Portfolio

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

Data as of December 31, 2023

$9.9B

Investments at Fair Value

98.5%

First Lien Senior Secured

99.9%

of Debt Investments Are Floating Rate

48.2%

Loan-to-Value Ratio1

Portfolio Snapshot

Asset Type

Top Industries (at FMV)(4)

Geography

Issuer Concentration

Featured Portfolio Companies3

JSSI (JSS Holdings, Inc.)

Commercial Services & Supplies

United Vet Care Holdings “UVC”

Health Care Providers & Services

Guidehouse

Professional Services

Medallia

Software

Portfolio Holdings

CompanyAsset TypeSectorFair Value
($ in thousands)
Medallia, Inc.First LienSoftware348,477
Donuts, Inc.First LienInternet & Direct Marketing Retail318,430
Guidehouse, Inc.First Lien Professional Services318,222
Snoopy Bidco, Inc.First LienHealth Care Providers & Services290,287
Cambium Learning Group, Inc.First LienDiversified Consumer Services 291,362
JSS Holdings, Inc.First LienCommercial Services & Supplies285,087
Stamps.com, Inc.First LienSoftware280,191
Bazaarvoice, Inc.First LienCommercial Services & Supplies228,477
Edifecs, Inc.First LienHealth Care Technology220,787
Navigator Acquiror, Inc.First LienHealth Care Providers & Services185,783
Corfin Holdings, Inc.First LienAerospace & Defense194,902
Genuine Cable Group, LLCFirst LienDistributors175,943
Mode Purchaser, Inc.First LienAir Freight & Logistics172,975
CustomInk, LLCFirst LienSpecialty Retail163,586
Jayhawk Buyer, LLCFirst LienHealth Care Providers & Services141,589
Integrity Marketing Acquisition, LLCFirst LienInsurance140,544
The Action Environmental Group, Inc.First LienCommercial Services & Supplies142,648
Livingston International, Inc.First LienAir Freight & Logistics127,239
The NPD Group L.P.First LienSoftware121,859
Lindstrom, LLCFirst LienBuilding Products120,512
Westland Insurance Group LTDFirst LienInsurance122,351
Inovalon Holdings, Inc.First LienInsurance105,921
SG Acquisition, Inc.First LienIT Services104,974
ACI Group Holdings, Inc.First LienHealth Care Providers & Services104,567
Point Broadband Acquisition, LLCFirst LienDiversified Telecommunication Services101,470
TCFI AEVEX, LLCFirst LienAerospace & Defense104,977
Albireo Energy, LLCFirst LienElectronic Equipment, Instruments & Components99,518
AGI-CFI Holdings, Inc.First LienAir Freight & Logistics94,228
Jacuzzi Brands, LLCFirst LienBuilding Products94,343
LD Lower Holdings, Inc.First LienSoftware90,840
Frontline Road Safety, LLCFirst LienTransportation Infrastructure86,005
Shoals Holdings, LLCFirst LienElectrical Equipment83,706
Italian Motorway Holdings S.à.r.lFirst LienTransportation Infrastructure83,910
Lytx, Inc.First LienTechnology Hardware, Storage & Peripherals83,820
Red River Technology, LLCFirst LienIT Services80,581
Healthcomp Holding Company, LLCFirst LienHealth Care Providers & Services108,056
ALKU, LLCFirst LienProfessional Services74,704
NMC Crimson Holdings, Inc.First LienHealth Care Technology75,040
MAG DS Corp.First LienAerospace & Defense74,611
The NPD Group L.P.First LienSoftware74,210
Eagle Midstream Canada Finance, Inc.First LienOil, Gas & Consumable Fuels74,089
Bution Holdco 2, Inc.First LienDistributors72,496
Cumming Group, Inc.First LienProfessional Services79,082
Progress Residential PM Holdings, LLCFirst LienReal Estate Management & Development71,157
Corfin Holdings, Inc.First LienAerospace & Defense67,702
SelectQuote, Inc.First LienDiversified Financial Services66,921
Trinity Air Consultants Holdings Corp.First LienProfessional Services67,079
Other Holdings Less Than 1% Of Portfolio (155 holdings)Misc.Misc.1,695,921
TOTAL PORTFOLIO INVESTMENTS9,729,227

  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, 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.
  4. 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.