Portfolio
Predominantly comprised of floating rate senior secured loans across a diverse group of sectors and issuers.
Data as of September 30, 2024
$12.0B
Investments at Fair Value
98.7%
First Lien Senior Secured
98.8%
of Debt Investments Are Floating Rate
46.5%
Loan-to-Value Ratio(1)
Portfolio Snapshot
Asset Type
Top Industries (at FMV)(2)
Geography
Issuer Concentration
Featured Portfolio Companies(3)
Genuine Cable Group, LLC
Distributors
JSSI (JSS Holdings, Inc.)
Commercial Services & Supplies
United Vet Care Holdings “UVC”
Health Care Providers & Services
Westland (Westland Insurance Group LTD)
Insurance
Guidehouse
Professional Services
Medallia
Software
Top Portfolio Holdings
| Company | Asset Type | Sector | Fair Value ($ in thousands) |
|---|---|---|---|
| Medallia, Inc. | First Lien | Software | 358,681 |
| United Veterinary Care | First Lien | Health Care Providers & Services | 332,060 |
| Identity Digital (fka Donuts) | First Lien | Internet & Direct Marketing Retail | 316,711 |
| Guidehouse, Inc. | First Lien | Professional Services | 310,214 |
| Cambium Learning Group, Inc. | First Lien | Diversified Consumer Services | 286,925 |
| JSS Holdings, Inc. | First Lien | Commercial Services & Supplies | 285,683 |
| Stamps.com, Inc. | First Lien | Software | 278,068 |
| Corfin Holdings, Inc. | First Lien | Aerospace & Defense | 264,744 |
| Bazaarvoice Inc. | First Lien | Commercial Services & Supplies | 239,567 |
| Edifecs Inc. | First Lien | Health Care Technology | 232,292 |
| Newport Academy | First Lien | Health Care Providers & Services | 215,795 |
| Circana Group, L.P. | First Lien | Software | 205,722 |
| CustomInk, LLC | First Lien | Specialty Retail | 163,594 |
| Genuine Cable Group, LLC | First Lien | Distributors | 161,505 |
| AEVEX Aerospace | First Lien | Aerospace & Defense | 156,802 |
| Davies Group | First Lien | Insurance | 153,681 |
| Integrity | First Lien | Insurance | 150,989 |
| ProPharma Group | First Lien | Health Care Providers & Services | 144,101 |
| SunteckTTS | First Lien | Air Freight & Logistics | 142,606 |
| Safe-guard | First Lien | Insurance | 132,471 |
- 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.
- 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.
- 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.