Blackstone Receives Order on Novel Exemptive Application under the 1940 Act

On February 19, 2020, the SEC issued an order granting an application for exemptive relief filed by Blackstone Alternative Investment Funds (Blackstone Trust) and Blackstone Alternative Investment Advisors LLC. The exemptive relief permits the Blackstone Trust’s board of trustees to approve new sub-advisory agreements and material amendments to existing sub-advisory agreements without complying with the in-person meeting requirement of Section 15(c) of the 1940 Act, so long as board members can hear each other during the meeting. The relief would not apply to advisory agreements.

The notice is available at: Click Here and the order is available at: Click Here