Blackstone Private Credit Fund Increases Monthly Distribution

August 3, 2023

NEW YORK – (BUSINESS WIRE) – Blackstone Private Credit Fund (“BCRED”) today announced the increase of its regular monthly distribution from $0.2100 per share to $0.2200 per share, which represents a 10.6% annualized distribution yield (for Class I Common Shares¹ based on the June 30, 2023 net asset value (“NAV”) per share of $24.86. BCRED’s Board of Trustees (the “Board”) approved the increase in distribution, which will become effective for the August 2023 monthly distribution with the record date of August 31, 2023 and will be paid on or about September 27, 2023.

This announcement comes on the heels of BCRED’s recent regular monthly distribution increases from $0.1900 to $0.2100 per share for Class I Common Shares, announced on December 5, 2022, and from $0.1740 to $0.1900 per share for Class I Common Shares, announced on September 7, 2022.² These recent regular monthly distribution increases are driven by the continued growth of BCRED’s earnings power, which is positively impacted by higher base interest rates and wider deal spreads. BCRED’s earnings power is supported by what we believe is BCRED’s quality portfolio that is 97% senior secured debt³ with an average loan-to-value of 43%,⁴ providing ample cushion to protect principal.

With 98% of BCRED’s portfolio invested in floating rate debt,³ BCRED believes this creates an opportunity to increase regular distributions to more appropriately align with BCRED’s earnings power.

About Blackstone Credit
Blackstone Credit is one of the world’s largest credit-focused asset managers, with $295 billion in assets under management. We seek to generate risk-adjusted returns for our clients by investing across the entire corporate credit market, from public debt to private loans. Our capital supports a wide range of companies across sectors and geographies, enabling businesses to expand, invest, and navigate changing market environments.

About Blackstone Private Credit Fund
BCRED is Blackstone’s non-listed business development company (“BDC”). Leveraging Blackstone’s institutional-caliber investment approach, BCRED aims to provide income-focused individual investors access to private credit in a continuously offered fund structure. It is part of Blackstone Credit’s $100 billion direct lending platform, which provides privately originated, senior secured, floating rate loans to North American and European companies. BCRED is externally managed by a subsidiary of Blackstone (NYSE: BX), a global leader in credit investing.

Forward-Looking Statements
Certain information contained in this communication constitutes “forward-looking statements” within the meaning of the federal securities laws and the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by the use of forward-looking terminology, such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “can,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates”, “confident,” “conviction,” “identified” or the negative versions of these words or other comparable words thereof. These may include financial projections and estimates and their underlying assumptions, statements about plans, objectives and expectations with respect to future operations, statements regarding future performance, statements regarding economic and market trends and statements regarding identified but not yet closed investments. Such forward-looking statements are inherently uncertain and there are or may be important factors that could cause actual outcomes or results to differ materially from those indicated in such statements. BCRED believes these factors also include but are not limited to those described under the section entitled “Risk Factors” in its prospectus, and any such updated factors included in its periodic filings with the Securities and Exchange Commission (the “SEC”), which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this document (or BCRED’s prospectus and other filings). Except as otherwise required by federal securities laws, BCRED undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

Contact
Mariel Seidman-Gati
[email protected]
+1 917-698-1674

Blackstone Expands Leadership Team in Growing Private Credit Business

January 10, 2023

NEW YORK – Blackstone (NYSE: BX) today announced that Brad Marshall, who has been leading the firm’s direct lending efforts for nearly 17 years, has been promoted to Global Head of Private Credit Strategies (PCS), adding to his role as Chairman and co-CEO of the firm’s two business development companies (BDCs), Blackstone Private Credit Fund (BCRED) and Blackstone Secured Lending Fund (NYSE: BXSL). Jonathan Bock, formerly the CEO of Barings BDC and a top ranked Equity Analyst at Wells Fargo, has joined the firm to serve alongside Brad as Co-CEO of the firm’s BDCs.

The new leadership roles correspond with the significant expansion of Blackstone Credit, where total assets under management have grown 135% over the past five years to $234 billion. PCS makes up approximately half of Blackstone Credit’s business today and includes the BDCs.

Dwight Scott, Global Head of Blackstone Credit, said: “Blackstone Credit and our BDCs have seen extraordinary growth over the past five years. Elevating Brad and adding Jonathan to our leadership team will help us continue to meet the strong customer demand for private credit strategies globally. Our BDC portfolios have broad exposure across sectors, comprising primarily senior secured, floating rate debt, and we believe they are well positioned for the current environment.”

