Portfolio

Predominantly comprised of floating rate senior secured loans across a diverse group of sectors and issuers.

Data as of June 30, 2025

$13.3B

Investments at Fair Value

98.2%

First Lien Senior Secured

98.9%

of Debt Investments Are Floating Rate

46.9%

Loan-to-Value Ratio(1)

Portfolio Snapshot

Asset Type

Top Industries (at FMV)(2)

Geography

Issuer Concentration

Featured Portfolio Companies(3)

JSSI (JSS Holdings, Inc.)

Commercial Services & Supplies

United Vet Care Holdings “UVC”

Health Care Providers & Services

Guidehouse

Professional Services

Medallia

Software

Top Portfolio Holdings

CompanyAsset TypeSectorFair Value ($ in thousands)
MedalliaFirst LienSoftware337,568
SnoopyFirst LienHealth Care Providers & Services330,335
JSS Holdings, Inc.First LienCommercial Services & Supplies322,580
GuidehouseFirst LienProfessional Services312,623
Cambium Learning, IncFirst LienDiversified Consumer Services284,706
Auctane, Inc.First LienSoftware276,643
CorfinFirst LienAerospace & Defense262,891
Bazaarvoice Inc.First LienCommercial Services & Supplies238,337
Navigator Acquiror Inc.First LienHealth Care Providers & Services231,097
IRI GroupFirst LienSoftware197,497
Inovalon Holdings IncFirst Lien IT Services 182,492
eResearchFirst Lien Health Care Technology 179,984
Custom InkFirst LienSpecialty Retail175,836
IntegrityFirst LienInsurance160,739
Redwood Services Group LLCFirst Lien IT Services 159,610
Tennessee Bidco LtdFirst Lien Insurance 159,476
Genuine Cable Group LLCFirst LienDistributors155,703
AEVEX AerospaceFirst LienAerospace & Defense154,810
Shelf Bidco LtdFirst LienInsurance149,131
Qualus Power ServicesFirst LienElectric Utilities138,426
  1. Includes the private debt investments for which fair value is determined by the Board of Trustees. Average loan-to-value represents the net ratio of loan-to-value for each portfolio company, weighted based on the fair value of total applicable private debt investments. Loan-to-value is calculated as the current total net debt through each respective loan tranche divided by the estimated enterprise value of the portfolio company as of the most recent quarter end.
  2. Measured as the fair value of investments for each category against the total fair value of all investments. Totals may not sum due to rounding.
  3. Note: Represents the top six positions in BXSL as of June 30, 2023, defined as the largest privately originated positions in the top six sectors. The above reflects Blackstone Credit’s views and beliefs. These case studies are for illustrative purposes only, are not representative of all Blackstone Credit investments and do not constitute investment advice or recommendation of past investments. Past performance is not necessarily indicative of future results and there can be no assurance that the fund will achieve results comparable to those of any of Blackstone Credit’s prior funds or be able to implement its strategy or achieve its investment objectives, including due to an inability to access sufficient investment opportunities. All rights to the trademarks and/or logos listed herein belong to their respective owners and Blackstone Credit’s use hereof does not imply any affiliation with, or endorsement by the owners of these trademarks and/or logos.