Blackstone Real Estate Partners V

BlackstoneVINTAGE 2006

NET IRR

10.8%

TVPI

2.01x

DPI

2.01x

COMMITMENT

$100M

LP SOURCES

3

VALUATION SPREAD1.99x – 2.01x TVPI across 2 sources

CROSS-REFERENCE TABLE

LP SOURCE	AS OF	COMMITMENT	PAID IN	NET IRR	TVPI	DPI	DOC
Minnesota SBI	2025-12-31	$100M	$104.2M	10.8%	2.01x	2.01x	SOURCE ↗◆
PA PSERS	2025-09-30	$175.5M	$214.6M	11.0%	1.99x	—	SOURCE ↗◆
MOSERS	2025-06-30	—	—	—	—	—	SOURCE ↗◆