Brad Marshall said: “Jonathan is a long-time friend and an exceptional thought leader in the BDC space, and I’m delighted to have his partnership as we continue to expand our business. Blackstone Credit’s tremendous growth in the last five years, when combined with the secular shift towards private credit and a very attractive market opportunity today, create a platform design that will benefit from Jonathan’s knowledge and experience.”

Jonathan Bock added: “Blackstone is a global leader in private credit and a company I’ve long admired. I’m excited to join the world-class team and help build on the successful platform they’ve created.”

Jonathan Bock
Prior to joining Blackstone, Jonathan was CEO of Barings BDC. In addition to this role, he served as Co-CEO and President of Barings Private Credit Corporation, and Chief Financial Officer of Barings Capital Investment Corporation, Barings Corporate Investors, and Barings Participation Investors. Prior to joining Barings in July 2018, Jonathan was a Managing Director and Senior Equity Analyst at Wells Fargo Securities specializing in BDCs. He has actively followed the BDC space since 2006 and was the chief author of a leading BDC quarterly research publication: the BDC Scorecard. Jonathan holds a bachelor’s degree in finance from the University of Illinois College of Business and is a member of the CFA Institute.

About Blackstone Credit
Blackstone Credit is one of the world’s largest credit-focused asset managers, with $234 billion in AUM. We seek to generate attractive risk-adjusted returns for our clients by investing across the entire corporate credit market, from public debt to private loans. Our capital supports a wide range of companies across sectors and geographies, enabling businesses to expand, invest, and navigate changing market environments.

Contact
Kate Holderness, Blackstone
[email protected]
646-482-8774

Blackstone Private Credit Fund Increases Monthly Distribution

December 5, 2022

NEW YORK – (BUSINESS WIRE) – Blackstone Private Credit Fund (“BCRED”) today announced the increase of its regular monthly distribution from $0.1900 per share to $0.2100 per share, which represents a 10.2% annualized distribution yield (for Class I Common Shares)^{[ 1 ]} based on the October NAV per share of $24.60. BCRED’s Board of Trustees (the “Board”) approved the increase in distribution, which will become effective for the December 2022 monthly distribution with the record date of December 30, 2022 and will be paid on or about January 27, 2023.

This announcement comes on the heels of BCRED’s regular monthly distribution increase from $0.1740 per share to $0.1900 per share for Class I Common Shares, announced on September 7, 2022, and the recent special distribution of $0.07 paid in September 2022.^{[ 2 ]} These monthly distribution increases are driven by increases in BCRED’s earnings power, which is positively impacted by rising interest rates, the quality of its portfolio, as well as widening spreads resulting from public credit market dislocation.

With nearly 100% of BCRED’s portfolio invested in floating rate debt, BCRED believes this creates an opportunity to increase regular distributions to more appropriately align with BCRED’s earnings power.

About Blackstone Credit
Blackstone Credit is one of the world’s largest credit-focused asset managers, with $234 billion in assets under management. We seek to generate risk-adjusted returns for our clients by investing across the entire corporate credit market, from public debt to private loans. Our capital supports a wide range of companies across sectors and geographies, enabling businesses to expand, invest, and navigate changing market environments.

About Blackstone Private Credit Fund
BCRED is Blackstone’s non-listed business development company (“BDC”). Leveraging Blackstone’s institutional-caliber investment approach, BCRED aims to provide income-focused individual investors access to private credit in a continuously offered fund structure. It is part of Blackstone Credit’s $89 billion direct lending platform, which provides privately originated, senior secured, floating rate loans to U.S. and European companies. BCRED is externally managed by a subsidiary of Blackstone (NYSE: BX), a global leader in credit investing.

Forward-Looking Statements
Certain information contained in this communication constitutes “forward-looking statements” within the meaning of the federal securities laws and the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by the use of forward-looking terminology, such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “can,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates”, “confident,” “conviction,” “identified” or the negative versions of these words or other comparable words thereof. These may include financial projections and estimates and their underlying assumptions, statements about plans, objectives and expectations with respect to future operations, statements regarding future performance, statements regarding economic and market trends and statements regarding identified but not yet closed investments. Such forward-looking statements are inherently uncertain and there are or may be important factors that could cause actual outcomes or results to differ materially from those indicated in such statements. BCRED believes these factors also include but are not limited to those described under the section entitled “Risk Factors” in its prospectus, and any such updated factors included in its periodic filings with the Securities and Exchange Commission (the “SEC”), which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this document (or BCRED’s prospectus and other filings). Except as otherwise required by federal securities laws, BCRED undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

