# EDGAR Filing Document

**Accession Number:** 0001557794
**File Stem:** 0001752724-25-138340
**Filing Date:** 2025-6
**Character Count:** 60079
**Document Hash:** 926bfe3bb266b2208e72492f267c169b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-138340.hdr.sgml**: 20250613

**ACCESSION NUMBER**: 0001752724-25-138340

**CONFORMED SUBMISSION TYPE**: N-CEN

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250331

**FILED AS OF DATE**: 20250613

**DATE AS OF CHANGE**: 20250613

**EFFECTIVENESS DATE**: 20250613

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Blackstone Alternative Investment Funds
- **CENTRAL INDEX KEY:** 0001557794

**ORGANIZATION NAME:**
- **EIN:** 300748288
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** N-CEN
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22743
- **FILM NUMBER:** 251046073

**BUSINESS ADDRESS:**
- **STREET 1:** 345 PARK AVENUE
- **STREET 2:** 28TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10154
- **BUSINESS PHONE:** 212-583-5000

**MAIL ADDRESS:**
- **STREET 1:** 345 PARK AVENUE
- **STREET 2:** 28TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10154

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Blackstone Investor Solutions Funds
- **DATE OF NAME CHANGE:** 20120907

## Series and Classes Contracts Data

### Blackstone Alternative Multi-Strategy Fund (Series ID: S000045538)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000141764 | Class I        |  |
| C000145025 | Class D Shares |  |
| C000145026 | Class R Shares |  |
| C000145027 | Class Y Shares |  |

## Internal

**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

To the shareholders of Blackstone Alternative Multi-Strategy Fund and Subsidiaries and the Board of Directors of Blackstone Alternative Investment Funds

In planning and performing our audit of the consolidated financial statements of Blackstone Alternative Multi-Strategy Fund and Subsidiaries, one of the portfolios constituting the Blackstone Alternative Investment Funds (the "Fund"), as of and for the year ended March 31, 2025, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Fund's internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the consolidated financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we express no such opinion.

The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A fund's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A fund's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the fund; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the fund are being made only in accordance with authorizations of management and directors of the fund; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of a fund's assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the fund's annual or interim financial statements will not be prevented or detected on a timely basis.

Our consideration of the Fund's internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Fund's internal control over financial reporting and its operation, including controls for safeguarding securities, that we consider to be a material weakness, as defined above, as of March 31, 2025.

This report is intended solely for the information and use of management and the Board of Directors of the Fund and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

/s/ Deloitte & Touche LLP

New York, New York

May 29, 2025

# Form N-CEN: Annual Report for Registered Investment Companies

## N-CEN: Filer Information
**Submission Type:** N-CEN
**CIK:** 0001557794

## N-CEN: Series/Class (Contract) Information

**Series ID Record:1**
- **Series ID:** S000045538

**Class ID Record:1**
- **Class ID:** C000145027

**Class ID Record:2**
- **Class ID:** C000145026

**Class ID Record:3**
- **Class ID:** C000145025

**Class ID Record:4**
- **Class ID:** C000141764

### N-CEN: Part A: General Information

**Item A.1.a - Report for period ending:** 2025-03-31

**Item A.1.b - Does this report cover a period of less than 12 months?:** No

## N-CEN: Part B: Information About the Registrant

- **Item B.1.a - Full name of Registrant:** Blackstone Alternative Investment Funds

- **Item B.1.b - Investment Company Act file number:** 811-22743

- **Item B.1.c - CIK:** 0001557794

- **Item B.1.d - LEI:** 549300C1ND700M70DR68

- **Item B.2.a - Street 1:** 345 PARK AVENUE

- **Item B.2.a - Street 2:** 15TH FLOOR

- **Item B.2.b - City:** NEW YORK

- **Item B.2.c - State:** NY

- **Item B.2.e - Zip Code:** 10154-0004

- **Item B.2.f - Telephone:** 212-583-5000

- **Item B.2.g - Public Website:** bxmix.blackstone.com

### Item B.3 - Location of books and records

**Location books Record: 1**

- **a. Name of person (e.g., a custodian of records):** Mariner Investment Group, LLC

- **b. Street 1:** 500 Mamaroneck Avenue

- **Street 2:** 4th Floor

- **c. City:** Harrison

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10528

- **g. Telephone number:** 914-670-4300

- **h. Briefly describe the books and records kept at this location:** Records related to its role as a sub-adviser.

