Blackstone Private Credit Fund
Blackstone Private Credit Fund honored 49.88% of $4,262,072,581 requested in Q4 2026, per its SC TO-I/A filed 2026-11-02.
- Fund
- Blackstone Private Credit Fund
- Type
- Non-traded BDC
Most recent quarter
Every figure above was read from this filing: SC TO-I/A filed .
How we read this filing
The filing’s own words
Verbatim sentences from the SC TO-I/A filed Nov 2, 2026 . Each figure on this page traces to one of them.
181,287,647 Shares of the Fund were validly tendered and not withdrawn prior to the expiration of the Offer.
The Fund accepted for purchase 90,421,325 Shares on a pro rata basis and in accordance with the terms of the Offer, representing 5% of the Shares of the Fund outstanding as of June 30, 2026.
Pursuant to the promissory notes, the Fund paid on or about October 28, 2026 to the tendering Shareholders a total of $2,125,655,078 representing the net asset value of the total amount of the Shares accepted for purchase, less the early repurchase deduction, as applicable.
The Shares were repurchased at a price of $23.51 per Share as of 4:00 p.m., Eastern Time, on the Valuation Date.
Checks we ran
Each extracted figure is cross-checked against the others before anything is published. A filing that fails a check is not estimated — it is listed as one we could not read.
| Check | Result | Detail |
|---|---|---|
| nav_per_share_stated | Passed | The filing states the per-Share figure outright: $23.51 per Share. Requested = 181,287,647 shares × $23.51 = $4,262,072,581. |
| shares_accepted_within_tendered | Passed | 90,421,325 shares accepted vs 181,287,647 tendered. A fund cannot accept more than was offered to it. |
| honored_pct_in_range | Passed | Honored 49.88% of shares tendered. |
| requested_usd_plausible | Passed | Requested $4,262,072,581 — at or above the $1,000,000 scale floor. |
| honored_not_above_requested | Passed | Honored $2,125,655,078 of $4,262,072,581 requested. |
| shares_x_nav_matches_paid | Passed | 90,421,325 shares accepted x $23.51 NAV/share = $2,125,805,351, against $2,125,655,078 the filing says was paid (0.01% apart, measured against the larger, gross side). |
| dollars_consistent_with_shares | Passed | Dollars honored are 49.87% of dollars requested, against 49.88% of shares. These describe the same event and must agree to within 5 points (the gap is the early repurchase deduction). |
| implied_nav_per_share_agrees | Passed | The request implies $23.51 a share ($4,262,072,581 / 181,287,647); what was honored implies $23.51 ($2,125,655,078 / 90,421,325). Every share in one offer is priced at the same net asset value, so these must agree. |
| implied_nav_per_share_plausible | Passed | The implied net asset value is $23.51 a share. A non-traded BDC prices in the tens of dollars; a figure far outside that is a misread, not a discovery. |
How we built this list, and what we exclude — the derivation of the fund list, the cross-checks every figure has to pass, and the funds that are deliberately absent.
Repurchase history
Every quarter of this fund for which a result could be read from a filing, newest first. Each row cites the document it came from.
| Period | Honored % | Requested | Honored | Source filing |
|---|---|---|---|---|
| Q4 2026 | 49.88% Prorated | $4.3bn | $2.1bn | SC TO-I/A · |
| Q3 2026 | 48.54% Prorated | $4.5bn | $2.2bn | SC TO-I/A · |
| Q2 2026 | 100.00% Honored in full | $3.2bn | $3.2bn | SC TO-I/A · |
| Q1 2026 | 100.00% Honored in full | $2.1bn | $2.1bn | SC TO-I/A · |
| Q4 2025 | 100.00% Honored in full | $794m | $794m | SC TO-I/A · |
| Q3 2025 | 100.00% Honored in full | $1.1bn | $1.1bn | SC TO-I/A · |
| Q2 2025 | 100.00% Honored in full | $581m | $581m | SC TO-I/A · |
| Q1 2025 | 100.00% Honored in full | $531m | $531m | SC TO-I/A · |
Source: this fund’s own filings on SEC EDGAR (Schedule TO-I and its amendments). “Honored in full” means every share validly tendered was repurchased; “prorated” means a share of each request was.