Blackstone Alternative Credit Advisors LP 4

What Happened
BCRED X Holdings LLC, a reporting 10% owner of Blackstone Private Real Estate Credit & Income Fund, made two purchases on March 20, 2026. The filings show purchases of 1,912,045.889 shares at $26.15 each for $50,000,000 and 956,022.945 shares at $26.15 each for $25,000,000 — a total of 2,868,068.834 shares purchased for $75,000,000. These were purchases (transaction code P), which investors often view as a positive signal compared with insider sales, though it does not guarantee future performance.

Key Details

• Transaction date: March 20, 2026 (reported on Form 4 filed March 23, 2026). Transaction code: P (purchase).
• Prices and amounts:
  • 1,912,045.889 shares @ $26.15 = $50,000,000
  • 956,022.945 shares @ $26.15 = $25,000,000
  • Total: 2,868,068.834 shares for $75,000,000
• Shares owned after transaction: Not specified in the information provided in this summary.
• Footnotes: F1–F6 describe that BCRED X directly holds the common shares; additional Blackstone-affiliated funds and entities (including BMACX and various Blackstone advisors/parent entities) are referenced; affiliates disclaim beneficial ownership except to the extent of pecuniary interest. Multiple related reporting persons filed separate Forms 4 due to EDGAR filing limits.
• Timeliness: Filed March 23, 2026 for a March 20 transaction. This filing appears timely (within the SEC two-business-day reporting window).

Context
BCRED X is an institutional, affiliated Blackstone entity (not an individual executive). The purchases were reported as open-market or private purchases (code P) and reflect holdings activity by a large Blackstone affiliate rather than a personal trade by a company officer.