Form 4: Blackstone Affiliates Acquire 2.54M Shares of BREIC Fund
Rhea-AI Filing Summary
Blackstone insiders reported purchases of common shares of Blackstone Private Real Estate Credit & Income Fund on 09/22/2025. The filing shows two non-derivative purchases: 1,366,653.651 shares and 1,171,417.415 shares, each at a price of $25.61 per share. The report lists multiple related Blackstone reporting persons and entities that may be deemed to beneficially own the shares, and gives post-transaction beneficial ownership figures of 7,506,208.823 and 4,141,431.247 shares for the respective reported lines. The filing includes explanatory footnotes describing the ownership and advisory relationships among the Blackstone entities and a signed certification by the reporting persons.
Positive
- Two substantive purchases disclosed: 1,366,653.651 shares and 1,171,417.415 shares acquired on 09/22/2025 at $25.61 per share
- Clear post-transaction ownership figures: 7,506,208.823 and 4,141,431.247 shares reported following the transactions
- Detailed ownership disclosures: Footnotes explain advisory and control relationships among Blackstone entities and relevant disclaimers
- Proper signatures: Authorized signatories and Stephen A. Schwarzman signed the filing
Negative
- None.
Insights
TL;DR: Significant insider purchases totaling 2,538,071.066 shares at $25.61 suggest internal acquisition activity by Blackstone-related entities.
The Form 4 documents two sizable purchases on 09/22/2025: 1,366,653.651 shares and 1,171,417.415 shares, both priced at $25.61. These transactions were reported by multiple Blackstone-related entities and individuals, with post-transaction beneficial ownership figures shown for each reported line. From a market-signaling perspective, large purchases by affiliated entities can be material; the filing clearly discloses the relationships and allocates holdings among the Blackstone holders without providing additional financial context such as total fund size or percentage ownership of the issuer.
TL;DR: The filing documents coordinated acquisitions by related Blackstone entities and includes detailed ownership footnotes and disclaimers.
The Form 4 lists multiple reporting persons and provides explanatory footnotes that describe control, advisory relationships, and disclaimers of beneficial ownership among the Blackstone entities. Signatures from authorized representatives and Stephen A. Schwarzman are present, and the filing notes that some affiliates filed separate Forms 4 due to EDGAR limits. The disclosures follow Section 16 formatting and explicitly state which entities directly hold the reported common shares.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Shares of Beneficial Interest | 1,366,653.651 | $25.61 | $35.00M |
| Purchase | Common Shares of Beneficial Interest | 1,171,417.415 | $25.61 | $30.00M |
Footnotes (1)
- Reflects common shares of beneficial interest (the "Common Shares") of Blackstone Private Real Estate Credit and Income Fund (the "Issuer") held directly by BCRED X Holdings LLC ("BCRED X"). Reflects securities of the Issuer held directly by Blackstone Private Multi-Asset Credit and Income Fund ("BMACX" and together with BCRED X, the "Blackstone Holders"). Blackstone Private Credit Fund is the sole member of BCRED X. Blackstone Private Credit Strategies LLC is the investment adviser of Blackstone Private Credit Fund and BMACX. Blackstone Credit BDC Advisors LLC is the sub-adviser of Blackstone Private Credit Fund. Blackstone Alternative Credit Advisors LP is the sole member of Blackstone Credit BDC Advisors LLC. GSO Advisor Holdings L.L.C. is the special limited partner of Blackstone Alternative Credit Advisors LP with the investment and voting power over the securities beneficially owned by Blackstone Alternative Credit Advisors LP. Blackstone Holdings I L.P. is the sole member of Blackstone Private Credit Strategies LLC and GSO Advisor Holdings L.L.C.. Blackstone Holdings I/II GP L.L.C. is the general partner of Blackstone Holdings I L.P. Blackstone Inc. is the sole member of Blackstone Holdings I/II GP L.L.C. Blackstone Group Management L.L.C. is the sole holder of the Series II preferred stock of Blackstone Inc. Blackstone Group Management L.L.C. is wholly-owned by Blackstone Inc.'s senior managing directors and controlled by its founder, Stephen A. Schwarzman. Each such Reporting Person may be deemed to beneficially own the Common Shares of the Issuer directly held by the Blackstone Holders directly or indirectly controlled by it or him, but each (other than BCRED X and BMACX to the extent of their respective direct holdings) disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein, and this filing shall not be deemed an admission that any of the Reporting Persons (other than BCRED X and BMACX to the extent each directly holds securities of the Issuer) is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Information with respect to each of the Reporting Persons is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person.
FAQ
Who signed the Form 4 reporting these transactions?
Do the filings explain the relationships between the reporting entities?
What were the post-transaction beneficial ownership figures reported?