**Location books Record: 2**

- **a. Name of person (e.g., a custodian of records):** Blackstone Alternative Investment Advisors LLC

- **b. Street 1:** 345 Park Avenue

- **Street 2:** 15th floor

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10154-0004

- **g. Telephone number:** 212-583-5000

- **h. Briefly describe the books and records kept at this location:** The other books and other documents required to be maintained by the Registrant pursuant to Section 31(a) of the Investment Company Act of 1940 Act

**Location books Record: 3**

- **a. Name of person (e.g., a custodian of records):** Mesarete Capital LLP

- **b. Street 1:** 2/3 Golden Square

- **Street 2:** First floor, Grafton House

- **c. City:** London

- **f. Zip code and zip code extension, or foreign postal code:** W1F 9HR

- **g. Telephone number:** 44-0-203-148-2330

- **h. Briefly describe the books and records kept at this location:** Records related to its role as a sub-adviser.

**Location books Record: 4**

- **a. Name of person (e.g., a custodian of records):** State Street Bank and Trust Company

- **b. Street 1:** One Lincoln Street

- **c. City:** Boston

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02111

- **g. Telephone number:** 617-786-3000

- **h. Briefly describe the books and records kept at this location:** Custody and Accounting Records

**Location books Record: 5**

- **a. Name of person (e.g., a custodian of records):** Fort Baker Capital Management LP

- **b. Street 1:** 700 Larkspur Landing Circle

- **Street 2:** Suite 275

- **c. City:** Larkspur

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 94939

- **g. Telephone number:** 415-306-5508

- **h. Briefly describe the books and records kept at this location:** Records related to its role as a sub-adviser.

**Location books Record: 6**

- **a. Name of person (e.g., a custodian of records):** Oak Thistle LLC

- **b. Street 1:** 160 Greentree Drive

- **Street 2:** Suite 101

- **c. City:** Dover

- **d. State, if applicable:** DE

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 19904

- **g. Telephone number:** 617-308-5935

- **h. Briefly describe the books and records kept at this location:** Records related to its role as a sub-adviser.

**Location books Record: 7**

- **a. Name of person (e.g., a custodian of records):** Melqart Asset Management (UK) Ltd

- **b. Street 1:** 5 St. James's Square

- **c. City:** London

- **f. Zip code and zip code extension, or foreign postal code:** SW1Y 4JU

- **g. Telephone number:** 44 (0)20 3826 4470

- **h. Briefly describe the books and records kept at this location:** Records related to its role as a sub-adviser.

**Location books Record: 8**

- **a. Name of person (e.g., a custodian of records):** Varick Capital Partners, LP

- **b. Street 1:** 1 Amstelplein 1

- **c. City:** Amsterdam

- **f. Zip code and zip code extension, or foreign postal code:** 1096 HA

- **g. Telephone number:** 31 20 333 2620

- **h. Briefly describe the books and records kept at this location:** Records related to its role as a sub-adviser.

**Location books Record: 9**

- **a. Name of person (e.g., a custodian of records):** Merritt Point Partners LLC

- **b. Street 1:** 1999 Harrison Street

- **Street 2:** 18th Floor

- **c. City:** Oakland

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 94612

- **g. Telephone number:** 510-244-0170

- **h. Briefly describe the books and records kept at this location:** Records related to its role as a sub-adviser.

**Location books Record: 10**

- **a. Name of person (e.g., a custodian of records):** Maren Capital LLC

- **b. Street 1:** 401 N. Michigan Ave

- **c. City:** Chicago

- **d. State, if applicable:** IL

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 60611

- **g. Telephone number:** 773-832-7602

- **h. Briefly describe the books and records kept at this location:** Records related to its role as a sub-adviser.

**Location books Record: 11**

- **a. Name of person (e.g., a custodian of records):** Blackstone Real Estate Special Situations Advisors L.L.C.

- **b. Street 1:** 345 Park Avenue

- **Street 2:** 24th Floor

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10154

- **g. Telephone number:** 212-583-5000

- **h. Briefly describe the books and records kept at this location:** Records related to its role as a sub-adviser.

**Location books Record: 12**

- **a. Name of person (e.g., a custodian of records):** Harvest Fund Advisors, LLC

- **b. Street 1:** 100 West Lancaster Avenue

- **Street 2:** 2nd Floor

- **c. City:** Wayne

- **d. State, if applicable:** PA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 19087

- **g. Telephone number:** 610-293-7800

- **h. Briefly describe the books and records kept at this location:** Records related to its role as a sub-adviser.

**Location books Record: 13**

- **a. Name of person (e.g., a custodian of records):** Fir Tree Capital Management LP

- **b. Street 1:** 500 Fifth Avenue

- **Street 2:** 9th Floor

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10110

- **g. Telephone number:** 212-599-0090

- **h. Briefly describe the books and records kept at this location:** Records related to its role as a sub-adviser.

