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Blackstone Private Multi-Asset Credit and Income Fund (BMACX)

One-stop solution designed to access Blackstone’s leading credit platform [ 1 ]

$15.22

Net asset value per share [ 2 ]

as of August 06, 2025

$0.0961

July distribution per share [ 3 ]

as of July 31, 2025

3.3%

Inception to date total return (unannualized) [ 4 ]

as of July 31, 2025

Private Credit Markets
are Rapidly Growing
Private Credit Markets
are Rapidly Growing

In our view, there’s a $30T+ opportunity in private credit markets ahead that can continue to drive tremendous growth and opportunity for our clients. [ 6 ]

Financing the Real Economy

Assets under management [ 7 ]

$465B

Track record [ 8 ]

25yr+

Issuers across portfolios [ 9 ]

4,900+

Green Fields

Private Corporate Credit

Privately originated and negotiated debt financing across the capital structure

Asset Based & Real Estate Credit

Loans and other credit instruments generally secured by physical and financial assets as collateral

Structured Credit

Diversified pool of income-producing assets structured to provide excess and customized risk and return

Liquid Credit

Debt issued through bank-led syndications such as broadly syndicated loans, investment grade and high yield bonds

Blackstone in the News
Blackstone in the News

Hear from Blackstone leaders on why they believe the dynamics driving investor demand for private credit remain durable, today and for the long term.

Learn More
BMACX News and Insights Mock

Why Invest in BMACX

Why Blackstone

Important Disclosure Information

Summary of Risk Factors

Blackstone Private Multi-Asset Credit and Income Fund (“BMACX” or the “Fund”) is a non-diversified, closed-end management company that is registered under the Investment Company Act of 1940, as amended, and operates as an interval fund. The Fund expects to be invested in across private corporate credit, asset based and real estate credit, structured credit, and liquid credit. This investment involves a high degree of risk. You should purchase shares of our common stock (“Common Shares”) only if you can afford a complete loss of your investment. You should read the prospectus carefully for a description of the risks associated with an investment in the Fund. Some of the more significant risks relating to an investment in our Common Shares include the following:

  • There is no assurance that we will achieve our investment objectives.

  • You should not expect to be able to sell all or most of your Common Shares regardless of how we perform.

  • You should consider that you may not have access to the money you invest for an extended period of time.

  • We do not intend to list our Common Shares on any securities exchange, and we do not expect a secondary market in our Common Shares to develop prior to any listing.

  • Because you may be unable to sell your Common Shares, you may be unable to reduce your exposure in any market downturn.

  • We have elected to operate as an “interval fund” and will make quarterly repurchase offers, but only a limited number of Common Shares will be eligible for repurchase and the need to fund repurchase obligations may affect our ability to be fully invested or force us to maintain a higher percentage of assets in liquid investments, which may harm our investment performance.

  • An investment in the Fund is suitable only for investors who can bear the risks associated with limited liquidity. See “Share Repurchase Program” in the prospectus.

  • You will bear substantial fees and expenses in connection with your investment. See “Fees and Expenses” in the prospectus.

  • We cannot guarantee that we will make distributions, and if we do, we may fund such distributions from sources other than net investment income, including the sale of assets, borrowings, return of capital or offering proceeds, and although we generally expect to fund distributions from net investment income, we have not established limits on the amounts we may pay from such sources. A return of capital is not paid from tax earnings or profits and will have the effect of reducing the tax basis of a shareholder’s Common Shares, such that when a shareholder sells its Common Shares the sale may be subject to tax, even if the Common Shares are sold for less than the original purchase price.

  • Distributions may also be funded in significant part, directly or indirectly, from temporary waivers or expense reimbursements borne by our adviser, Blackstone Private Credit Strategies LLC (the “Adviser”) or its affiliates, that may be subject to reimbursement to the Adviser or its affiliates. The repayment of any amounts owed to our affiliates will reduce future distributions to which you would otherwise be entitled.

  • The Fund intends to utilize leverage and may utilize leverage to the maximum extent permitted by law for investment and other general corporate purposes, which will magnify the potential for loss on amounts invested in the Fund. See “Leverage,” “Risks—Leverage Risk” and “Description of Shares—Preferred Shares” in the prospectus.

  • We intend to invest in securities that are rated below investment grade by rating agencies or that would be rated below investment grade if they were rated. Below investment grade securities, which are often referred to as “junk,” have predominantly speculative characteristics with respect to the issuer’s capacity to pay interest and repay principal. They may also be illiquid and difficult to value.

This website must be read in conjunction with the BMACX prospectus in order to fully understand all the implications and risks of an investment in BMACX. This website is neither an offer to sell nor a solicitation of an offer to buy securities. An offering is made only by the prospectus, which must be made available to you prior to making a purchase of shares in connection with this offering and is available at https://www.bmacx.com/prospectus. Prior to making an investment, investors should read the prospectus, including the “Risk Factors” section therein, which contains a discussion of the risks and uncertainties that we believe are material to our business, operating results, prospects and financial condition.

Numerical data is approximate and as of March 31, 2025, unless otherwise noted. The words “we”, “us”, and “our” refer to BMACX, unless the context requires otherwise.

Forward Looking Statements

Certain information contained in this communication constitutes “forward -looking statements,” which can be identified by the use of forward-looking terminology or the negatives thereof. These may include financial predictions estimates and their underlying assumptions, statements about plans, objectives and expectations with respect to future operations, and statements regarding future performance. Such forward‐looking statements are inherently uncertain and there are or may be important factors that could cause actual outcomes or results to differ materially from those indicated in such statements. Blackstone believes these factors include but are not limited to those described under the section entitled “Risk Factors” in its Annual Report on Form 10‐K for the most recent fiscal year ended December 31 of that year, and any such updated factors included in its periodic filings with the Securities and Exchange Commission, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the Materials and in the filings. Blackstone undertakes no obligation to publicly update or review any forward‐looking statement, whether as a result of new information, future developments or otherwise.

