Blackstone entities buy 765K fund shares at $26.14

Blackstone-affiliated entities reported an indirect open-market purchase of 765,110.941 Common Shares of Beneficial Interest of Blackstone Private Real Estate Credit & Income Fund at $26.14 per share.

Rhea-AI Filing Summary

Blackstone-affiliated entities reported an indirect open-market purchase of 765,110.941 Common Shares of Beneficial Interest of Blackstone Private Real Estate Credit & Income Fund at $26.14 per share. The filing shows indirect ownership structures through funds and holding vehicles described in detail in the footnotes.

After this purchase, one reporting line shows 7,882,144.593 Common Shares held indirectly, while another holding entry lists 18,628,294.597 Common Shares held indirectly by related entities. Several Blackstone entities and their upstream parents may be deemed to beneficially own these holdings, subject to the pecuniary-interest and beneficial-ownership disclaimers in the footnotes.

Insider Trade Summary

Net Buyer: 765,110.941 shares

Net Buy 2 txns

Insider Blackstone Private Multi-Asset Credit & Income Fund, Blackstone Private Credit Strategies LLC, Blackstone Holdings I L.P., Blackstone Holdings I/II GP L.L.C., Blackstone Inc., Blackstone Group Management L.L.C., SCHWARZMAN STEPHEN A

Role 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner

Bought 765,110.941 shs ($20.00M)

Type	Security	Shares	Price	Value
Purchase	Common Shares of Beneficial Interest	765,110.941	$26.14	$20.00M
holding	Common Shares of Beneficial Interest	--	--	--

Holdings After Transaction: Common Shares of Beneficial Interest — 26,510,439.19 shares (Indirect, See Footnotes)

Footnotes (6)

1. F1. Reflects common shares of beneficial interest (the "Common Shares") of Blackstone Private Real Estate Credit and Income Fund (the "Issuer") held directly by Blackstone Private Multi-Asset Credit and Income Fund ("BMACX").
2. F2. Reflects securities of the Issuer held directly by BCRED X Holdings LLC ("BCRED X" and together with BMACX, the "Blackstone Holders").
3. F3. 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 Capital Partners GP L.L.C. is the general partner of Blackstone Alternative Credit Advisors LP. StoneCo IV Corporation is the sole member of GSO Capital Partners GP L.L.C. Blackstone Holdings IV L.P. is the majority shareholder of StoneCo IV Corporation. Blackstone Holdings IV GP L.P. is the general partner of Blackstone Holdings IV L.P.
4. F4. Blackstone Holdings IV GP Management (Delaware) L.P. is the general partner of Blackstone Holdings IV GP L.P. Blackstone Holdings IV GP Management L.L.C. is the general partner of Blackstone Holdings IV GP Management (Delaware) L.P. Blackstone Inc. is the sole member of Blackstone Holdings IV GP Management L.L.C. Blackstone Holdings I L.P. is the sole member of Blackstone Private Credit Strategies LLC. 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.
5. F5. 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.
6. F6. 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.

Key Figures

Open-market purchase size: 765,110.941 shares Purchase price: $26.14 per share Shares following transaction (line 1): 7,882,144.593 shares +3 more

6 metrics

Open-market purchase size 765,110.941 shares Common Shares of Beneficial Interest bought on June 23, 2026

Purchase price $26.14 per share Price for non-derivative open-market transaction

Shares following transaction (line 1) 7,882,144.593 shares Indirectly owned Common Shares after reported purchase

Separate indirect holding 18,628,294.597 shares Indirectly held Common Shares reported as a holding entry

Net buy direction 765,110.941 net shares bought transactionSummary shows net-buy with buyCount 1, sellCount 0

Insider status Ten percent owners Multiple reporting persons flagged as 10% owners

Key Terms

Common Shares of Beneficial Interest, beneficially own, ten percent owner, indirect ownership, +1 more

5 terms

Common Shares of Beneficial Interest financial

"Reflects common shares of beneficial interest (the "Common Shares") of Blackstone Private Real Estate Credit and Income Fund"

Common Shares of Beneficial Interest are units that represent ownership in a company or organization, like owning a piece of a pie. They give investors voting rights and a chance to share in profits, making them important for those looking to invest and have a say in how the organization is run.

beneficially own financial

"Each such Reporting Person may be deemed to beneficially own the Common Shares of the Issuer directly held by the Blackstone Holders"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

ten percent owner regulatory

"reportingPersons ... is_ten_percent_owner: 1"

indirect ownership financial

"total_shares_following_transaction ... ownership_type: "indirect", ownership_code: "I""

pecuniary interest financial

"disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider activity did Blackstone (BX) report for Blackstone Private Real Estate Credit & Income Fund?

The filing reports that entities associated with Blackstone Inc. indirectly purchased 765,110.941 Common Shares of Blackstone Private Real Estate Credit & Income Fund in an open-market transaction, expanding their indirect holdings through affiliated funds and holding companies described in the footnotes.

How many shares were bought and at what price in this Blackstone (BX) Form 4?

Blackstone-affiliated entities reported an indirect open-market purchase of 765,110.941 Common Shares at a price of $26.14 per share. This transaction is recorded as a non-derivative acquisition, increasing the reported indirect ownership position in the fund’s common shares.

Are the Blackstone (BX) shares in this filing held directly or indirectly?

The Common Shares are reported as held indirectly through entities such as Blackstone Private Multi-Asset Credit & Income Fund and BCRED X Holdings LLC. The nature of ownership is referenced to footnotes that outline a multi-entity structure and related beneficial ownership relationships.

