Blackstone Expands Leadership Team in Growing Private Credit Business
January 10 2023 - 8:00AM
Business Wire
Blackstone (NYSE: BX) today announced that Brad Marshall, who
has been leading the firm’s direct lending efforts for nearly 17
years, has been promoted to Global Head of Private Credit
Strategies (PCS), adding to his role as Chairman and co-CEO of the
firm’s two business development companies (BDCs), Blackstone
Private Credit Fund (BCRED) and Blackstone Secured Lending Fund
(NYSE: BXSL). Jonathan Bock, formerly the CEO of Barings BDC and a
top ranked Equity Analyst at Wells Fargo, has joined the firm to
serve alongside Brad as Co-CEO of the firm’s BDCs.
The new leadership roles correspond with the significant
expansion of Blackstone Credit, where total assets under management
have grown 135% over the past five years to $234 billion. PCS makes
up approximately half of Blackstone Credit’s business today and
includes the BDCs.
Dwight Scott, Global Head of Blackstone Credit, said:
“Blackstone Credit and our BDCs have seen extraordinary growth over
the past five years. Elevating Brad and adding Jonathan to our
leadership team will help us continue to meet the strong customer
demand for private credit strategies globally. Our BDC portfolios
have broad exposure across sectors, comprising primarily senior
secured, floating rate debt, and we believe they are well
positioned for the current environment.”
Brad Marshall said: “Jonathan is a long-time friend and an
exceptional thought leader in the BDC space, and I’m delighted to
have his partnership as we continue to expand our business.
Blackstone Credit’s tremendous growth in the last five years, when
combined with the secular shift towards private credit and a very
attractive market opportunity today, create a platform design that
will benefit from Jonathan’s knowledge and experience.”
Jonathan Bock added: “Blackstone is a global leader in private
credit and a company I’ve long admired. I’m excited to join the
world-class team and help build on the successful platform they’ve
created.”
Jonathan Bock Bio:
Prior to joining Blackstone, Jonathan was CEO of Barings BDC. In
addition to this role, he served as Co-CEO and President of Barings
Private Credit Corporation, and Chief Financial Officer of Barings
Capital Investment Corporation, Barings Corporate Investors, and
Barings Participation Investors. Prior to joining Barings in July
2018, Jonathan was a Managing Director and Senior Equity Analyst at
Wells Fargo Securities specializing in BDCs. He has actively
followed the BDC space since 2006 and was the chief author of a
leading BDC quarterly research publication: the BDC Scorecard.
Jonathan holds a bachelor’s degree in finance from the University
of Illinois College of Business and is a member of the CFA
Institute.
About Blackstone Credit:
Blackstone Credit is one of the world's largest credit-focused
asset managers, with $234 billion in AUM. We seek to generate
attractive risk-adjusted returns for our clients by investing
across the entire corporate credit market, from public debt to
private loans. Our capital supports a wide range of companies
across sectors and geographies, enabling businesses to expand,
invest, and navigate changing market environments.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230110005433/en/
Kate Holderness, Blackstone Kate.holderness@blackstone.com
646-482-8774
Blackstone (NYSE:BX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Blackstone (NYSE:BX)
Historical Stock Chart
From Apr 2023 to Apr 2024