Welcome to our dedicated page for Blackstone Strategic Credit 2027 Term Fund news (Ticker: BGB), a resource for investors and traders seeking the latest updates and insights on Blackstone Strategic Credit 2027 Term Fund stock.
Blackstone Strategic Credit 2027 Term Fund (BGB) is a closed-end term fund managed by Blackstone Liquid Credit Strategies LLC, an affiliate of Blackstone Alternative Credit Advisors LP. The primary investment objective of BGB is to seek high current income, while its secondary objective is to preserve capital. Under normal market conditions, the Fund invests at least 80% of its Managed Assets in senior, secured floating-rate loans, offering investors a steady income stream. BGB also invests in second-lien loans and high-yield bonds, employing financial leverage to potentially enhance returns, albeit with increased risk.
Established to operate for a fixed term, the Fund's lifespan can only be extended with shareholder approval. This structure ensures investors clarity on the Fund's operational timeline.
In recent news, effective January 1, 2024, Robert Zable was appointed as Trustee, Chairman of the Boards of Trustees, President, and Chief Executive Officer of BGB, succeeding Daniel H. Smith. Additionally, Robert Post has taken over the roles of Executive Vice President and Assistant Secretary. Both Mr. Zable and Mr. Post bring extensive experience in the credit market, promising stable and informed management of the Fund.
BGB's dynamic distribution strategy is noteworthy. The Fund declares monthly distributions based on recent average monthly net income, which may vary each quarter. This flexibility helps maintain portfolio credit quality across different market conditions. It's important to note that a portion of each distribution may come from sources other than net investment income, such as capital gains or return of capital, and final tax characteristics are determined at the end of the fiscal year.
Blackstone is recognized as the world's largest alternative asset manager, with a vast portfolio that includes private equity, real estate, credit, infrastructure, life sciences, and more. Blackstone Credit, a key segment, focuses on generating attractive risk-adjusted returns across the corporate credit market, supporting a wide array of companies globally.
Investors interested in BGB can place orders through intermediaries or brokers. For more information, they can contact the Funds at 1 (877) 299-1588 or visit the Funds' website for further details.
On December 10, 2020, Blackstone Liquid Credit Strategies LLC announced name changes for three closed-end funds it advises: Blackstone / GSO Senior Floating Rate Term Fund (BSL), Blackstone / GSO Long-Short Credit Income Fund (BGX), and Blackstone / GSO Strategic Credit Fund (BGB). The new names will be effective immediately, but there will be no changes to the investment objectives, management, or ticker symbols. This move reflects Blackstone Credit's integration with The Blackstone Group since its acquisition of GSO in 2008, ensuring stability in the team's structure and operational processes.
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