Why Blackstone

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“Our capital enables transactions of all sizes, helps stabilize viable businesses and allows companies to grow while producing attractive returns for our investors.”

Jon Gray

President and Chief Operating Officer of Blackstone

Based on Blackstone analysis of company earnings presentations and calls or latest publicly available data.
Based on Blackstone Credit & Insurance analysis of company earnings presentations and calls and latest publicly available data published by Blackstone Credit & Insurance’s peers.
This represents Blackstone Credit & Insurance’s track record in direct lending, dating back to 2005 before BCRED’s inception.
Based on publicly reported total net assets of both traded and non-traded BDCs.
Direct Lending Deals and Blackstone Credit & Insurance, as of February 9, 2023. Includes Blackstone Credit & Insurance and the rest of the private market. Direct Lending Deals, “Key lenders prep more records for jumbo unitranche loans amid volatility.” December 31, 2023.
Reflects issuers and sponsors across all asset types within Private Corporate Credit, Liquid Corporate Credit, and Infrastructure & Asset Based Credit, excluding FX derivatives and LP interests.
The annualized loss rate represents annualized net losses for substantially realized investments. Whether an investment is substantially realized is determined in the manager’s discretion. Investments are included in the loss rate if (1) a payment was missed, (2) bankruptcy was declared, (3) there was a restructuring, or (4) it was realized with a total multiple on invested capital less than 1.0x. Net losses include all profits and losses associated with these investments, including interest payments received. Net losses are represented in the year the investment is substantially realized and excludes all losses associated with unrealized investments. The annualized net loss rate is the net losses divided by the average annual remaining invested capital within the platform. Investments sourced by Blackstone Credit & Insurance for the Sub-Advised Investments did, in certain cases, experience defaults and losses after Blackstone Credit & Insurance was no longer sub-adviser, and such defaults and losses are not included in the rates provided. Prior to December 31, 2022, the methodology used by the North America Direct Lending track record for calculating the platform’s average annual loss rate was based on net loss of principal resulting only from payment defaults in the year of default which would exclude interest payments. Past performance does not predict future returns, and there can be no assurance that Blackstone Credit & Insurance will achieve comparable results or that any entity or account managed by or advised by Blackstone Credit & Insurance will be able to implement its investment strategy or achieve its investment objectives.
Figures are presented for illustrative purposes and include underlying information provided by third parties. They do not reflect actual cost savings or realized proceeds to BXCI, a fund, or to the equity sponsor or the company, and there can be no assurance that cost savings or realized proceeds received by Blackstone or any investor in a Blackstone fund will be increased as a result. Numbers presented are calculated since inception of the Value Creation program in 2016. Figures presented are based on data reported by portfolio companies and assets and not from financial statements of portfolio companies. While the data reported by portfolio companies and assets is believed to be reliable for purposes used herein, it is subject to change, and Blackstone has not fully verified, and does not assume responsibility for, the accuracy or completeness of this information. Represents the sum of (a) estimated identified total cost reduction opportunities at the time cost is benchmarked with portfolio companies (see footnote 2 for additional details) multiplied by the average enterprise value multiple across the portfolio, by finding the mean of the enterprise value multiples at time of BXCI’s initial investments, and (b) total revenue from introductions across Blackstone portfolio companies multiplied by EBITDA margin and multiple at investment of the portfolio company, with the exception of significantly longer term projects (projects that are greater than or equal to 10 years in project duration) in which total revenue is multiplied by EBITDA margin. Estimates assume revenue enhancements and costs savings directly improve enterprise value or EBITDA margins and that such revenue gains or cost savings will endure for the period of time implied by multiples.
Awarded by Private Debt Investor on March 1, 2022, covering the 2021 calendar year, on March 1, 2023, covering the 2022 calendar year, and on March 1, 2024, covering the 2023 calendar year. Blackstone has provided compensation to Private Debt Investor for the ability to communicate the results of this award. Blackstone Credit & Insurance won Americas BDC Manager of the Year in 2021, but did not win this award in 2022 or 2023. Blackstone Credit & Insurance won Global Fund Manager of the Year in 2021 and 2023, but did not win this award in 2022. Blackstone Credit & Insurance won Americas Deal of the Year in 2021, but did not win this award in 2022 or 2023. Blackstone won Global CLO Manager of the Year in 2021, but did not win this award in 2022 or 2023. Blackstone won Global Responsible Investor of the Year in 2021 and 2022, but did not win this award in 2023. Blackstone Credit & Insurance won Americas Junior Lender of the Year in 2023, but did not win this award in 2021 or 2022. The following were awarded to Blackstone Credit & Insurance for the European region: Europe Lender of the Year 2022 (did not win in 2021 or 2023) and Europe Junior Lender of the Year 2022 (did not win in 2021 or 2023). The awards described above may not be representative of any one client’s experience with Blackstone Credit & Insurance and past performance does not predict future returns. The awards herein were provided by Private Debt Investor, a publication addressing private credit markets, and cover the 2021, 2022, and 2023 calendar years. Private Debt Investor determines its industry awards annually by way of nominations and an online reader poll that prompts readers to vote for a particular firm in one or more of multiple enumerated categories, including those shown above and therefore is based on subjective criteria. In addition, their selection to receive the awards and/or their rankings may have been based on a limited universe of participants, and therefore there can be no assurance that a different sampling of participants might not have achieved different results. For the avoidance of doubt, references in this section to information about Blackstone Credit & Insurance from December 31, 2023 or prior refer solely to the Blackstone Credit BDC Advisors LLC and Blackstone Alternative Credit Advisors LP, collectively with their credit-focused affiliates within Blackstone Credit & Insurance.
Awarded by Money Management Institute (“MMI”) /Barron’s on October 17, 2024, for the period dated June 2023 – June 2024. The award described above may not be representative of any one client’s experience with Blackstone, and past performance does not predict future returns. The award herein was provided by MMI, an industry association representing financial services firms that provide financial advice and investment advisory solutions to investors, and Barron’s, a publication that reports on investing and the financial sector. Per MMI, the awards recognize companies that demonstrate leadership in advancing advisory solutions for investors and financial advisors. The criteria for awards provided by MMI/Barron’s including the award shown above may be based on subjective criteria, and are not intended to be, nor should they be construed as or relied upon as, any indication of future performance or other future activity. In addition, their selection to receive the awards and/or their rankings may have been based on a limited universe of participants, and therefore there can be no assurance that a different sampling of participants might not have achieved different results.

Important Disclosure Information

Data is as of March 31, 2025, unless otherwise indicated. Investing involves risks, including loss of capital. Past performance does not predict future returns and there can be no assurance that the fund will achieve results to those of any of Blackstone Credit & Insurance’s prior funds or be able to implement its strategy or achieve its investment objectives, including due to an inability to access sufficient investment opportunities.