Blackstone Private Credit Fund Breaks Escrow with Net Proceeds of $814 Million
Blackstone today announced that Blackstone Private Credit Fund (“BCRED”), the firm’s non-listed business development company (“BDC”), broke escrow with approximately
Blackstone Credit manages approximately
Commenting on the announcement, Joan Solotar, Global Head of Private Wealth Solutions, said: “Just as we reimagined the non-traded REIT with BREIT, we are hoping to do the same with private credit and BDCs. The positive initial response to BCRED illustrates the need for income solutions in today’s low rate environment and the compelling opportunity BCRED can provide.”
Dwight Scott, Global Head of Blackstone Credit, said: “Blackstone has built a
Brad Marshall, Co-Head of Performing Credit and CEO of BCRED, said: “With BCRED, we’re focused on investing in established, historically stable enterprises with positive cash flows and staying senior in the capital structure. Our scale and resources differentiate us in the market, help us identify investment opportunities and help support the long-term success of the companies we invest in.”
About Blackstone Credit
Blackstone Credit is one of the world’s largest credit-focused asset managers, with
About Blackstone
Blackstone is one of the world’s leading investment firms. 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
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.
1 As of September 30, 2020
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