Portfolio

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

Data as of September 30, 2022

$9.7B

Investments at Fair Value

97.9%

First Lien Senior Secured

99.9%

of Debt Investments Are Floating Rate

46.6%

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)
Medallia, Inc.First LienSoftware337, 317
Guidehouse, Inc.First Lien Professional Services320,774
Donuts, Inc.First Lien Internet & Direct Marketing Retail320,059
Snoopy Bidco, Inc.First LienHealth Care Providers & Services296,372
Cambium Learning Group, Inc.First LienDiversified Consumer Services 292,841
JSS Holdings, Inc.First LienCommercial Services & Supplies286,638
Stamps.com, Inc.First LienSoftware283,051
Bazaarvoice, Inc.First LienCommercial Services & Supplies229,054
Edifecs, Inc.First LienHealth Care Technology226,311
Navigator Acquiror, Inc.First LienHealth Care Providers & Services198,117
Corfin Holdings, Inc.First LienAerospace & Defense197,876
The NPD Group L.P.First LienSoftware194,180
Mode Purchaser, Inc.First LienAir Freight & Logistics178,829
Genuine Cable Group, LLCFirst LienDistributors178,639
CustomInk, LLCFirst LienSpecialty Retail163,594
Jayhawk Buyer, LLCFirst LienHealth Care Providers & Services154,014
Eagle Midstream Canada Finance, Inc.First LienOil, Gas & Consumable Fuels148,599
The Action Environmental Group, Inc.First LienCommercial Services & Supplies132,431
Livingston International, Inc.First LienAir Freight & Logistics127,887
Integrity Marketing Acquisition, LLCFirst LienInsurance121,782
Lindstrom, LLCFirst LienBuilding Products121,029
Westland Insurance Group LTDFirst LienInsurance105,863
SG Acquisition, Inc.First LienInsurance104,974
Inovalon Holdings, Inc.First LienIT Services104,772
Healthcomp Holding Company, LLCFirst LienHealth Care Providers & Services104,284
Albireo Energy, LLCFirst LienElectronic Equipment, Instruments & Components103,028
ACI Group Holdings, Inc.First LienHealth Care Providers & Services98,307
AGI-CFI Holdings, Inc.First LienAir Freight & Logistics95,673
Jacuzzi Brands, LLCFirst LienBuilding Products94,817
TCFI AEVEX, LLCFirst LienAerospace & Defense93,510
Point Broadband Acquisition, LLCFirst LienDiversified Telecommunication Services92,719
Unified Door & Hardware Group, LLCFirst LienContainers & Packaging92,240
LD Lower Holdings, Inc.First LienSoftware91,303
Frontline Road Safety, LLCFirst LienTransportation Infrastructure86,025
Shoals Holdings, LLCFirst LienElectrical Equipment84,137
Lytx, Inc.First LienTechnology Hardware, Storage & Peripherals81,284
ALKU, LLCFirst LienProfessional Services78,844
Red River Technology, LLCFirst LienIT Services78,115
MAG DS Corp.First LienAerospace & Defense75,015
Italian Motorway Holdings S.à.r.lFirst LienTransportation Infrastructure74,311
Bution Holdco 2, Inc.First LienDistributors73,121
Progress Residential PM Holdings, LLCFirst LienReal Estate Management & Development71,157
NMC Crimson Holdings, Inc.First LienHealth Care Technology69,991
Tennessee Bidco LimitedFirst LienInsurance69,681
R1 Holdings, LLCFirst LienAir Freight & Logistics69,115
Corfin Holdings, Inc.First LienAerospace & Defense68,885
Trinity Air Consultants Holdings Corp.First LienProfessional Services68,176
Cumming Group, Inc.First LienReal Estate Management & Development67,163
SelectQuote, Inc.First LienDiversified Financial Services67,133
Spitfire Parent, Inc.First LienSoftware65,132
Triple Lift, Inc.First LienSoftware64,650
Barbri Holdings, Inc.First LienDiversified Financial Services64,084
Dana Kepner Company, LLCFirst LienDistributors63,140
Jones Deslauriers Insurance Management, Inc.First LienInsurance58,258
Diligent CorporationFirst LienSoftware57,622
High Street Buyer, Inc.First LienInsurance56,593
Tennessee Bidco LimitedFirst LienInsurance55,526
Porcelain Acquisition Corp.First LienSpecialty Retail54,695
Windows Acquisition Holdings, Inc.First LienBuilding Products53,729
Fencing Supply Group Acquisition, LLCFirst LienBuilding Products52,319
Roadsafe Holdings, Inc.First LienTransportation Infrastructure50,877
Relay Purchaser, LLCFirst LienElectrical Equipment49,933
Razor Holdco, LLCFirst LienIT Services46,609
IG Investments Holdings, LLCFirst LienProfessional Services46,600
The Cook & Boardman Group, LLCFirst LienTrading Companies & Distributors46,300
Abaco Energy Technologies, LLCFirst LienEnergy Equipment & Services45,874
Blackstone Donegal Holdings LP – LP Interests (Westland Insurance Group LTD)EquityInsurance45,183
Emergency Power Holdings, LLCFirst LienDiversified Telecommunication Services43,595
AxiomSL Group, Inc.First LienSoftware41,741
Sam Holding Co, Inc.First LienTransportation Infrastructure41,653
Other Holdings Less Than 1% Of Portfolio (155 holdings)Misc.Misc.1,695,921
TOTAL PORTFOLIO INVESTMENTS9,803,301
  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.