across independent documents and updates the database only when data is confirmed against the latest, most authoritative disclosures.

Unlock full profile

Get free access

Ready to get started?

Get full access to Borgline's global evergreen fund database, analytics and benchmarks at no cost.

Benchmark & Compare

Measure fund performance and analyze historical allocations

Deepest coverage

Database of shareclass-level performance, fees and liquidity

Fund screener