A comprehensive experimental investigation of a particle-laden, liquid-continuous flow at a high Reynolds number (Re = 320 000). The turbulence modulation of the liquid phase was negligible at the tested conditions. Turbulence modulation of the liquid phase is directly related to the ratio of the particle terminal settling velocity to the bulk liquid velocity (Vt/Ub). The both radial and axial fluctuating velocities of the particles are larger than those of liquid phase at the tested conditions.