Blackstone Alternative Multi-Manager Fund

Investment Objective

The investment objective of Blackstone Alternative Multi-Manager Fund (the “Fund”) is to seek capital appreciation.

Investment Approach

The Fund seeks to achieve its investment objective by allocating the Fund’s assets among a variety of non-traditional or “alternative” investment strategies. Blackstone will allocate the Fund’s assets among investment sub-advisers with experience managing alternative investment strategies and among investment funds. It may also manage a portion of the Fund’s assets directly.