Blackstone’s BCRED Private Debt Fund Pulls Bond Sale Amid Delays

Blackstone’s flagship private credit fund withdrew a planned $500 million investment-grade bond sale expected to price Tuesday due to administrative delays, according to people familiar with the matter.

The deal was intended to be registered with the US Securities and Exchange Commission, allowing the fund, known as BCRED, to tap into a broader audience of investors than blue-chip bond offerings that skip regulatory approval. The delays were tied to getting the SEC’s sign off, said the people, who asked not to be identified because they’re not authorized to speak publicly.

The hold up was not the result of issues related ...