Blackstone Inc. (NYSE: BX) affiliates report purchase of 573,613 fund shares

Rhea-AI Filing Summary

Blackstone Private Multi-Asset Credit & Income Fund reported a purchase of 573,613.767 Common Shares of Beneficial Interest of Blackstone Private Real Estate Credit & Income Fund on July 23, 2026 at $26.15 per share. The shares are held indirectly, through entities described in the ownership footnotes, and various Blackstone-affiliated reporting persons may be deemed to beneficially own them but generally disclaim beneficial ownership except to the extent of their pecuniary interest.

Insider Trade Summary

Net Buyer: 573,613.767 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 573,613.767 shs ($15.00M)

Type	Security	Shares	Price	Value
Purchase	Common Shares of Beneficial Interest F1, F3, F4, F5, F6	573,613.767	$26.15	$15.00M
holding	Common Shares of Beneficial Interest F2, F3, F4, F5, F6	--	--	--

Holdings After Transaction: Common Shares of Beneficial Interest — 27,084,052.957 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.
4. F4. Blackstone Holdings AI L.P. is the sole shareholder of StoneCo IV Corporation. Blackstone Holdings I/II GP L.L.C. is the general partner of Blackstone Holdings AI 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

Shares purchased: 573,613.767 shares Purchase price per share: $26.15 per share Net buy shares: 573,613.767 shares

3 metrics

Shares purchased 573,613.767 shares Common Shares of Beneficial Interest acquired on July 23, 2026

Purchase price per share $26.15 per share Price for Common Shares bought on July 23, 2026

Net buy shares 573,613.767 shares Net share change across reported transactions in this Form 4

Key Terms

Common Shares of Beneficial Interest, beneficially own, pecuniary interest, Series II preferred stock

4 terms

Common Shares of Beneficial Interest financial

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

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"

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.

pecuniary interest financial

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

Series II preferred stock financial

"Blackstone Group Management L.L.C. is the sole holder of the Series II preferred stock of Blackstone Inc."

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 08/10/2026 - 04:00 PM Accepted by SEC EDGAR 07/24/2026 - 04:44 PM Learn about SEC filing dates

FAQ

What transaction did Blackstone-related entities report in this Form 4 for BX?

The reporting group disclosed a purchase of 573,613.767 Common Shares of Blackstone Private Real Estate Credit & Income Fund on July 23, 2026 at $26.15 per share, held indirectly through Blackstone-affiliated investment entities.

Who actually holds the purchased shares reported for BX in this filing?

The shares are held directly by Blackstone Private Multi-Asset Credit & Income Fund (BMACX) and indirectly by other Blackstone-affiliated entities described in the footnotes, which may be deemed to beneficially own the shares subject to pecuniary-interest limits.

How many shares did the Blackstone holders buy and at what price in this BX-related Form 4?

The transaction covers 573,613.767 Common Shares of Beneficial Interest purchased at $26.15 per share. These are shares of Blackstone Private Real Estate Credit & Income Fund, with the position reported as indirect ownership through affiliated entities.

Do the Blackstone reporting persons claim full beneficial ownership of the BX-related shares?

The reporting persons state they may be deemed to beneficially own the Common Shares held by the Blackstone holders, but generally disclaim beneficial ownership except to the extent of their pecuniary interest, as detailed in the footnotes.

Was the BX-related share purchase made under a Rule 10b5-1 plan?

The Form 4 indicates the Rule 10b5-1 checkbox is not marked, and the footnotes do not describe a trading plan. The reported July 23, 2026 purchase therefore is not characterized here as executed under a Rule 10b5-1 arrangement.

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)
07/23/2026

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	07/23/2026		P		573,613.767	A	$26.15	8,455,758.36	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 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 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.

4. Blackstone Holdings AI L.P. is the sole shareholder of StoneCo IV Corporation. Blackstone Holdings I/II GP L.L.C. is the general partner of Blackstone Holdings AI 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	07/24/2026
	BLACKSTONE PRIVATE CREDIT STRATEGIES LLC, By: /s/ Lucie Enns, Name and Title: Lucie Enns, Authorized Signatory	07/24/2026
	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	07/24/2026
	BLACKSTONE HOLDINGS I/II GP L.L.C., By: /s/ Victoria Portnoy, Name and Title: Victoria Portnoy, Managing Director - Assistant Secretary	07/24/2026
	BLACKSTONE INC., By: /s/ Victoria Portnoy, Name and Title: Victoria Portnoy, Managing Director - Assistant Secretary	07/24/2026
	BLACKSTONE GROUP MANAGEMENT L.L.C., By: /s/ Victoria Portnoy, Name and Title: Victoria Portnoy, Managing Director - Assistant Secretary	07/24/2026
	/s/ STEPHEN A. SCHWARZMAN	07/24/2026
	** 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)