Blackstone Strategic Credit Fund
BGB
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- Blackstone Strategic Credit 2027 Term Fund (NYSE: BGB) is a diversified, closed-end management investment company with a limited term that seeks high current income through investments in a portfolio of loans and other fixed income instruments of predominantly U.S. corporate issuers; it primarily targets first- and second-lien secured loans, high-yield corporate bonds of varying maturities, structured credit, and related derivatives, maintaining at least 80% of managed assets in such credit investments across diversified sectors including healthcare, software, energy, and consumer services; approximately 90% of its portfolio consists of floating-rate debt for interest rate resilience. Launched on September 26, 2012 and domiciled in the United States, the fund is managed by GSO / Blackstone Debt Funds Management LLC, part of Blackstone Credit & Insurance (BXCI), and headquartered at 345 Park Avenue, 31st Floor, New York, New York 10154. As of September 30, 2025, top holdings include first-lien loans to Global Medical Response Inc. (1.02%), Allied Universal Holdco LLC (0.92%), and Hyperion Insurance/Howden (0.70%), with a diversified portfolio of over 600 positions emphasizing senior secured loans across multiple industries. The fund employs leverage through credit facilities and mandatory redeemable preferred shares, benchmarking performance against a composite of 75% S&P/LSTA Leveraged Loan Index and 25% Barclays US High Yield Index; it plans to dissolve on or about September 15, 2027 absent shareholder extension. In recent developments, Blackstone Credit announced trustee and officer changes for its closed-end funds including BGB in early 2025; the firm also backed Brigade Capital's private credit strategy with a $300 million investment in November 2024, signaling broader strategic expansions in credit markets.