IPO - Blackstone Private Credit Fund

Form Type: N-2ASR

Filing Date: 2025-01-30

Corporate Action: Ipo

Type: New

Accession Number: 000119312525016793

Filing Summary: Blackstone Private Credit Fund, a Delaware statutory trust, is engaging in a continuous public offering of up to $45.0 billion of common shares of beneficial interest, aiming to invest primarily in loans and other securities of U.S. private companies. The fund is structured as a Business Development Company (BDC) under the Investment Company Act of 1940. The fund's investment strategy focuses on current income and long-term capital appreciation with at least 80% of its assets directed toward private credit investments. Debt securities will be sold at prices within one or more prospectus supplements, reflecting various classes of shares with differing share servicing and distribution fees. This offering may utilize leverage, not exceeding a 2:1 debt to equity ratio, to enhance returns. Key management is provided by affiliates of Blackstone Inc., leveraging their expertise and resources. As of September 30, 2024, the fund's investment composition included predominantly first lien senior secured investments, and it is expected to mainly target private companies, while maintaining compliance with regulatory requirements for BDCs.

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