Contact
Mariel Seidman-Gati
[email protected]
+1 917-698-1674

Blackstone Credit Increases Regular Distributions for BDCs

September 7, 2022

Blackstone Private Credit Fund (BCRED) to increase monthly distribution to $0.19 per share (for Class I Common Shares)^{[ 1 ]}

Blackstone Secured Lending Fund (NYSE: BXSL) to increase quarterly distribution to $0.60 per share

NEW YORK – (BUSINESS WIRE) – Blackstone Credit today announced the increases of the regular distributions of Blackstone Private Credit Fund (BCRED) and Blackstone Secured Lending Fund (NYSE: BXSL), its business development companies (BDCs). BCRED and BXSL are part of the direct lending platform within Blackstone’s $265 billion AUM^{[ 2 ]} across Blackstone Credit & Insurance Strategies, the firm’s fastest growing segment.

The regular distribution increases are driven by BCRED and BXSL’s strong earnings, the quality of their respective portfolios and the positive impact from rising interest rates. With nearly 100% of the portfolios invested in floating rate debt which benefits from rising rates, and BCRED and BXSL’s low fee structures, BCRED and BXSL believe this creates an opportunity to raise their regular distributions to more appropriately align with their earnings power.

Blackstone Private Credit Fund Increase in Monthly Distribution

BCRED will increase its regular monthly distribution from $0.1740 per share to $0.1900 per share, which represents a 9.1% annualized distribution yield for Class I Common Shares^{[ 1 ]} based on the July NAV per share of $25.02. BCRED’s Board of Trustees approved the increase in distribution, which will become effective for the October 2022 monthly distribution with the record date of October 31, 2022 and will be paid on or about November 29, 2022. BCRED also declared its regular monthly distribution in the amount of $0.1740 per share for Class I Common Shares^{[ 3 ]} with a record date of September 30, 2022, payable on or about October 26, 2022.

Blackstone Secured Lending Fund Increase in Quarterly Distribution

BXSL will increase its regular quarterly distribution from $0.53 per share to $0.60 per share, which represents a 9.3% annualized distribution yield based on second quarter NAV per share of $25.89. BXSL’s Board of Trustees approved the increase in distribution, which will become effective in the third quarter of 2022 and apply to the previously declared quarterly distribution to shareholders of record as of September 30, 2022, payable on November 14, 2022.

About Blackstone Private Credit Fund
Blackstone Private Credit Fund (BCRED) is Blackstone’s non-listed business development company (BDC). Leveraging Blackstone’s institutional-caliber investment approach, BCRED aims to provide income-focused individual investors access to private credit in a continuously offered fund structure. It is part of Blackstone Credit’s $83 billion direct lending platform, which provides privately originated, senior secured, floating rate loans to U.S. and European companies. BCRED is externally managed by a subsidiary of Blackstone (NYSE: BX), a global leader in credit investing.

About Blackstone Secured Lending Fund
Blackstone Secured Lending Fund (NYSE:BXSL) is a specialty finance company that invests primarily in the debt of private US companies. As of June 30, 2022, BXSL’s fair value of investments was $10.1 billion. BXSL has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. BXSL is externally managed by Blackstone Credit BDC Advisors LLC, an SEC-registered investment adviser that is an affiliate of Blackstone Inc. Blackstone Inc., together with its subsidiaries, is the world’s largest alternative investment firm with $941 billion of assets under management as of June 30, 2022.

About Blackstone Credit
Blackstone Credit is one of the world’s largest credit-focused asset managers, with $265 billion in AUM2 across Blackstone Credit & Insurance Strategies. We seek to generate attractive risk-adjusted returns for our clients by investing across the entire corporate credit market, from public debt to private loans. Our capital supports a wide range of companies across sectors and geographies, enabling businesses to expand, invest, and navigate changing market environments.

