Blackstone Private Credit Fund Posts $322M in New Share Sales

The fund reports $47.8B in NAV and maintains strong leverage metrics amid continued public and private offerings.

November 21, 2025

Capital Raise Adds Over $322 Million from Private Share Sales

Blackstone Private Credit Fund is keeping pace with strong investor demand. As of November 19, 2025, the fund completed a private sale of nearly 12.9 million Class I common shares, raising more than $322 million. These shares were sold under exemptions that allow for efficient capital raising without the delays of registration.

At the end of October, the fund’s net asset value reached approximately $47.8 billion, with the NAV per share for Class I, S, and D all coming in at $24.94. The total investment portfolio was valued at $78.8 billion, supported by $33.1 billion in debt outstanding. That translates to a leverage ratio of approximately 0.66x —a measured position for managing risk while scaling exposure.

Funding sources are diversified. The fund draws capital through a mix of:

• Corporate revolvers (12%)


• Asset-based credit facilities (35%)


• Unsecured bonds (34%)


• Secured short-term debt (1%)


• CLO and other secured instruments (18%)

Roughly 90% of leverage is floating rate, with much of the fixed-rate exposure hedged using swaps. This structure allows the fund to remain responsive to rate moves and broader market conditions.

November Distributions and Ongoing Offerings

Monthly distributions are also locked in. The fund declared gross distributions of $0.20 per share across all share classes. After accounting for servicing and distribution fees, net payments will be:

• $0.20 for Class I


• $0.1948 for Class D


• $0.1823 for Class S

These will be paid in late December to shareholders of record as of November 30, with the option to reinvest through the fund’s distribution reinvestment plan.

Fundraising Momentum Continues

The public offering—targeting up to $45 billion in total capital—continues on a monthly basis. The fund is also running a parallel private offering. Altogether, more than 2.14 billion shares have been issued across offerings, with total capital raised reaching $54.4 billion.

Class I shares remain the dominant share class, driving the bulk of both public and private placements. The breakdown reflects a strategic approach to fundraising, with a steady cadence of capital deployment and reinvestment activity.

Blackstone Private Credit Fund continues to scale its operations through a mix of consistent investor inflows, regular distributions, and diversified leverage. With each monthly cycle, the fund reinforces its model—structured, disciplined, and built for growth.