**Location books Record: 14**

- **a. Name of person (e.g., a custodian of records):** North Reef Capital Management LP

- **b. Street 1:** 1833 South Coast Highway

- **Street 2:** Suite 210

- **c. City:** Laguna Beach

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 92651

- **g. Telephone number:** 949-482-2121

- **h. Briefly describe the books and records kept at this location:** Records related to its role as a sub-adviser.

**Location books Record: 15**

- **a. Name of person (e.g., a custodian of records):** Caspian Capital LP

- **b. Street 1:** 10 East 53rd Street

- **Street 2:** 35th floor

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10022

- **g. Telephone number:** 212-826-6970

- **h. Briefly describe the books and records kept at this location:** Records related to its role as a sub-adviser.

**Location books Record: 16**

- **a. Name of person (e.g., a custodian of records):** Seiga Asset Management Limited

- **b. Street 1:** 60 Wyndham Street

- **Street 2:** Suite 2003A, 20/F, The Centrium

- **c. City:** Central and Western District

- **f. Zip code and zip code extension, or foreign postal code:** 999007

- **g. Telephone number:** 852-3705-7700

- **h. Briefly describe the books and records kept at this location:** Records related to its role as a sub-adviser.

**Location books Record: 17**

- **a. Name of person (e.g., a custodian of records):** Bayforest Capital Limited

- **b. Street 1:** 3 Orchard Place

- **Street 2:** Unit 208/209

- **c. City:** London

- **f. Zip code and zip code extension, or foreign postal code:** SW1H 0BF

- **g. Telephone number:** 44-0-203-968-5227

- **h. Briefly describe the books and records kept at this location:** Records related to its role as a sub-adviser.

**Location books Record: 18**

- **a. Name of person (e.g., a custodian of records):** Two Sigma Advisers, LP

- **b. Street 1:** 100 Avenue of the Americas

- **Street 2:** 16th floor

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10013-1689

- **g. Telephone number:** 212-625-5700

- **h. Briefly describe the books and records kept at this location:** Records related to its role as a sub-adviser.

**Location books Record: 19**

- **a. Name of person (e.g., a custodian of records):** Engelhart CTP Commodity Trading US, LLC

- **b. Street 1:** 1601 South MoPac Expressway

- **Street 2:** #D425

- **c. City:** Austin

- **d. State, if applicable:** TX

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 78746

- **g. Telephone number:** 512-628-4300

- **h. Briefly describe the books and records kept at this location:** Records related to its role as a sub-adviser.

**Location books Record: 20**

- **a. Name of person (e.g., a custodian of records):** Blackstone Liquid Credit Strategies LLC

- **b. Street 1:** 345 Park Avenue

- **Street 2:** 31st floor

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10154

- **g. Telephone number:** 212-503-2100

- **h. Briefly describe the books and records kept at this location:** Records related to its role as a sub-adviser.

**Location books Record: 21**

- **a. Name of person (e.g., a custodian of records):** Catalio Capital Management, LP

- **b. Street 1:** 512 W. 22nd Street

- **Street 2:** 5th floor

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10011

- **g. Telephone number:** 410-989-6168

- **h. Briefly describe the books and records kept at this location:** Records related to its role as a sub-adviser.

**Location books Record: 22**

- **a. Name of person (e.g., a custodian of records):** Bayview Asset Management, LLC

- **b. Street 1:** 4425 Ponce de Leon Boulevard

- **c. City:** Coral Gables

- **d. State, if applicable:** FL

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 33146

- **g. Telephone number:** 305-854-8880

- **h. Briefly describe the books and records kept at this location:** Records related to its role as a sub-adviser.

**Location books Record: 23**

- **a. Name of person (e.g., a custodian of records):** Oak Hill Advisors, L.P.

- **b. Street 1:** One Vanderbilt Ave

- **Street 2:** 16th floor

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10017

- **g. Telephone number:** 212-326-1500

- **h. Briefly describe the books and records kept at this location:** Records related to its role as a sub-adviser.

**Location books Record: 24**

- **a. Name of person (e.g., a custodian of records):** Nephila Capital Ltd.

- **b. Street 1:** 31 Victoria Street

- **Street 2:** 3rd floor west

- **c. City:** Hamilton

- **f. Zip code and zip code extension, or foreign postal code:** HM 10

- **g. Telephone number:** 441-296-3626

- **h. Briefly describe the books and records kept at this location:** Records related to its role as a sub-adviser.

