Portfolio

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

Data as of June 30, 2022

$10.1B

Investments at Fair Value

98%

First Lien Senior Secured

99.9%

of Debt Investments Are Floating Rate

46.4%

Loan-to-Value Ratio1

Portfolio Snapshot

Asset Type

Sector

Geography

Issuer Concentration

Recent Awards

Deal of the Year, Americas
Auctane Logo

Blackstone led the largest unitranche financing on record, committing the entire $2.6 billion tranche in support of Thoma Bravo’s $6.6 billion acquisition of Stamps.com, the provider of e-commerce shipping software solutions. The deal was typical of Blackstone’s focus on the very large end of the market.2

Featured Portfolio Companies3

TGIA (The GI Alliance)

Health Care Providers & Services

JSSI (JSS Holdings, Inc.)

Commercial Services & Supplies

Mode Purchaser

Air Freight & Logistics

Guidehouse

Professional Services

Medallia

Software

Portfolio Holdings

CompanyAsset TypeSectorFair Value
($ in thousands)
Guidehouse, Inc.First Lien Professional Services342,692
Donuts, Inc.First LienInternet & Direct Marketing Retail324,131
Cambium Learning Group, Inc.First Lien Diversified Consumer Services315,160
Medallia, Inc.First Lien Software290,160
JSS Holdings, Inc.First Lien Commercial Services & Supplies286,648
Stamps.com, Inc.First Lien Software284,472
Corfin Holdings, Inc. First Lien Aerospace & Defense270,696
The GI Alliance Management, LLCFirst Lien Health Care Providers & Services270,215
Snoopy Bidco, Inc. First Lien Health Care Providers & Services 258,750
Edifecs, Inc. First Lien Health Care Technology 228,038
Bazaarvoice, Inc. First Lien Commercial Services & Supplies208,735
Navigator Acquiror, Inc. First Lien Health Care Providers & Services200,914
Mode Purchaser, Inc. First Lien Air Freight & Logistics175,204
CustomInk, LLC First Lien Specialty Retail 161,549
Eagle Midstream Canada Finance, Inc. First Lien Oil, Gas & Consumable Fuels 150,862
USALCO, LLC First Lien Chemicals171,834
Snoopy Bidco, Inc.First Lien Health Care Providers & Services 167,122
Eagle Midstream Canada Finance, Inc.First Lien Oil, Gas & Consumable Fuels150,862
Genuine Cable Group, LLCFirst Lien Distributors140,653
Livingston International, Inc.First Lien Air Freight & Logistics128,858
Lindstrom, LLCFirst Lien Building Products 122,219
The NPD Group L.P.First Lien Software119,633
AGI-CFI Holdings, Inc.First Lien Air Freight & Logistics116,208
Radwell International, LLCFirst LienElectrical Equipment115,620
The Action Environmental Group, Inc.First LienCommercial Services & Supplies113,473
Integrity Marketing Acquisition, LLCFirst Lien Insurance113,109
TCFI AEVEX, LLC First Lien Aerospace & Defense101,423
SG Acquisition, Inc. First Lien Insurance110,309
Albireo Energy, LLC First Lien Electronic Equipment, Instruments & Components108,194
ACI Group Holdings, Inc.First LienHealth Care Providers & Services107,681
Healthcomp Holding Company, LLC First Lien Health Care Providers & Services105,077
Inovalon Holdings, Inc.First LienSoftware100,806
Unified Door & Hardware Group, LLC First Lien Distributors94,859
Jacuzzi Brands, LLC First Lien Building Products94,817
LD Lower Holdings, Inc. First Lien Software92,465
Frontline Road Safety, LLC First Lien Transportation Infrastructure 87,869
Point Broadband Acquisition, LLC First Lien Diversified Telecommunication Services84,558
Lytx, Inc. First Lien Technology Hardware, Storage & Peripherals84,893
Shoals Holdings, LLC First Lien Electrical Equipment84,780
Red River Technology, LLC First Lien IT Services78,951
ALKU, LLC First LienProfessional Services79,224
MAG DS Corp.First LienAerospace & Defense77,010
