Blackstone’s BCRED Sells $450 Million Private Credit CLO (1)

Blackstone Inc.’s flagship private credit fund has sold a new collateralized loan obligation deal, finding enough demand for the debt to boost its size by $50 million, according to a person familiar with the matter.

The fund, known as BCRED, was able to upsize the bond sale to about $450 million, from $400 million, the person said, declining to be identified discussing private details. Unlike most CLOs, the deal is a so-called “static” transaction, with cash flows from a fixed pool of loans rather than an actively traded portfolio.

The largest portion of the offering, rated AAA, was ...