Forward-Looking Statements
Certain information contained in this communication constitutes “forward-looking statements” within the meaning of the federal securities laws and the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by the use of forward-looking terminology, such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “can,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates”, “confident,” “conviction,” “identified” or the negative versions of these words or other comparable words thereof. These may include financial estimates and their underlying assumptions, statements about plans, objectives and expectations with respect to future operations, statements regarding future performance, statements regarding economic and market trends and statements regarding identified but not yet closed investments. Such forward-looking statements are inherently uncertain and there are or may be important factors that could cause actual outcomes or results to differ materially from those indicated in such statements. BCRED and BXSL believe these factors also include but are not limited to those described under the section entitled “Risk Factors” included in their respective periodic filings with the Securities and Exchange Commission (the “SEC”) and (in the case of BCRED) in its prospectus, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this document (or BCRED’s or BXSL’s filings). Except as otherwise required by federal securities laws, BCRED and BXSL undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

Contact
Mariel Seidman-Gati
[email protected]
+1 917-698-1674

Blackstone Private Credit Fund Special Dividend to be Issued at $0.07 per Share

JulY 20, 2022

NEW YORK – (BUSINESS WIRE) – Blackstone Private Credit Fund (BCRED or the “Fund”) today announced that due to strong earnings and the positive impact from rising interest rates, its previously declared special distribution of $0.05 per share plus additional estimated undistributed net investment income in excess of $0.05 per share available as of the record date for the distribution will be set at $0.07 per share for each class of the Fund’s shares. The Fund’s Board of Trustees declared the special distribution, which will be available as of the record date of August 21, 2022 and will be paid on or about September 1, 2022.

About Blackstone Private Credit Fund
Blackstone Private Credit Fund (BCRED) is Blackstone’s non-listed business development company (BDC). Leveraging Blackstone’s institutional-caliber investment approach, BCRED aims to provide income-focused individual investors access to private credit in a continuously offered fund structure. It is part of Blackstone Credit’s $74 billion direct lending platform, which provides privately originated, senior secured, floating rate loans to U.S. and European companies. BCRED is externally managed by a subsidiary of Blackstone (NYSE: BX), a global leader in credit investing.

About Blackstone Credit
Blackstone Credit is one of the world’s largest credit-focused asset managers, with $230 billion in AUM. We seek to generate attractive risk-adjusted returns for our clients by investing across the entire corporate credit market, from public debt to private loans. Our capital supports a wide range of companies across sectors and geographies, enabling businesses to expand, invest, and navigate changing market environments.

Forward-Looking Statements
Certain information contained in this communication constitutes “forward-looking statements” within the meaning of the federal securities laws and the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by the use of forward-looking terminology, such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “can,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates”, “confident,” “conviction,” “identified” or the negative versions of these words or other comparable words thereof. These may include financial projections and estimates and their underlying assumptions, statements about plans, objectives and expectations with respect to future operations, statements regarding future performance, statements regarding economic and market trends and statements regarding identified but not yet closed investments. Such forward-looking statements are inherently uncertain and there are or may be important factors that could cause actual outcomes or results to differ materially from those indicated in such statements. BCRED believes these factors also include but are not limited to those described under the section entitled “Risk Factors” in its prospectus, and any such updated factors included in its periodic filings with the Securities and Exchange Commission (the “SEC”), which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this document (or BCRED’s prospectus and other filings). Except as otherwise required by federal securities laws, BCRED undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

Contact
Mariel Seidman-Gati
[email protected]
+1 917-698-1674

Blackstone Private Credit Fund Declares Special Dividend

June 27, 2022

NEW YORK – (BUSINESS WIRE) – Blackstone Private Credit Fund (BCRED or the “Fund”) today announced that due to strong earnings and the positive impact from rising interest rates, its Board of Trustees has declared a special distribution of the Fund’s excess undistributed net investment income for each class of the Fund’s shares. The special distribution will be in the amount of $0.05 per share plus the estimated undistributed net investment income in excess of $0.05 per share available as of the record date of August 21, 2022 (the “Record Date”) and will be paid on or about September 1, 2022. The estimated undistributed net investment income and the precise amount of the special distribution will be determined closer to the Record Date.

About Blackstone Private Credit Fund
Blackstone Private Credit Fund (BCRED) is Blackstone’s non-listed business development company (BDC). Leveraging Blackstone’s institutional-caliber investment approach, BCRED aims to provide income-focused individual investors access to private credit in a continuously offered fund structure. It is part of Blackstone Credit’s $74 billion direct lending platform, which provides privately originated, senior secured, floating rate loans to U.S. and European companies. BCRED is externally managed by a subsidiary of Blackstone (NYSE: BX), a global leader in credit investing.

About Blackstone Credit
Blackstone Credit is one of the world’s largest credit-focused asset managers, with $230 billion in AUM. We seek to generate attractive risk-adjusted returns for our clients by investing across the entire corporate credit market, from public debt to private loans. Our capital supports a wide range of companies across sectors and geographies, enabling businesses to expand, invest, and navigate changing market environments.

