AMENDMENT NO. 3 TO EXPENSE LIMITATION AGREEMENT

Exhibit (k)(11)

AMENDMENT NO. 3 TO

EXPENSE LIMITATION AGREEMENT

This Amendment No. 3 to the Expense Limitation Agreement (this “Amendment”) is entered into by and between BlackRock Advisors, LLC, a Delaware limited liability company (“BlackRock”), and BlackRock Private Investments Fund, a Delaware statutory trust (the “Fund”), effective as of June 13, 2023. Capitalized terms used herein without definition shall have the meanings assigned to such terms in the Agreement (as defined below), as amended to date.

WHEREAS, the Fund and BlackRock have entered into an Expense Limitation Agreement dated February 10, 2021 (the “Agreement”) pursuant to which BlackRock has agreed to maintain expenses of each share class of the Fund at a level below the level to which it would normally be subject;

WHEREAS, pursuant to the Amendment No. 1 to the Agreement, effective as of September 30, 2021, BlackRock agreed to waive a portion of its management fee with respect to the Fund through October 31, 2022;

WHEREAS, pursuant to the Amendment No. 2 to the Agreement, effective as of April 19, 2022, BlackRock agreed to increase the amount of the management fee waiver with respect to the Fund and that such increased fee waiver should continue in effect until July 31, 2023;

WHEREAS, the Fund and BlackRock have determined that it is appropriate and in the best interests of the Fund and its shareholders to extend the current management fee waiver until December 31, 2023;

WHEREAS, the Fund’s Board of Trustees has approved the extension of the fee waiver as being in the best interests of the Fund and its shareholders; and

WHEREAS, the Agreement provides that the Agreement may be amended only by a written agreement signed by each of the parties to which the amendment relates.

NOW, THEREFORE, the parties hereto agree as follows:

1. Section 1.5 of the Agreement is hereby amended to replace the reference therein to “July 31, 2023” with a reference to “December 31, 2023”. Accordingly, all references in the Agreement to the Fee Reduction Period shall be deemed to refer to the period beginning on April 19, 2022 and ending on December 31, 2023.

2. Except to the extent supplemented or amended hereby, the Agreement shall remain unchanged and in full force and effect, and is hereby ratified and confirmed in all respects as supplemented and amended hereby by the Fund.

[Signature Page Follows]

IN WITNESS WHEREOF, the parties have caused this Amendment to be signed by their respective officers thereunto duly authorized as of the day and year first above written.

BLACKROCK PRIVATE INVESTMENTS FUND
By:		/s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
		Name: ▇▇▇▇ ▇▇▇▇▇▇▇▇▇
		Title: President and CEO
BLACKROCK ADVISORS, LLC
By:		/s/ ▇▇▇▇▇ ▇▇▇▇▇▇
		Name: ▇▇▇▇▇ ▇▇▇▇▇▇
		Title: Managing Director

Signature Page to Amendment No. 3 to the Expense Limitation Agreement

of BlackRock Private Investments Fund

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