Portfolio

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

Data as of June 30, 2024

$12.0B

Investments at Fair Value

98.7%

First Lien Senior Secured

98.8%

of Debt Investments Are Floating Rate

46.5%

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)
Medallia, Inc.First LienSoftware366,184
United Veterinary CareFirst LienHealth Care Providers & Services325,239
Identity Digital (fka Donuts)First LienInternet & Direct Marketing Retail317,534
Guidehouse, Inc.First LienProfessional Services309,363
Cambium Learning Group, Inc.First LienDiversified Consumer Services287,664
JSS Holdings, Inc.First LienCommercial Services & Supplies286,421
Stamps.com, Inc.First LienSoftware278,782
Corfin Holdings, Inc.First LienAerospace & Defense265,625
Bazaarvoice Inc.First LienCommercial Services & Supplies240,183
Edifecs Inc.First LienHealth Care Technology231,280
Newport AcademyFirst LienHealth Care Providers & Services220,613
Circana Group, L.P.First LienSoftware206,855
CustomInk, LLCFirst LienSpecialty Retail163,594
Genuine Cable Group, LLCFirst LienDistributors161,921
AEVEX AerospaceFirst LienAerospace & Defense157,207
IntegrityFirst LienInsurance151,008
ProPharma GroupFirst LienHealth Care Providers & Services145,242
SunteckTTSFirst LienAir Freight & Logistics143,323
Safe-guardFirst LienInsurance136,345
Davies GroupFirst LienInsurance130,103
  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.