Forward-Looking Statements
Certain information contained in this communication constitutes “forward-looking statements” within the meaning of the federal securities laws and the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by the use of forward-looking terminology, such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “can,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates”, “confident,” “conviction,” “identified” or the negative versions of these words or other comparable words thereof. These may include financial projections and estimates and their underlying assumptions, statements about plans, objectives and expectations with respect to future operations, statements regarding future performance, statements regarding economic and market trends and statements regarding identified but not yet closed investments. Such forward-looking statements are inherently uncertain and there are or may be important factors that could cause actual outcomes or results to differ materially from those indicated in such statements. BCRED believes these factors also include but are not limited to those described under the section entitled “Risk Factors” in its prospectus, and any such updated factors included in its periodic filings with the Securities and Exchange Commission (the “SEC”), which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this document (or BCRED’s prospectus and other filings). Except as otherwise required by federal securities laws, BCRED undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

Contact
Mariel Seidman-Gati
[email protected]
+1 917-698-1674

Abby Miller Appointed as Chief Accounting Officer and Treasurer of Blackstone Credit BDCs

May 24, 2022

NEW YORK – Blackstone Credit today announced the appointment of Abby Miller as Chief Accounting Officer and Treasurer of Blackstone Private Credit Fund (BCRED) and Blackstone Secured Lending Fund (BXSL), its business development companies (BDCs). BCRED and BXSL are part of the direct lending platform within Blackstone’s $230 billion credit business, the firm’s fastest growing segment.

Ms. Miller brings more than 15 years of accounting and audit experience, predominantly within large financial services institutions. She joins Blackstone Credit from BlackRock, where she most recently served as Chief Financial Officer and Treasurer of its BDC, BlackRock Capital Investment Corporation.

Commenting on the appointment, Brad Marshall, Head of North America Private Credit at Blackstone and CEO and Chair of the Board of Trustees of both BCRED and BXSL, said: “Abby’s tremendous finance and accounting experience and deep private and public markets expertise will be extremely additive to the operations of our BDCs. We’re thrilled to welcome her to the team.”

Abby Miller added: “The Blackstone Credit team has built an exceptional direct lending platform that not only supports the growth of high-caliber private companies through its capital, resources and scale but is expanding access to the private credit asset class for a broader range of income-focused investors. I look forward to contributing to the continued expansion of the business.”

Prior to joining BlackRock in 2017, Ms. Miller was Executive Director, Accounting Policy and Quality Assurance at Rabobank, North America Region and previously served as Assistant Controller of Rabobank’s North America Wholesale Business. She has held various controllership roles at financial services institutions including Fortress Investment Group and MUFG Americas, having started her career as an auditor at EY. Ms. Miller earned a bachelor’s degree in accounting and finance from Binghamton University’s School of Management.

About Blackstone Private Credit Fund
Blackstone Private Credit Fund (BCRED) is Blackstone’s non-listed business development company (BDC). Leveraging Blackstone’s institutional-caliber investment approach, BCRED aims to provide income-focused individual investors access to private credit in a continuously offered fund structure. It is part of Blackstone Credit’s $74 billion direct lending platform, which provides privately originated, senior secured, floating rate loans to U.S. and European middle market companies. BCRED is externally managed by a subsidiary of Blackstone (NYSE: BX), a global leader in credit investing.

About Blackstone Secured Lending Fund
Blackstone Secured Lending Fund (NYSE:BXSL) is a specialty finance company that invests primarily in the debt of private U.S. companies. As of March 31, 2022, BXSL’s fair value of investments was approximately $10.0 billion. BXSL has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. BXSL is externally managed by Blackstone Credit BDC Advisors LLC, an SEC-registered investment adviser that is an affiliate of Blackstone Inc. Blackstone Inc. (formerly, The Blackstone Group, Inc.), together with its subsidiaries, is the world’s largest alternative investment firm with approximately $915 billion of assets under management as of March 31, 2022.

About Blackstone Credit
Blackstone Credit is one of the world’s largest credit-focused asset managers, with $230 billion in AUM. We seek to generate attractive risk-adjusted returns for our clients by investing across the entire corporate credit market, from public debt to private loans. Our capital supports a wide range of companies across sectors and geographies, enabling businesses to expand, invest, and navigate changing market environments.