Which entities are involved in the Blackstone (BX) ownership of this credit and income fund?

Entities include Blackstone Private Multi-Asset Credit & Income Fund, BCRED X Holdings LLC, Blackstone Private Credit Strategies LLC, various Blackstone Holdings partnerships, Blackstone Inc., and Blackstone Group Management L.L.C., all linked through layered ownership and advisory relationships detailed in the footnotes.

What do the beneficial ownership disclaimers mean in this Blackstone (BX) Form 4?

The filing states each reporting person may be deemed to beneficially own the Common Shares held by the Blackstone Holders but, other than BCRED X and BMACX for their direct holdings, they disclaim beneficial ownership except to the extent of any pecuniary interest in those securities.

How many Common Shares does the Form 4 show after the Blackstone (BX) transaction?

One transaction line shows 7,882,144.593 Common Shares indirectly owned following the purchase, and a separate holding entry lists 18,628,294.597 Common Shares indirectly held. These figures reflect positions attributed to Blackstone-affiliated entities rather than direct individual ownership.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/24/2026 - 04:30 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Blackstone Private Multi-Asset Credit & Income Fund

(Last) (First) (Middle)

C/O THE BLACKSTONE GROUP

345 PARK AVE

(Street)

NEW YORK NEW YORK 10154

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Blackstone Private Real Estate Credit & Income Fund [ NONE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/23/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares of Beneficial Interest	06/23/2026		P		765,110.941	A	$26.14	7,882,144.593	I	See Footnotes(1)(3)(4)(5)(6)
Common Shares of Beneficial Interest								18,628,294.597	I	See Footnotes(2)(3)(4)(5)(6)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Blackstone Private Multi-Asset Credit & Income Fund

(Last) (First) (Middle)

C/O THE BLACKSTONE GROUP

345 PARK AVE

(Street)

NEW YORK NEW YORK 10154

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Blackstone Private Credit Strategies LLC

(Last) (First) (Middle)

C/O BLACKSTONE INC.

345 PARK AVE

(Street)

NEW YORK NEW YORK 10154

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Blackstone Holdings I L.P.

(Last) (First) (Middle)

C/O BLACKSTONE INC.

345 PARK AVENUE

(Street)

NEW YORK NEW YORK 10154

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Blackstone Holdings I/II GP L.L.C.

(Last) (First) (Middle)

C/O BLACKSTONE INC.

345 PARK AVENUE

(Street)

NEW YORK NEW YORK 10154

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Blackstone Inc.

(Last) (First) (Middle)

C/O BLACKSTONE INC.

345 PARK AVENUE

(Street)

NEW YORK NEW YORK 10154

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Blackstone Group Management L.L.C.

(Last) (First) (Middle)

345 PARK AVENUE

(Street)

NEW YORK NEW YORK 10154

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

SCHWARZMAN STEPHEN A

(Last) (First) (Middle)

C/O BLACKSTONE INC.

345 PARK AVENUE

(Street)

NEW YORK NEW YORK 10154

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. Reflects common shares of beneficial interest (the "Common Shares") of Blackstone Private Real Estate Credit and Income Fund (the "Issuer") held directly by Blackstone Private Multi-Asset Credit and Income Fund ("BMACX").

2. Reflects securities of the Issuer held directly by BCRED X Holdings LLC ("BCRED X" and together with BMACX, the "Blackstone Holders").

3. 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 Capital Partners GP L.L.C. is the general partner of Blackstone Alternative Credit Advisors LP. StoneCo IV Corporation is the sole member of GSO Capital Partners GP L.L.C. Blackstone Holdings IV L.P. is the majority shareholder of StoneCo IV Corporation. Blackstone Holdings IV GP L.P. is the general partner of Blackstone Holdings IV L.P.

4. Blackstone Holdings IV GP Management (Delaware) L.P. is the general partner of Blackstone Holdings IV GP L.P. Blackstone Holdings IV GP Management L.L.C. is the general partner of Blackstone Holdings IV GP Management (Delaware) L.P. Blackstone Inc. is the sole member of Blackstone Holdings IV GP Management L.L.C. Blackstone Holdings I L.P. is the sole member of Blackstone Private Credit Strategies LLC. 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.

5. 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.

6. 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.

	BLACKSTONE PRIVATE MULTI-ASSET CREDIT AND INCOME FUND, By: /s/ Lucie Enns, Name and Title: Lucie Enns, Chief Legal Officer	06/24/2026
	BLACKSTONE PRIVATE CREDIT STRATEGIES LLC, By: /s/ Lucie Enns, Name and Title: Lucie Enns, Authorized Signatory	06/24/2026
	BLACKSTONE HOLDINGS I L.P., By: Blackstone Holdings I/II GP L.L.C., its general partner, By: /s/ Victoria Portnoy, Name and Title: Victoria Portnoy, Managing Director - Assistant Secretary	06/24/2026
	BLACKSTONE HOLDINGS I/II GP L.L.C., By: /s/ Victoria Portnoy, Name and Title: Victoria Portnoy, Managing Director - Assistant Secretary	06/24/2026
	BLACKSTONE INC., By: /s/ Victoria Portnoy, Name and Title: Victoria Portnoy, Managing Director - Assistant Secretary	06/24/2026
	BLACKSTONE GROUP MANAGEMENT L.L.C., By: /s/ Victoria Portnoy, Name and Title: Victoria Portnoy, Managing Director - Assistant Secretary	06/24/2026
	/s/ STEPHEN A. SCHWARZMAN	06/24/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)