Blackstone Private Credit Fund, a non-traded business development company sponsored by private equity giant Blackstone (NYSE: BX), has declared a special distribution for each class of its shares.
According to a filing with the Securities and Exchange Commission, the precise amount will be determined next month and will equal the fund’s estimated undistributed net investment income as of December 21, 2021.
The special distribution will be paid in cash or reinvested in shares around December 22, 2021 to shareholders of record as of December 21, 2021.
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.