Contact
Kate Holderness
[email protected]
646-482-8774

Michelle Greene Joins Board of Trustees of Blackstone Credit BDCs

May 6, 2022

NEW YORK – Blackstone Private Credit Fund (BCRED) and Blackstone Secured Lending Fund (BXSL), Blackstone Credit’s business development companies (BDCs), today announced the appointment of Michelle Greene, a leader in ESG, stakeholder capitalism and strategic sustainability implementation, to their Boards of Trustees, effective May 2, 2022. BCRED and BXSL are part of the direct lending platform within Blackstone’s $230 billion credit business, the firm’s fastest growing segment.

Ms. Greene is President Emeritus and a Board member and Advisor to the Long-Term Stock Exchange (LTSE), a venture-backed, SEC-approved National Market System exchange with listing standards designed to support companies seeking to partner with long-term shareholders, engage a broad group of stakeholders and build their businesses over time. In this role, she provides guidance to executives on governance and policy issues, including related to ESG, the role of the board, long-term investor and stakeholder engagement and IPOs. She also is a Fellow at the Aspen Institute Business & Society Program, which works with executives, investors and scholars to align business decisions and investments with the long-term health of society and the planet.

Commenting on the appointment, Brad Marshall, Head of North America Private Credit at Blackstone and CEO and Trustee of both BCRED and BXSL, said: “We’re thrilled to welcome a visionary leader like Michelle, whose career illustrates the power of financial markets to advance diversity, decarbonization and good governance, to the Boards of our BDCs.”

Michelle Greene added: “I’m excited to join the team to help oversee Blackstone Credit’s direct lending efforts as a Trustee on the Boards of BCRED and BXSL. Blackstone’s scale and commitment to ESG across its business are a powerful combination for businesses at all stages of their ESG journeys seeking not only capital but partnership and expertise.”

Prior to LTSE, Ms. Greene was Senior Vice President and Head of Global Corporate Responsibility at the New York Stock Exchange (NYSE), where she launched and led its global ESG team, advised Fortune 500 companies on sustainability programs and served as Executive Director of the NYSE Foundation. Previously, she served at the U.S. Department of the Treasury under two administrations, working on financial markets policy, including government response to the 2008 financial crisis and policy development on financial inclusion. Ms. Greene was also a consultant at McKinsey & Company and led the Carr Center for Human Rights Policy at Harvard University, having begun her career as a corporate securities lawyer.

Ms. Greene has previously served on World Economic Forum advisory boards on financial inclusion and gender parity. She was Executive Director of the President’s Advisory Council on Financial Literacy and Financial Inclusion, a member of the White House Council on Women and Girls and an adjunct professor at Columbia University’s School of International and Public Affairs. Ms. Greene graduated from Dartmouth College and received a J.D. from Harvard Law School.

About Blackstone Private Credit Fund
Blackstone Private Credit Fund (BCRED) is Blackstone’s non-listed business development company (BDC). Leveraging Blackstone’s institutional-caliber investment approach, BCRED aims to provide income-focused individual investors access to private credit in a continuously offered fund structure. It is part of Blackstone Credit’s $74 billion direct lending platform, which provides privately originated, senior secured, floating rate loans to U.S. and European middle market companies. BCRED is externally managed by a subsidiary of Blackstone (NYSE: BX), a global leader in credit investing.

About Blackstone Secured Lending Fund
Blackstone Secured Lending Fund (NYSE:BXSL) is a specialty finance company that invests primarily in the debt of private U.S. companies. As of December 31, 2021, BXSL’s fair value of investments was approximately $9.9 billion. BXSL has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. BXSL is externally managed by Blackstone Credit BDC Advisors LLC, an SEC-registered investment adviser that is an affiliate of Blackstone Inc. (formerly, The Blackstone Group Inc.). Blackstone Inc., together with its subsidiaries, is the world’s largest alternative investment firm with approximately $915 billion of assets under management as of March 31, 2022.

About Blackstone Credit
Blackstone Credit is one of the world’s largest credit-focused asset managers, with $230 billion in AUM. We seek to generate attractive risk-adjusted returns for our clients by investing across the entire corporate credit market, from public debt to private loans. Our capital supports a wide range of companies across sectors and geographies, enabling businesses to expand, invest, and navigate changing market environments.

Contact
Mariel Seidman-Gati
[email protected]
+1 917-698-1674

Important Disclosure Information

Local, regional or global events such as war (e.g., Russia/Ukraine), acts of terrorism, public health issues like pandemics or (e.g., COVID-19), recessions, or other economic, political and global macro factors and events could lead to a substantial economic downturn or recession in the U.S. and global economies and have a significant impact on the Fund and its investments. The recovery from such downturns is uncertain and may last for an extended period of time or result in significant volatility, and many of the risks discussed herein associated with an investment in the Fund may be increased.