**Location books Record: 25**

- **a. Name of person (e.g., a custodian of records):** Seven Grand Managers, LLC

- **b. Street 1:** 81 Ponfield Road

- **Street 2:** Suite C302

- **c. City:** Bronxville

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10708

- **g. Telephone number:** 720-722-5804

- **h. Briefly describe the books and records kept at this location:** Records related to its role as a sub-adviser.

**Location books Record: 26**

- **a. Name of person (e.g., a custodian of records):** D. E. Shaw Investment Management, L.L.C.

- **b. Street 1:** Two Manhattan West

- **Street 2:** 52nd Floor

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10001

- **g. Telephone number:** 212-478-0000

- **h. Briefly describe the books and records kept at this location:** Records related to its role as a sub-adviser.

- **Item B.4.a - Is this the first filing by the Registrant?:** No

- **Item B.4.b - Is this the last filing by the Registrant?:** No

- **Item B.5.a - Is the Registrant part of a family of investment companies?:** Yes

- **Item B.5.a.i - Full name of family of investment companies:** Publicly registered funds managed by Blackstone Alternative Investment Advisors LLC

### Item B.6 - Organization

- [x] a. Open-end management investment company registered under the Act on Form N-1A

- [ ] b. Closed-end management investment company registered under the Act on Form N-2

- [ ] c. Separate account offering variable annuity contracts which is registered under the Act as a management investment company on Form N-3

- [ ] d. Separate account offering variable annuity contracts which is registered under the Act as a unit investment trust on Form N-4

- [ ] e. Small business investment company registered under the Act on Form N-5

- [ ] f. Separate account offering variable insurance contracts which is registered under the Act as a unit investment trust on Form N-6

- [ ] g. Unit investment trust registered under the Act on Form N-8B-2

- **Item B.6.i - Total number of Series:** 1

- **Item B.7 - Is the Registrant the issuer of a class of securities registered under the Securities Act?:** Yes

### Item B.8 - Directors

| Name               | Is Interested Person?   | Other Investment Company File Numbers                                                                                              |
|:---|:---|:---|
| Kristen M. Leopold | No                      | 811-23726, 811-22763, 811-23610, 811-23835, 811-23355, 811-23258, 811-22764, 811-23354, 811-24024, 811-23452, 811-23787, 811-23931 |
| John M. Brown      | No                      | N/A                                                                                                                                |
| Peter Koffler      | Yes                     | N/A                                                                                                                                |
| Paul J. Lawler     | No                      | 811-07762                                                                                                                          |
| Frank J. Coates    | No                      | N/A                                                                                                                                |

### Item B.9. Chief compliance officer.

**Chief compliance officer Record: 1**

- **a. Full Name:** William Renahan

- **b. CRD Number, if any:** 004009328

- **c. Street Address 1:** 345 Park Avenue

- **d. City:** New York

- **e. State, if applicable:** NY

- **f. Foreign country, if applicable:** US

- **g. Zip code:** 10154-0004

- **h. Telephone number:** XXXXXX

- **i. Has the chief compliance officer changed since the last filing?:** No

If the chief compliance officer is compensated or employed by any person other than the Registrant, provide:

**CCO employer Record: 1**

- **i. Name of the person:** —

- **ii. Person’s IRS Employer Identification Number:** —

### Item B.10. Matters for security holder vote.

- **Were any matters submitted by the Registrant for its security holders’ vote during the reporting period?** No

- **Item B.11.a - Have there been any material legal proceedings?:** No

- **Item B.11.b - Has any proceeding previously reported been terminated?:** No

- **Item B.12.a - Were any claims with respect to the Registrant filed under a fidelity bond?:** No

- **Item B.13.a - Are the Registrant's officers or directors covered under any insurance policy?:** Yes

- **Item B.13.a.i - If yes, were any claims filed under the policy during the reporting period?:** No

- **Item B.14 - Did an affiliated person provide any form of financial support to the Registrant?:** No

- **Item B.15.a.i - Release numbers:**
  - IC-32530

### Item B.16. Principal underwriters.

**Principal underwriter Record: 1**

- **i. Full name:** Blackstone Securities Partners L.P.

