Blackstone Private Credit Fund 8-K

What Happened
Blackstone Private Credit Fund (BCRED) filed an 8‑K on July 23, 2026 disclosing three main items: (1) the Fund’s net asset value (NAV) as of June 30, 2026, (2) declared July 2026 distributions for each share class, and (3) an unregistered private sale of Class I common shares completed as of July 1, 2026 (final share count confirmed July 22, 2026). The unregistered sale was made under Section 4(a)(2) and/or Regulation S of the Securities Act.

Key Details

• Distributions: On June 22, 2026 the Fund declared a gross distribution of $0.1800 per share for all classes; net amounts are Class I $0.1800, Class S $0.1632 (after $0.0168 fee), Class D $0.1751 (after $0.0049 fee). Record date July 31, 2026; payable on or about August 27, 2026. Payments may be in cash or reinvested.
• NAV and portfolio metrics: NAV per share was $23.65 for Class I, S and D as of June 30, 2026. Aggregate NAV ≈ $42.8 billion; investment portfolio fair value ≈ $77.6 billion; average mark 95.4, bottom 5% of assets marked 63.41.
• Liquidity and leverage: Debt outstanding (principal) ≈ $35.3 billion; available liquidity ≈ $17.0 billion; average debt‑to‑equity leverage for June 2026 ≈ 0.80x. Committed debt capacity ≈ $51.8 billion with ~91% floating rate (61% secured) and ~9% fixed rate (79% unsecured), by drawn amounts.
• Share sales and offering status: The Fund sold 977,626 Class I shares for $23,120,844 in the private sale. BCRED is publicly offering up to $45.0 billion in Shares and, as of this filing, total shares issued across the Offering and Private Offering totaled ~2,245,169,009 shares for ~$57.0 billion (amounts rounded).

Why It Matters
These disclosures give investors current measures of BCRED’s per‑share value, income policy and funding profile. The $0.18 per‑share distribution is a concrete near‑term cash (or reinvestment) return for holders. NAV, portfolio marks (average and bottom 5%), and leverage/liquidity figures show the Fund’s size, how its holdings are valued relative to par, and its borrowing capacity—important for assessing risk and the Fund’s ability to support distributions. The private sale and the ongoing $45.0 billion offering indicate continued capital raising activity, which can affect share supply, liquidity and future asset growth.