SelectQuote, Inc. First Lien Diversified Financial Services 75,539
Westland Insurance Group LTD First Lien Insurance74,438
Bution Holdco 2, Inc. First Lien Distributors73,503
Spitfire Parent, Inc. First Lien Software70,131
NMC Crimson Holdings, Inc. First Lien Health Care Technology 69,278
Progress Residential PM Holdings, LLCFirst LienReal Estate Management & Development71,026
Trinity Air Consultants Holdings Corp. First Lien Professional Services67,656
Dana Kepner Company, LLC First Lien Distributors64,104
Emergency Power Holdings, LLC First Lien Electrical Equipment63,513
Latham Pool Products, Inc. First Lien Building Products62,560
Tennessee Bidco LimitedFirst LienInsurance61,623
VDM Buyer, Inc. First Lien Chemicals 60,575
R1 Holdings, LLC First Lien Air Freight & Logistics60,539
Barbri Holdings, Inc.First LienDiversified Financial Services59,956
Diligent Corporation First Lien Software 59,103
Windows Acquisition Holdings, Inc. First Lien Building Products 55,418
Cumming Group, Inc.First Lien Real Estate Management & Development54,819
Jones Deslauriers Insurance Management, Inc.First Lien Insurance53,799
Fencing Supply Group Acquisition, LLCFirst Lien Building Products52,453
The Cook & Boardman Group, LLCFirst Lien Trading Companies & Distributors48,494
Relay Purchaser, LLCFirst Lien Software49,303
High Street Buyer, Inc.First Lien Insurance48,740
Triple Lift, Inc. First Lien Software 48,113
Abaco Energy Technologies, LLC First Lien Energy Equipment & Services47,453
Razor Holdco, LLC First Lien IT Services46,844
Bungie, Inc. First Lien Interactive Media & Services47,200
IG Investments Holdings, LLC First Lien Professional Services47,375
Porcelain Acquisition Corp. First Lien Trading Companies & Distributors45,821
WHCG Purchaser III, Inc. First Lien Health Care Providers & Services 45,352
Roadsafe Holdings, Inc. First Lien Transportation Infrastructure42,697
AxiomSL Group, Inc. First Lien Software41,570
Titan Investment Company, Inc. First Lien Professional Services42,672
Westland Insurance Group LTD First Lien Insurance41,314
Tailwind Colony Holding Corporation First Lien Distributors38,619
TRP Infrastructure Services, LLC First Lien Transportation Infrastructure38,819
Sam Holding Co, Inc. First Lien Transportation Infrastructure37,322
Connatix Buyer, Inc. First Lien Software36,745
Helix TS, LLC First Lien Transportation Infrastructure35,469
BPPH2 Limited First Lien Professional Services35,978
Tennessee Bidco Limited First Lien Insurance33,663
Nintex Topco Limited First Lien Software33,785
HIG Orca Acquisition Holdings, Inc. First Lien Professional Services32,760
Blackstone Donegal Holdings LP – LP Interests (Westland Insurance Group LTD)EquityInsurance 35,682
US Oral Surgery Management Holdco, LLC First Lien Health Care Providers & Services32,237
Qualus Power Services Corp. First Lien Electric Utilities31,745
Cross Country Healthcare, Inc. First Lien Health Care Providers & Services29,250
CPI Buyer, LLC First Lien Health Care Equipment & Supplies28,767
Onex Baltimore Buyer, Inc. First Lien Health Care Providers & Services28,363
MRI Software, LLC First Lien Software28,093
Material Holdings, LLC First Lien Professional Services26,837
VDM Buyer, Inc. First Lien Chemicals26,230
GraphPAD Software, LLC First Lien Software26,488
Gruden Acquisition, Inc. First Lien Road & Rail25,428
Armada Parent, Inc. First Lien Marine24,665
Epoch Acquisition, Inc. First Lien Health Care Providers & Services24,560
DCA Investment Holdings, LLC First Lien Health Care Providers & Services24,202
Foundation Risk Partners Corp. First Lien Insurance23,891
RWL Holdings, LLC First Lien Air Freight & Logistics23,764