- **ii. SEC file number:** 8-35941

- **iii. CRD number:** 000017917

- **iv. LEI, if any:** 549300018MESCFYS7O35

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Is the principal underwriter an affiliated person...?:** Yes

- **b. Have any principal underwriters been hired or terminated during the reporting period?** No

### Item B.17. Independent public accountant.

**Public accountant Record: 1**

- **a. Full Name:** Deloitte & Touche LLP

- **b. PCAOB Number:** 34

- **c. LEI, if any:** 254900WYZPGQGKV3RF07

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Has the independent public accountant changed since the last filing?** No

- **Item B.18 - Did an independent public accountant's report on internal control note any material weaknesses?:** No

- **Item B.19 - Did an independent public accountant issue an opinion other than an unqualified opinion?:** No

- **Item B.20 - Have there been material changes in the method of valuation?:** No

- **Item B.21 - Have there been any changes in accounting principles or practices?:** No

- **Item B.22.a - Were any payments made to shareholders as a result of an error in calculating NAV?:** No

## Part C: Additional Questions for Management Investment Companies

### Management Investment Record: 1 - Blackstone Alternative Multi-Strategy Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Blackstone Alternative Multi-Strategy Fund

- **b. Series identification number, if any:** S000045538

- **c. LEI:** 549300L5W5CEUPTA7918

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 4

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class Y Shares          | C000145027                                | BXMYX                        |
|                           2 | Class R Shares          | C000145026                                | BXMRX                        |
|                           3 | Class D Shares          | C000145025                                | BXMDX                        |
|                           4 | Class I Shares          | C000141764                                | BXMIX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** —

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** State Street Bank and Trust Company

- **ii. LEI, if any:** 571474TGEMMWANRLN572

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** —

- **g. Provide the net income from securities lending activities:** —

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 18f-4(d)(ii) (17 CFR 270.18f-4(d)(ii))

- Rule 32a-4 (17 CFR 270.32a-4)

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 18f-4(e) (17 CFR 270.18f-4(e))

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** Yes

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Blackstone Alternative Investment Advisors LLC

- **ii. SEC file number:** 801-77791

- **iii. CRD number:** 000165782

- **iv. LEI, if any:** 549300PB13E20JDP5732

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** Fort Baker Capital Management LP

- **ii. SEC file number:** 801-112796

- **iii. CRD number:** 000282926

- **iv. LEI, if any:** 5493001W8IOWFDUEI397

- **v. Is the sub-adviser an affiliated person?:** No

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 2**

- **i. Full name:** Bayforest Capital Limited

- **ii. SEC file number:** N/A

- **iii. CRD number:** 000312969

- **iv. LEI, if any:** 213800UNLMI22EMVPL14

- **v. Is the sub-adviser an affiliated person?:** No

- **vi. Foreign country, if applicable:** GB

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 3**

- **i. Full name:** Oak Thistle LLC

- **ii. SEC file number:** 801-119515

- **iii. CRD number:** 000299086

- **iv. LEI, if any:** 254900BJT7A3LBW3CH86

- **v. Is the sub-adviser an affiliated person?:** No

**Sub-adviser Record: 4**

- **i. Full name:** Melqart Asset Management (UK) Ltd

- **ii. SEC file number:** 801-126213

- **iii. CRD number:** 000287888

- **iv. LEI, if any:** 213800N4DD1PZ1DKRT27

- **v. Is the sub-adviser an affiliated person?:** No

- **vi. Foreign country, if applicable:** GB

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 5**

- **i. Full name:** Engelhart CTP Commodity Trading US, LLC

- **ii. SEC file number:** N/A

- **iii. CRD number:** N/A

- **iv. LEI, if any:** 549300FMKEEACWXIUC85

- **v. Is the sub-adviser an affiliated person?:** No

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 6**

- **i. Full name:** Mariner Investment Group, LLC

- **ii. SEC file number:** 801-62016

- **iii. CRD number:** 000124744

- **iv. LEI, if any:** NXO6CSBU4HJQCHKIQG96

- **v. Is the sub-adviser an affiliated person?:** No

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 7**

- **i. Full name:** Seiga Asset Management Limited

- **ii. SEC file number:** 801-119246

- **iii. CRD number:** 000288614

- **iv. LEI, if any:** 254900S63VU48Q48G640

- **v. Is the sub-adviser an affiliated person?:** No

- **vi. Foreign country, if applicable:** HK

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 8**

- **i. Full name:** Nephila Capital Ltd.

- **ii. SEC file number:** 801-63514

- **iii. CRD number:** 000132780

- **iv. LEI, if any:** 549300PSKQMT6O8FR185

- **v. Is the sub-adviser an affiliated person?:** No

- **vi. Foreign country, if applicable:** BM

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 9**

- **i. Full name:** Maren Capital LLC

- **ii. SEC file number:** 801-126517

- **iii. CRD number:** 000319626

- **iv. LEI, if any:** 254900E7U33DQ6YTGU05

- **v. Is the sub-adviser an affiliated person?:** No

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 10**

- **i. Full name:** Fir Tree Capital Management LP

- **ii. SEC file number:** 801-73273

- **iii. CRD number:** 000156651

- **iv. LEI, if any:** 549300ASZ9RL8XUHSM58

- **v. Is the sub-adviser an affiliated person?:** No

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 11**

- **i. Full name:** D. E. Shaw Investment Management, L.L.C.