Vik Sawhney Joins Boards of Trustees of Blackstone Credit BDCs

October 19, 2021

NEW YORK – Blackstone Private Credit Fund (BCRED) and Blackstone Secured Lending Fund (BXSL), Blackstone Credit’s business development companies (BDCs), today announced the appointment of Vik Sawhney to their Boards of Trustees. BCRED and BXSL are part of the direct lending platform within Blackstone’s $163 billion credit business, the firm’s fastest growing segment.

Mr. Sawhney serves as Blackstone’s Chief Administrative Officer and Global Head of Institutional Client Solutions. Since joining Blackstone in 2007, he started Blackstone Capital Markets and was previously the Chief Operating Officer of the Private Equity group. Before joining Blackstone, Mr. Sawhney worked as a Managing Director in the Financial Sponsors Group at Deutsche Bank, and prior to that was an Associate at the law firm of Simpson Thacher & Bartlett.

Commenting on the appointment, Brad Marshall, Co-head of Blackstone Credit’s Performing Credit Platform and CEO of both BCRED and BXSL, said: “We’re excited to welcome Vik to the Boards of our BDCs. His long tenure at Blackstone and experience in the credit markets, as well as his deep expertise in serving a broad range of investors, will be incredibly additive to our direct lending platform.”

Vik Sawhney added: “I’m thrilled to work even more closely with my colleagues in Blackstone Credit to continue building our direct lending business.”

Mr. Sawhney represented Blackstone as a Rockefeller Fellow from 2010 to 2011, and currently sits on the Board of the Blackstone Charitable Foundation. He is also the Board Chair of Dream, an east Harlem-based educational and social services organization. He graduated from Dartmouth College and received a J.D. from Harvard Law School.

About Blackstone Private Credit Fund
Blackstone Private Credit Fund (BCRED) is Blackstone’s non-listed business development company (BDC). Leveraging Blackstone’s institutional-caliber investment approach, BCRED aims to provide income-focused individual investors access to private credit in a continuously offered fund structure. It is part of Blackstone Credit’s $36 billion direct lending platform, which provides privately originated, senior secured, floating rate loans to U.S. and European middle market companies. BCRED is externally managed by a subsidiary of Blackstone (NYSE: BX), a global leader in credit investing.

About Blackstone Secured Lending Fund
Blackstone Secured Lending Fund (BXSL) is a specialty finance company that invests primarily in the debt of private U.S. companies. As of June 30, 2021 BXSL had investments in 111 portfolio companies with an aggregate fair value of approximately $7.4 billion. BXSL has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. BXSL is externally managed by Blackstone Credit BDC Advisors LLC, an SEC-registered investment company that is an affiliate of Blackstone Inc. (formerly, The Blackstone Group Inc.). Blackstone Inc., together with its subsidiaries, is one of the world’s leading investment firms with approximately $684 billion of assets under management as of June 30, 2021.

Blackstone Credit
Blackstone Credit is one of the world’s largest credit-focused asset managers, with $163 billion in AUM. We seek to generate attractive risk-adjusted returns for our clients by investing across the entire corporate credit market, from public debt to private loans. Our capital supports a wide range of companies across sectors and geographies, enabling businesses to expand, invest and navigate changing market environments.

Contact
Kate Holderness
[email protected]
646-482-8774

Mariel Seidman-Gati
[email protected]
917-698-1674

Important Disclosure Information

Local, regional or global events such as war (e.g., Russia/Ukraine), acts of terrorism, public health issues like pandemics or (e.g., COVID-19), recessions, or other economic, political and global macro factors and events could lead to a substantial economic downturn or recession in the U.S. and global economies and have a significant impact on the Fund and its investments. The recovery from such downturns is uncertain and may last for an extended period of time or result in significant volatility, and many of the risks discussed herein associated with an investment in the Fund may be increased.

Blackstone Announces Three New Senior Leaders in Private Credit

September 6, 2021

NEW YORK – Blackstone (NYSE: BX) today announced three new senior leaders in Blackstone Credit, the firm’s $163 billion credit business. Blackstone Credit is the fastest growing segment of the firm driven by strong demand for private credit products from institutional, insurance and individual investors. The three leaders announced today will play critical roles in sourcing investment opportunities, supporting portfolio companies and scaling the firm’s business development companies (BDCs), Blackstone Private Credit Fund (BCRED) and Blackstone Secured Lending Fund (BXSL). BCRED and BXSL are part of Blackstone’s rapidly growing global direct lending platform.

