| Discretionary Sub‑Advisers |
Principal Strategy | |
| Aperture Investors, LLC | Equity Hedge Strategies | |
| Bayforest Capital Limited | Multi-Strategy Strategies | |
| Bayview Asset Management, LLC | Relative Value Strategies | |
| Blackstone Liquid Credit Strategies LLC | Relative Value Strategies | |
| Blackstone Real Estate Special Situations Advisors L.L.C. | Relative Value Strategies | |
| Caspian Capital LP | Event-Driven Strategies | |
| Clear Sky Advisers, LLC | Macro Strategies | |
| D. E. Shaw Investment Management, L.L.C. | Multi-Strategy Strategies | |
| Endeavour Capital Advisors Inc. | Equity Hedge Strategies | |
| Fir Tree Capital Management LP | Relative Value Strategies | |
| Fort Baker Capital Management LP | Event-Driven Strategies | |
| Jasper Capital Hong Kong Limited | Equity Hedge Strategies | |
| Magnetar Asset Management LLC | Event-Driven Strategies | |
| Mariner Investment Group, LLC | Relative Value Strategies | |
| Melqart Asset Management (UK) Limited | Macro Strategies | |
| Merritt Point Partners LLC | Macro Strategies | |
| Mesarete Capital LLP | Relative Value Strategies | |
| Nephila Capital Ltd. | Event-Driven Strategies | |
| North Reef Capital Management LP | Equity Hedge Strategies | |
| Sage Rock Capital Management LP | Event-Driven Strategies | |
| Seiga Asset Management Limited | Equity Hedge Strategies | |
| Seven Grand Managers LLC | Event-Driven Strategies | |
| TrailStone Commodity Trading US, LLC | Macro Strategies | |
| Two Sigma Advisers, LP | Equity Hedge Strategies | |
| Varick Capital Partners LP | Macro Strategies | |
| Waterfall Asset Management, LLC | Relative Value Strategies |
| Discretionary Sub‑Advisers |
Principal Strategy |
Principal Sub‑Strategy | ||
| Aperture Investors, LLC | Equity Hedge Strategies | Equity Long/Short | ||
| Bayforest Capital Limited | Multi-Strategy Strategies | N/A | ||
| Bayview Asset Management, LLC | Relative Value Strategies | Fixed Income – Asset Backed | ||
| Blackstone Liquid Credit Strategies LLC | Relative Value Strategies | Fixed Income – Asset Backed | ||
| Blackstone Real Estate Special Situations Advisors L.L.C. | Relative Value Strategies | Fixed Income – Asset Backed | ||
| Caspian Capital LP | Event-Driven Strategies | Distressed/Restructuring | ||
| Clear Sky Advisers, LLC | Macro Strategies | Commodity – Energy | ||
| D. E. Shaw Investment Management, L.L.C. | Multi-Strategy Strategies | N/A | ||
| Endeavour Capital Advisors Inc. | Equity Hedge Strategies | Equity Long/Short | ||
| Fir Tree Capital Management LP | Relative Value Strategies | Fixed Income – Corporate | ||
| Fort Baker Capital Management LP | Event-Driven Strategies | Event Driven Multi-Strategy | ||
| Jasper Capital Hong Kong Limited | Equity Hedge Strategies | Quantitative Directional | ||
| Magnetar Asset Management LLC | Event-Driven Strategies | Risk Arbitrage Strategies | ||
| Mariner Investment Group, LLC | Relative Value Strategies | Fixed Income – Asset Backed | ||
| Melqart Asset Management (UK) Limited | Macro Strategies | Discretionary Thematic | ||
| Merritt Point Partners LLC | Macro Strategies | Commodity – Multi | ||
| Mesarete Capital LLP | Relative Value Strategies | Fixed Income – Sovereign | ||
| Nephila Capital Ltd. | Event-Driven Strategies | Reinsurance | ||
| North Reef Capital Management LP | Equity Hedge Strategies | Equity Long/Short | ||
| Sage Rock Capital Management LP | Event-Driven Strategies | Event-Driven Multi-Strategy | ||
| Seiga Asset Management Limited | Equity Hedge Strategies | Equity Long/Short | ||
| Seven Grand Managers LLC | Event-Driven Strategies | Event-Driven Multi-Strategy | ||
| TrailStone Commodity Trading US, LLC | Macro Strategies | Commodity – Energy | ||
| Two Sigma Advisers, LP | Equity Hedge Strategies | Equity Market Neutral | ||
| Varick Capital Partners LP | Macro Strategies | Systematic Diversified | ||
| Waterfall Asset Management, LLC | Relative Value Strategies | Fixed Income – Asset Backed |
| • | Varick Capital Partners LP (“Varick”), located at Amstelplein 1, 1096 HA Amsterdam, The Netherlands, is a commodity trading advisor registered with the CFTC. Varick may manage a portion of the Cayman Subsidiary’s assets using Macro Strategies. Founded in 2021, Varick has approximately $160 million in assets under management as of July 31, 2023. |
Filed pursuant to Rule 497(e)
File Nos. 333-185238 and 811-22743
BLACKSTONE ALTERNATIVE INVESTMENT FUNDS
Supplement dated August 8, 2023 to the
Blackstone Alternative Multi-Strategy Fund (the “Fund”)
Statement of Additional Information, dated July 31, 2023
Addition of Sub-Adviser
Pursuant to action taken by the Board of Trustees of the Fund, Varick Capital Partners LP will serve as a discretionary sub-adviser to the Fund.
Effective immediately, the following disclosure is added to the section “Investment Management and Other Services—The Sub-Advisers” in the Statement of Additional Information:
| • | Varick Capital Partners LP (“Varick”). The principal owner of Varick is Varick GP, LLC, the principal owner of which is Bob Arends. |
Shareholders should retain this Supplement for future reference.