- **ii. SEC file number:** 801-64222

- **iii. CRD number:** 000135284

- **iv. LEI, if any:** 549300ZUDX4FNDGUSO63

- **v. Is the sub-adviser an affiliated person?:** No

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 12**

- **i. Full name:** Varick Capital Partners, LP

- **ii. SEC file number:** N/A

- **iii. CRD number:** N/A

- **iv. LEI, if any:** 254900F9ZPGYUVXP8893

- **v. Is the sub-adviser an affiliated person?:** No

- **vi. Foreign country, if applicable:** NL

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 13**

- **i. Full name:** Harvest Fund Advisors, LLC

- **ii. SEC file number:** 801-71791

- **iii. CRD number:** 000154425

- **iv. LEI, if any:** SC71N3MJZMD0E7IQSQ35

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 14**

- **i. Full name:** Oak Hill Advisors, L.P.

- **ii. SEC file number:** 801-62894

- **iii. CRD number:** 000125352

- **iv. LEI, if any:** 41OEWS9I9GYRDB1SZ042

- **v. Is the sub-adviser an affiliated person?:** No

**Sub-adviser Record: 15**

- **i. Full name:** Merritt Point Partners LLC

- **ii. SEC file number:** N/A

- **iii. CRD number:** 000298680

- **iv. LEI, if any:** 549300QZ4DDOD1RTIL80

- **v. Is the sub-adviser an affiliated person?:** No

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 16**

- **i. Full name:** Two Sigma Advisers, LP

- **ii. SEC file number:** 801-71110

- **iii. CRD number:** 000152254

- **iv. LEI, if any:** RR8XXLLT9L8B1RHYI071

- **v. Is the sub-adviser an affiliated person?:** No

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 17**

- **i. Full name:** North Reef Capital Management LP

- **ii. SEC file number:** 801-126191

- **iii. CRD number:** 000311056

- **iv. LEI, if any:** 549300C1ITJNK5N9N287

- **v. Is the sub-adviser an affiliated person?:** No

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 18**

- **i. Full name:** Bayview Asset Management, LLC

- **ii. SEC file number:** 801-73638

- **iii. CRD number:** 000157053

- **iv. LEI, if any:** 549300YJRSPSK5DWGL35

- **v. Is the sub-adviser an affiliated person?:** No

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 19**

- **i. Full name:** Blackstone Real Estate Special Situations Advisors L.L.C.

- **ii. SEC file number:** 801-68749

- **iii. CRD number:** 000146043

- **iv. LEI, if any:** 549300LUY356596MV847

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 20**

- **i. Full name:** Blackstone Liquid Credit Strategies LLC

- **ii. SEC file number:** 801-68243

- **iii. CRD number:** 000144537

- **iv. LEI, if any:** 5493006JIA0445ZK3987

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 21**

- **i. Full name:** Catalio Capital Management, LP

- **ii. SEC file number:** 801-121976

- **iii. CRD number:** 000310374

- **iv. LEI, if any:** 549300P3CYP9WVN0M608

- **v. Is the sub-adviser an affiliated person?:** No

**Sub-adviser Record: 22**

- **i. Full name:** Seven Grand Managers, LLC

- **ii. SEC file number:** 801-126147

- **iii. CRD number:** 000310026

- **iv. LEI, if any:** 98450047AA5AFF555504

- **v. Is the sub-adviser an affiliated person?:** No

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 23**

- **i. Full name:** Caspian Capital LP

- **ii. SEC file number:** 801-72238

- **iii. CRD number:** 000155751

- **iv. LEI, if any:** 549300A0OBYYG526Q538

- **v. Is the sub-adviser an affiliated person?:** No

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 24**

- **i. Full name:** Mesarete Capital LLP

- **ii. SEC file number:** 801-121562

- **iii. CRD number:** 000314600

- **iv. LEI, if any:** 549300OSEH8QPDJOK061

- **v. Is the sub-adviser an affiliated person?:** No

- **vi. Foreign country, if applicable:** GB

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** State Street Bank and Trust Company

- **ii. SEC file number:** 85-05003

- **iii. LEI, if any:** 571474TGEMMWANRLN572

- **iv. State, if applicable:** MA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** Merrill Lynch Valuations LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 54930015EWCI4VNCZP82

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** State Street Bank and Trust Company

- **ii. LEI, if any, or provide and describe other identifying number:** 571474TGEMMWANRLN572

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 4**

- **i. Full name:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 5**

- **i. Full name:** London Stock Exchange Group PLC

- **ii. LEI, if any, or provide and describe other identifying number:** 213800QAUUUP6I445N30

