Blackstone Private Credit Fund: Unregistered Share Sale and Sept Distributions

What Happened

• Blackstone Private Credit Fund filed an 8‑K on September 22, 2026, reporting (1) an unregistered sale of Class I common shares as part of a private offering, (2) declaration of September 2026 distributions for its share classes, and (3) its net asset value (NAV), portfolio fair value, leverage and offering status as of August 31, 2026.
• The private sale occurred as of September 1, 2026 (finalized September 21, 2026): 150,127 Class I shares for $3,543,000. The Fund continues a public Offering (up to $45.0 billion) and ongoing Private Offering activity.

Key Details

• Unregistered sale: 150,127 Class I shares sold for $3,543,000 (sale date Sept 1, finalized Sept 21, 2026).
• Distributions declared Sept 21, 2026: gross $0.1800 per share for all classes; net per share — Class I $0.1800, Class S $0.1633 (after $0.0167 servicing fee), Class D $0.1751 (after $0.0049 fee). Record date Sept 30, 2026; payable on/about Oct 27, 2026. Cash or reinvestment available.
• NAV and balance sheet (as of Aug 31, 2026): NAV per share $23.60 for all classes; aggregate NAV ≈ $43.2 billion; investment portfolio fair value ≈ $76.4 billion; debt outstanding (principal) ≈ $35.8 billion; average debt‑to‑equity leverage ~0.84x in August 2026.
• Offering totals (as of filing): total Shares issued across Offering and Private Offering ≈ 2,252,861,196 representing about $57.2 billion in consideration. Offering breakdown includes 731,932,508 Class I shares ($18.5B) in the public Offering and 893,427,398 Class I shares ($22.7B) in the Private Offering.

Why It Matters

• Income: The declared distributions (paid in cash or reinvested) are the immediate cash return to shareholders and are actionable for holders around the Sept 30 record date.
• Scale and leverage: The NAV, portfolio fair value and $35.8B of debt detail the Fund’s size and leverage profile; the reported ~0.84x debt‑to‑equity is a key metric for risk/return assessment.
• Capital raising: Continued public and private share sales (including the unregistered Class I sale) affect share count and capital available for investments, which can influence future distributions and portfolio growth.
• No management changes or earnings releases were reported in this filing — the 8‑K focuses on distributions, valuation and financing/offering status.