Polymer Additives, Inc. First Lien Chemicals23,584
Galway Borrower, LLC First Lien Insurance22,993
Spireon, Inc. First Lien Transportation Infrastructure22,732
COP Home Services TopCo IV, Inc. First Lien Construction & Engineering22,147
KPSKY Acquisition, Inc. First Lien Commercial Services & Supplies21,475
GCX Corporation Buyer, LLC First Lien Health Care Equipment & Supplies21,431
Canadian Hospital Specialties Ltd. First Lien Health Care Providers & Services21,429
Veregy Consolidated, Inc. First Lien Commercial Services & Supplies21,151
Odyssey Holding Company, LLC First Lien Health Care Providers & Services20,489
Jones Deslauriers Insurance Management, Inc.Second LienInsurance20,295
Integrity Marketing Acquisition, LLCFirst Lien Insurance19,829
Kaufman Hall & Associates, LLCFirst Lien Professional Services19,060
Ascend Buyer, LLCFirst Lien Containers & Packaging18,979
Relativity ODA, LLCFirst Lien Software18,984
Maverick Acquisition, Inc.First Lien Aerospace & Defense18,716
Tetra Technologies, Inc.First Lien Energy Equipment & Services17,789
Linquest Corp.First Lien Aerospace & Defense17,057
Clearview Buyer, Inc.First Lien Professional Services16,946
Guidehouse Holding Corp. – Preferred EquityEquityProfessional Services15,789
Mermaid Equity Co. L.P. – Class A-2 Common UnitsEquitySoftware39,053
West Monroe Partners, LLCFirst Lien Professional Services14,708
ASP Endeavor Acquisition, LLCFirst Lien Professional Services13,766
Edifecs, Inc.First Lien Health Care Technology13,428
NDC Acquisition Corp.First Lien Distributors13,561
GI Ranger Intermediate, LLC First Lien Health Care Technology12,744
L&S Mechanical Acquisition, LLC First Lien Building Products12,499
Spitfire Parent, Inc. First Lien Software11,762
Cambium Holdings, LLC – Senior Preferred Interests Equity Diversified Consumer Services14,480
Turing Holdco, Inc. First Lien IT Services11,859
SpecialtyCare, Inc. First Lien Health Care Providers & Services11,974
Go Car Wash Management Corp. First Lien Diversified Consumer Services10,686
Benefytt Technologies, Inc. First Lien Insurance10,260
Episerver, Inc. First Lien Software9,564
Victory Buyer, LLCSecond LienIndustrial Conglomerates9,522
CCBlue Bidco, Inc. First Lien Health Care Providers & Services9,514
Smile Doctors, LLC First Lien Health Care Providers & Services9,232
Inovalon Holdings, Inc. Second Lien IT Services8,906
Mandolin Technology Intermediate Holdings, Inc. First Lien Software8,557
Project Ruby Ultimate Parent Corp. First Lien Health Care Technology8,548
Sherlock Buyer Corp. First Lien Professional Services8,414
Experity, Inc. First Lien Software8,337
Canadian Hospital Specialties Ltd. Second Lien Health Care Providers & Services8,318
Turing Holdco, Inc. First Lien IT Services8,183
ADCS Clinics Intermediate Holdings, LLC First Lien Health Care Providers & Services8,129
CFGI Holdings, LLC First Lien Professional Services7,488
COP Home Services TopCo IV, Inc. Second Lien Construction & Engineering7,516
BP Purchaser, LLC First Lien Distributors7,239
Dreambox Learning Holding, LLC First Lien Diversified Consumer Services6,944
AI Altius Bidco, Inc. First Lien IT Services6,060
Profile Products, LLC First Lien Paper & Forest Products5,921
Point Broadband Holdings, LLC – Class A UnitsEquityDiversified Telecommunication Services5,877
Capstone Logistics, LLC First Lien Transportation Infrastructure5,627
Mode Holdings, L.P. – Class A-2 Common Units Equity Air Freight & Logistics9,876
CustomInk, LLC – Series A Preferred Units Equity Specialty Retail6,271
Knowledge Pro Buyer, Inc.First LienCommercial Services & Supplies5,105
Jayhawk Buyer, LLCSecond LienHealth Care Providers & Services5,118