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 6**

- **i. Full name:** ICE Data Services, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 13-3668779

- **Description of other identifying number:** Tax ID

- **iii. State, if applicable:** GA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 7**

- **i. Full name:** S&P Global Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** Y6X4K52KMJMZE7I7MY94

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** The Hongkong and Shanghai Banking Corporation Limited (Jung-gu, Seoul, KR, Branch)

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 2**

- **i. Full name:** Skandinaviska Enskilda Banken AB (Oslo, Oslo, NO, Branch)

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 3**

- **i. Full name:** State Street Bank and Trust Company

- **ii. LEI, if any:** 571474TGEMMWANRLN572

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 4**

- **i. Full name:** Skandinaviska Enskilda Banken AB

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 5**

- **i. Full name:** UBS Switzerland AG

- **ii. LEI, if any:** 549300WOIFUSNYH0FL22

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 6**

- **i. Full name:** Intesa Sanpaolo S.p.A.

- **ii. LEI, if any:** 2W8N8UU78PMDQKZENC08

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 7**

- **i. Full name:** Mizuho Bank, Ltd. (Minato ku, Tokyo, JP, Branch)

- **ii. LEI, if any:** RB0PEZSDGCO3JS6CEU02

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 8**

- **i. Full name:** Banco de Chile

- **ii. LEI, if any:** 8B4EZFY8IHJC44TT2K84

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 9**

- **i. Full name:** Skandinaviska Enskilda Banken AB (Helsinki, Uusimaa, FI, Branch)

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 10**

- **i. Full name:** Standard Chartered Bank (Johannesburg, Gauteng, ZA, Branch)

- **ii. LEI, if any:** RILFO74KP1CM8P6PCT96

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 11**

- **i. Full name:** State Street Trust Company Canada

- **ii. LEI, if any:** 549300L71XG2CTQ2V827

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 12**

- **i. Full name:** BANCO CITI MEXICO S.A. INSTITUCION DE BANCA MULTIPLE, GRUPO FINANCIERO CITI MEXICO

- **ii. LEI, if any:** 529900H31AYI6WA1J534

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 13**

- **i. Full name:** Citibank, National Association (Singapore, SG, Branch)

- **ii. LEI, if any:** E57ODZWZ7FF32TWEFA76

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 14**

- **i. Full name:** BNP Paribas

- **ii. LEI, if any:** R0MUWSFPU8MPRO8K5P83

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 15**

- **i. Full name:** Clearstream Banking S.A.

- **ii. LEI, if any:** 549300OL514RA0SXJJ44

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)

**Custodians Record: 16**

- **i. Full name:** State Street Bank International GmbH

- **ii. LEI, if any:** ZMHGNT7ZPKZ3UFZ8EO46

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 17**

- **i. Full name:** State Street Bank and Trust Company (Edinburgh, GB, Branch)

- **ii. LEI, if any:** 571474TGEMMWANRLN572

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 18**

- **i. Full name:** Euroclear Bank

- **ii. LEI, if any:** 549300OZ46BRLZ8Y6F65

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)

**Custodians Record: 19**

- **i. Full name:** UniCredit Bank Austria AG

- **ii. LEI, if any:** D1HEB8VEU6D9M8ZUXG17

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 20**

- **i. Full name:** The Hongkong and Shanghai Banking Corporation Limited

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 21**

- **i. Full name:** Skandinaviska Enskilda Banken AB (Copenhagen, Hovedstaden, DK, Branch)

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 22**

- **i. Full name:** Royal Bank of Canada

- **ii. LEI, if any:** ES7IP3U3RHIGC71XBU11

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 23**

- **i. Full name:** The Hongkong and Shanghai Banking Corporation Limited (Sydney, NSW, AU, Branch)

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 24**

- **i. Full name:** Citibank Europe Public Limited Company

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

- **b. Was a custodian hired or terminated during the reporting period?** Yes

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** State Street Bank and Trust Company

- **ii. LEI, if any:** 571474TGEMMWANRLN572

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** No

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** State Street Bank and Trust Company

- **ii. LEI, if any, or other identifying number:** 571474TGEMMWANRLN572

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

No Affiliated Broker-Dealers reported.

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** Jefferies LLC

- **ii. SEC file number:** 8-15074

- **iii. CRD number:** 000002347

- **iv. LEI, if any:** 58PU97L1C0WSRCWADL48

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $393,018.56

**Brokers Record: 2**

- **i. Full name of broker:** Morgan Stanley & Co. LLC

- **ii. SEC file number:** 8-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,707,970.32

**Brokers Record: 3**

- **i. Full name of broker:** BofA Securities, Inc.

