Blackstone Alternative Multi-Strategy Y (Blackstone Alternative Multi-St) fond

The fund seeks to achieve its objective by allocating its assets among a variety of non-traditional or "alternative" investment strategies. The adviser allocates the fund's assets among sub-advisers with experience managing alternative investment strategies and among investment funds. The adviser also manages a portion of the fund's assets directly and, from time to time, may instruct sub-advisers with respect to particular investments.