0001145549-22-036588.txt : 20220613 0001145549-22-036588.hdr.sgml : 20220613 20220613153007 ACCESSION NUMBER: 0001145549-22-036588 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20220331 FILED AS OF DATE: 20220613 DATE AS OF CHANGE: 20220613 EFFECTIVENESS DATE: 20220613 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Hedge Fund Guided Portfolio Solution CENTRAL INDEX KEY: 0001833936 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-23626 FILM NUMBER: 221011503 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800 882 0052 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 N-CEN 1 primary_doc.xml X0404 N-CEN LIVE 0001833936 XXXXXXXX true false false N-2 BlackRock Hedge Fund Guided Portfolio Solution 811-23626 0001833936 549300OF4HWLLO1I9Y24 100 Bellevue Parkway Wilmington 19809 US-DE US 8008820052 BlackRock Investments, LLC 40 East 52nd Street New York 10022 6092823046 Records related to its functions as distributor BlackRock Advisors, LLC 100 Bellevue Parkway Wilmington 19809 3027972000 Records related to its functions as advisor and administrator The Bank of New York Mellon 240 Greenwich Street New York 10286 2124951784 Records related to its functions as custodian. BNY Mellon Investment Servicing (US) Inc. 301 Bellevue Parkway Wilmington 19809 3027911700 Records related to its functions as transfer agent, sub-administrator and accounting agent. N N N-2 Y John M. Perlowski N/A Y Robert Fairbairn 004992372 Y Catherine A. Lynch N/A N W. Carl Kester N/A N R. Glenn Hubbard N/A N Frank J. Fabozzi N/A N Cynthia L. Egan N/A N Stayce D. Harris N/A N Karen P. Robards N/A N Lorenzo A. Flores N/A N J. Phillip Holloman N/A N Charles Park N/A 55 East 52nd Street New York 10055 XXXXXX N N N N N N N Deloitte & Touche LLP 34 N/A N N N N N N BlackRock Hedge Fund Guided Portfolio Solution 549300OF4HWLLO1I9Y24 N N/A Y N Y N BlackRock Investment Management, LLC 5493006MRTEZZ4S4CQ20 Y N Revenue sharing split Cash collateral reinvestment fee Other Rebates paid to borrowers N/A N/A Rule 12d1-1 (17 CFR 270.12d1-1) Rule 22d-1 (17 CFR 270.22d-1) Rule 32a-4 (17 CFR 270.32a-4) Y Y Y N BlackRock Advisors, LLC 801-47710 N/A 5493001LN9MRM6A35J74 N BNY Mellon Investment Servicing (US) Inc. 84-01761 549300CFZQLI9QMJ1Z03 N N N N The Bank of New York Mellon N/A N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N N BlackRock Advisors, LLC 5493001LN9MRM6A35J74 Y N BNY Mellon Investment Servicing (US) Inc. 549300CFZQLI9QMJ1Z03 N Y N BlackRock Execution Services 8-48719 000039438 549300HFCRQ0NT5KY652 0.000000000000 BlackRock Investments, LLC 8-48436 000038642 54930061FBHCKXL2G714 0.000000000000 0.000000000000 0.000000000000 N 39397610.960000000000 Common stock Class I Shares Common stock Class A Shares N N Common stock N N N 0.550000000000 1.450000000000 N/A 10.140000000000 true INTERNAL CONTROL RPT 2 internalcontrolrpt_brfhgps.htm INTERNAL CONTROL REPORT

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders and Board of Trustees of BlackRock Hedge Fund Guided Portfolio Solution:

In planning and performing our audit of the financial statements of BlackRock Hedge Fund Guided Portfolio Solution (the “Fund”) as of and for the year ended March 31, 2022, 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 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 company'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 company'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 company; (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 company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of a company'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 company’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, 2022.

This report is intended solely for the information and use of management and the Board of Trustees 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.

Deloitte & Touche LLP

Boston, Massachusetts

May 20, 2022