Blackstone’s $83 Billion BCRED Is Selling New Private Credit CLO

Blackstone Inc.’s flagship private credit fund is planning to sell bonds backed by a broad swathe of its $82.5 billion of assets, according to people with knowledge of the matter.

BCRED, the world’s largest business development company, is looking to finalize the collateralized loan obligation deal early next week, the people said, asking not to be identified discussing private information. Proceeds will be used to repay some existing debt, they added.