- **ii. SEC file number:** 8-69787

- **iii. CRD number:** 000283942

- **iv. LEI, if any:** 549300HN4UKV1E2R3U73

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $635,631.51

**Brokers Record: 4**

- **i. Full name of broker:** J.P. Morgan Securities LLC

- **ii. SEC file number:** 8-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,213,394.53

**Brokers Record: 5**

- **i. Full name of broker:** Citigroup Global Markets Inc.

- **ii. SEC file number:** 8-8177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $391,096.94

**Brokers Record: 6**

- **i. Full name of broker:** UBS Securities LLC

- **ii. SEC file number:** 8-22651

- **iii. CRD number:** 000007654

- **iv. LEI, if any:** T6FIZBDPKLYJKFCRVK44

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $474,944.12

**Brokers Record: 7**

- **i. Full name of broker:** Goldman Sachs & Co. LLC

- **ii. SEC file number:** 8-129

- **iii. CRD number:** 000000361

- **iv. LEI, if any:** FOR8UP27PHTHYVLBNG30

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $763,602.46

**Brokers Record: 8**

- **i. Full name of broker:** Mizuho Securities USA LLC

- **ii. SEC file number:** 8-37710

- **iii. CRD number:** 000019647

- **iv. LEI, if any:** 7TK5RJIZDFROZCA6XF66

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $221,606.95

**Brokers Record: 9**

- **i. Full name of broker:** Nomura Securities International, Inc.

- **ii. SEC file number:** 8-15255

- **iii. CRD number:** 000004297

- **iv. LEI, if any:** OXTKY6Q8X53C9ILVV871

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $212,491.50

**Brokers Record: 10**

- **i. Full name of broker:** RBC Capital Markets, LLC

- **ii. SEC file number:** 8-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $450,757.37

**Aggregate Commission:** $9,861,480.43

**Item C.17.a. Principal transaction counterparties.**

| Name                          | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| HSBC Securities (USA) Inc.    | 8-41562           | 000019585    | CYYGQCGNHMHPSMRL3R97 | NY      | US        | $41,670,058.37            |
| Standard Chartered Bank       | N/A               | N/A          | RILFO74KP1CM8P6PCT96 |  |  | $26,797,873.56            |
| BNP Paribas Securities Corp.  | 8-32682           | 000015794    | RCNB6OTYUAMMP879YW96 | NY      | US        | $32,879,671.11            |
| Citigroup Global Markets Inc. | 8-8177            | 000007059    | MBNUM2BPBDO7JBLYG310 | NY      | US        | $91,834,161.80            |
| Barclays Capital Inc.         | 8-41342           | 000019714    | AC28XWWI3WIBK2824319 | NY      | US        | $116,181,780.02           |
| BofA Securities, Inc.         | 8-69787           | 000283942    | 549300HN4UKV1E2R3U73 | NY      | US        | $17,691,858,890.77        |
| Jefferies LLC                 | 8-15074           | 000002347    | 58PU97L1C0WSRCWADL48 | NY      | US        | $80,737,258.20            |
| Goldman Sachs & Co. LLC       | 8-129             | 000000361    | FOR8UP27PHTHYVLBNG30 | NY      | US        | $354,793,880.93           |
| J.P. Morgan Securities LLC    | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $220,142,452.27           |
| Morgan Stanley & Co. LLC      | 8-15869           | 000008209    | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $13,534,037,987.75        |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $32,360,276,988.62

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $3,720,859,776.92

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $400,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** State Street Bank and Trust Company

- **v. Did the Fund draw on the line of credit this period?** —

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

## N-CEN: Part G: Attachments

**Item G.1a. Attachments.**

Attachments applicable to all Registrants. All Registrants shall file the following attachments, as applicable, with the current report. Indicate the attachments filed with the current report by checking the applicable items below:

- [ ] i. Legal proceedings

- [ ] ii. Provision of financial support

- [x] iii. Independent public accountant's report on internal control (management investment companies other than small business investment companies only)

- [ ] iv. Change in accounting principles and practices

- [ ] v. Information required to be filed pursuant to exemptive orders

- [ ] vi. Other information required to be included as an attachment pursuant to Commission rules and regulations

## N-CEN: Signature

Pursuant to the requirements of the Investment Company Act of 1940, the Registrant has duly caused this report to a be signed on its behalf by the undersigned hereunto duly authorized.

**Registrant:** Blackstone Alternative Investment Funds

**Date:** 2025-06-13

**Signature:** Thomas Procida

**Title:** Treasurer Principal Financial and Accounting Officer