Blackstone Private Credit Fund, a non-traded business development company sponsored by private equity giant Blackstone (NYSE: BX), has declared its monthly net asset value per share for September 2021.
Class I, Class S, and Class D shares had an NAV per share of $25.90 as of September 30, 2021, compared to $25.84 the previous month.
As of September 30, 2021, the BDC’s aggregate NAV was $8.5 billion, the fair value of its investment portfolio was $17.7 billion and it had $8.8 billion of debt outstanding (net of unamortized debt issuance costs), resulting in a debt-to-equity leverage ratio of approximately 1.04 times.
This compares to the previous month when the fund’s aggregate NAV was $7.1 billion, the fair value of its investment portfolio was $15.9 billion and it had $8.2 billion of debt outstanding, resulting in a debt-to-equity leverage ratio of approximately 1.15 times.
On October 25, 2021, the fund declared regular gross distributions for each class of $0.1740 per share. Less the stockholder servicing fee, Class S shares received net distributions of $0.1557 per share, and Class D received $0.1686 per share.
Blackstone Private Credit Fund is the industry’s first perpetual-life BDC and broke escrow on January 7, 2021. The fund is part of Blackstone Credit’s direct lending platform, which provides privately originated, senior secured, floating rate loans to U.S. and European middle market companies. Since inception, the BDC has raised nearly $9.4 billion, as of September 2021.