Carlos Whitaker joins from Credit Suisse and will serve as President of both BCRED and BXSL.

Kate Rubenstein will move from Blackstone’s Portfolio Operations Group and will be Chief Operating Officer of both BCRED and BXSL.

Chris Sullivan joins from Barclays and will be Head of Sponsor Coverage for Blackstone Credit.

Commenting on the appointments, Dwight Scott, Global Head of Blackstone Credit, said: “We are thrilled to welcome such strong additional talent and leadership as our private credit platform grows, driven in part by the tremendous demand we see for BCRED, which we launched earlier this year. Carlos, Kate and Chris are exceptional leaders and will help us continue to scale the business while striving to deliver compelling returns to our investors.”

Carlos Whitaker said: “I’m excited to join the Blackstone Credit team to help further accelerate their direct lending efforts. Dwight has established an incredible culture and the team’s leading private credit platform is driving innovation, delivering compelling solutions to investors and providing vital support to U.S. companies.”

Kate Rubenstein said: “I look forward to returning to the Blackstone Credit team to help scale the BDCs and support their success by bringing all of Blackstone’s resources to bear.”

Chris Sullivan said: “Blackstone has market leading momentum and strength across its credit platform. I look forward to deepening our already strong relationships with a diverse group of sponsors to provide private credit solutions and communicate the strategic advantages of Blackstone Credit in the marketplace.”

Bios
Carlos Whitaker will be a Senior Managing Director in Blackstone Credit. He joins Blackstone from Credit Suisse, where he was a Managing Director and Head of New York and Co-Head of EMEA Advisory Sales. Whitaker began his career at Credit Suisse in 2000 as an Analyst. Whitaker is a member of the McCombs School of Business Advisory Council at the University of Texas at Austin. He also sits on the boards of New York for McCombs and Rising Stars Capital Management, which is a nonprofit focused on improving diversity in the finance industry. Whitaker received a Bachelor of Arts from the Plan II Honors Program, a Bachelor of Business Administration in Accounting and a Master in Professional Accounting from the University of Texas at Austin.

Kate Rubenstein will be a Managing Director in Blackstone Credit. Previously, she was with the Blackstone Portfolio Operations group where she led the Blackstone Advantage program, focusing on building networks and expanding access to resources for portfolio companies across Blackstone business units. Prior to that, Rubenstein created and led the GSO Advantage platform (now Blackstone Credit Advantage). Prior to Blackstone, Rubenstein spent ten years with GE Capital. She is on the Blackstone Charitable Foundation Leadership Council and on the Board of Let’s Get Ready, a non-profit organization that provides low income students support to gain admission to and graduate from college. Rubenstein received an MBA from The Johnson Graduate School of Management at Cornell University, where she was a Roy H. Park Leadership Fellow, and a bachelor’s degree from Dartmouth College.

Chris Sullivan will be a Senior Managing Director in Blackstone Credit. He joins Blackstone from Barclays where he was the Global Head of Financial Sponsors, responsible for driving the business that managed relationships with private equity clients globally. Sullivan joined Barclays from Lehman Brothers in 2008 where he was a Managing Director in Financial Sponsors working with a wide range of private equity clients to source, structure and execute transactions. He currently serves on the board of the Bryn Mawr Hospital Foundation. Chris graduated with a B.A. in Economics & Accounting from the College of the Holy Cross and earned his MBA from the Wharton School of Business at the University of Pennsylvania.

About Blackstone Credit
Blackstone Credit is one of the world’s largest credit-focused asset managers, with $163 billion in AUM. We seek to generate attractive risk-adjusted returns for our clients by investing across the entire corporate credit market, from public debt to private loans. Our capital supports a wide range of companies across sectors and geographies, enabling businesses to expand, invest, and navigate changing market environments.

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $684 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

Contact
Kate Holderness
[email protected]
646-482-8774

Important Disclosure Information

Local, regional or global events such as war (e.g., Russia/Ukraine), acts of terrorism, public health issues like pandemics or (e.g., COVID-19), recessions, or other economic, political and global macro factors and events could lead to a substantial economic downturn or recession in the U.S. and global economies and have a significant impact on the Fund and its investments. The recovery from such downturns is uncertain and may last for an extended period of time or result in significant volatility, and many of the risks discussed herein associated with an investment in the Fund may be increased.