SEKO Global Logistics Network, LLC First Lien Air Freight & Logistics5,052
JSS Holdings, Inc. First Lien Commercial Services & Supplies4,962
Marcone Yellowstone Buyer, Inc. First Lien Distributors4,844
GovernmentJobs.com, Inc. First Lien Software4,865
Corfin Holdco, Inc. – Common StockEquityAerospace & Defense9,534
Monk Holding Co. First Lien Software4,744
Trinity Partners Holdings, LLC First Lien Professional Services4,550
Safety Borrower Holdings LP First Lien Transportation Infrastructure4,144
Java Buyer, Inc. First Lien Commercial Services & Supplies3,81
Alera Group, Inc. First Lien Insurance3,676
Mandolin Technology Intermediate Holdings, Inc.Second LienSoftware3,496
OHCP V TC COI, LP. – LP InterestEquityProfessional Services3,500
Mandolin Technology Holdings, Inc.- Series A Preferred SharesEquitySoftware3,601
EIS Acquisition Holdings, LP – Class A Common Units Equity Distributors6,763
PGIS Intermediate Holdings, LLC First Lien Insurance3,289
MHE Intermediate Holdings, LLC First Lien Machinery3,233
Frontline Road Safety Investments, LLC – Class A Common Units Equity Transportation Infrastructure2,627
NC Ocala Co-Invest Beta, L.P. – LP Interest Equity IT Services2,854
Stepping Stones Healthcare Services, LLC First Lien Health Care Providers & Services2,128
SEKO Global Logistics Network, LLC First Lien Air Freight & Logistics2,118
Lobos Parent, Inc. – Series A Preferred Shares Equity Software1,518
Point Broadband Holdings, LLC – Class B Units Equity Diversified Telecommunication Services1,052
AGI Group Holdings LP – A2 Units Equity Air Freight & Logistics970
Mermaid EquityCo L.P. – Class B UnitsWarrantsSoftware7,645
Box Co-Invest Blocker, LLCEquityDistributors702
GCX Corporation Group Holdings, L.P. – Class A-2 Units Equity Health Care Equipment & Supplies500
Connatix Parent, LLC – Class L Common Units Equity Software462
Canadian Hospital Specialties Ltd. (4)(5)(6)(7)(11) – Revolving Term LoanFirst LienHealth Care Providers & Services388
Jayhawk Holdings, LP EquityHealth Care Providers & Services578
Ncp Helix Holdings, LLC. Equity Transportation Infrastructure397,
Deneb Ultimate Topco, LLC Equity Diversified Consumer Services212
Jayhawk Holdings, LP – A-2 Common Units Equity Health Care Providers & Services311
NDC Acquisition Corp. (4)(5)(7)(11) – Revolving Term LoanFirst LienDistributors179
TOTAL PORTFOLIO INVESTMENTS9,958,257
  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. Published March 1, 2022. Private Debt Investor (PDI) selected award winners by researching news sources to compile a list of finalists, vetting those finalists and soliciting votes from readers. Blackstone Credit or its affiliates have not investigated and does not know the makeup of voters. A different set of voters may have achieved different results. Blackstone Credit does not know whether it has been rated by this or any other third party in any way that would conflict with these awards. There may be other categories for which Blackstone Credit, its funds or its portfolio companies were nominated but not awarded. The awards may not be representative of a particular investor’s experience or the future performance of any Blackstone Credit fund or transaction. There is no guarantee that similar awards will be obtained by Blackstone Credit with respect to existing or future funds or transactions. This information is provided solely for informational purposes. It should not be relied upon as any indication of future performance of BXSL or of Blackstone Credit and any of its funds or portfolio companies.
  3. Note: Represents the top six positions in BXSL as of June 30, 2022, 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.