Blackstone Securities Partners L.P. (“BSP”) is a broker-dealer whose purpose is to distribute Blackstone managed or affiliated products. BSP provides services to its Blackstone affiliates, not to investors in its funds, strategies or other products. BSP does not make any recommendation regarding, and will not monitor, any investment. As such, when BSP presents an investment strategy or product to an investor, BSP does not collect the information necessary to determine—and BSP does not engage in a determination regarding—whether an investment in the strategy or product is in the best interests of, or is suitable for, the investor. You should exercise your own judgment and/or consult with a professional advisor to determine whether it is advisable for you to invest in any Blackstone strategy or product. Please note that BSP may not provide the kinds of financial services that you might expect from another financial intermediary, such as overseeing any brokerage or similar account. For financial advice relating to an investment in any Blackstone strategy or product, contact your own professional advisor.

Blackstone Credit & Insurance analysis of company earnings presentations and calls, as of June 30, 2025 and latest publicly available data of Blackstone Credit & Insurance peers.
The NAV per share for each class of Common Shares is determined by dividing the value of total assets attributable to the class minus liabilities attributable to the class by the total number of Common Shares outstanding of the class at the date as of which the determination is made. Accruals will occur daily, provided, however, that accruals on any non-business day will be effective as of the immediately preceding business day. See the prospectus for more information.
Distributions reflect monthly distribution amounts per share of Class I, Class I Advisory and Class S Common Shares, respectively. We expect to declare distributions daily and pay regular monthly distributions. Accruals will occur daily, provided, however that accruals on Saturdays and Sundays will be effective as of the preceding Friday. Past performance does not predict future returns. Distributions may be funded through sources other than net investment income. See BMACX’s prospectus. Please visit the Shareholders page on BMACX’s website for notices regarding distributions subject to Section 19(a) of the Investment Company Act of 1940. We cannot guarantee that we will make distributions, and if we do we may fund such distributions from sources other than net investment income, including the sale of assets, borrowings, return of capital, or offering proceeds, and although we generally expect to fund distributions from net investment income, we have not established limits on the amounts we may pay from such sources.  As of July 31, 2025, 100% of inception to date distributions were funded from net investment income or realized short-term capital gains, rather than a return of capital. A return of capital is not paid from tax earnings or profits and will have the effect of reducing the tax basis of a shareholder’s Common Shares, such that when a shareholder sells its Common Shares the sale may be subject to tax, even if the Common Shares are sold for less than the original purchase price. Distributions may also be funded in significant part, directly or indirectly, from temporary waivers or expense reimbursements borne by BMACX’s adviser, Blackstone Private Credit Strategies LLC (the “Adviser”) or its affiliates, that may be subject to reimbursement to the Adviser or its affiliates. The repayment of any amounts owed to our affiliates will reduce future distributions to which you would otherwise be entitled.
Inception date for Class I shares: May 1, 2025. Inception date for Class I Advisory and Class S shares: July 1, 2025. Total Net Return is calculated as the change in NAV per share during the period, plus distributions per share (assuming dividends and distributions are reinvested) divided by the beginning NAV per share. Returns greater than one year are annualized. All returns shown are derived from unaudited financial information and are net of all BMACX expenses, including general and administrative expenses, transaction related expenses, management fees, incentive fees, and share class specific fees, as applicable, but exclude the impact of early repurchase deductions on the repurchase of shares that have been outstanding for less than one year. Past performance does not predict future returns. There can be no assurance that any Blackstone fund or investment will achieve its objectives or avoid substantial losses. The returns have been prepared using unaudited data and valuations of the underlying investments in BMACX’s portfolio, which are estimates of fair value and form the basis for BMACX’s NAV. Valuations based upon unaudited reports from the underlying investments may be subject to later adjustments, may not correspond to realized value and may not accurately reflect the price at which assets could be liquidated.
This material reflects the views of Blackstone Inc. (“Blackstone”) as of the date appearing in the material only. The words “we,” “us,” and “our” in the material refer to Blackstone, unless the context requires otherwise. BMACX is advised by Blackstone Private Credit Strategies LLC (the “Adviser”), an affiliate of Blackstone Alternative Credit Advisors LP (collectively with its affiliates in the credit, asset based finance and insurance asset management business unit of Blackstone, “Blackstone Credit & Insurance” or “BXCI”). An investment in BMACX is not an investment in Blackstone or BXCI as BMACX is a separate and distinct legal entity. The material is provided for informational purposes only, and under no circumstances may any information contained in the material be construed as investment advice or an offer to sell or a solicitation of an offer to purchase (or any marketing in connection thereof) any interest in any investment vehicles managed by Blackstone or its affiliates. Certain market insights included in the material may not be relevant to BMACX and should not be interpreted as the view of BMACX or as an indication of BMACX’s future positioning. The positioning of Blackstone’s global credit-focused portfolio is different from BMACX’s portfolio positioning, and certain investment examples described in the material may be owned by vehicles and by certain other third-party equity partners, and not BMACX.
McKinsey & Company, The Next Era of Private Credit, September 2024.
AUM is a combined figure inclusive of Blackstone Credit & Insurance “BXCI” and Real Estate Debt businesses.
There can be no assurance that any Blackstone fund or investment will achieve its objectives or avoid substantial losses. Not all strategies have been in existence at Blackstone for the full 25-year investment record presented herein.
Reflects issuers across all asset types within Private Corporate Credit, Liquid Corporate Credit, and Infrastructure & Asset Based Credit, excluding FX derivatives and LP interests.
There can be no assurance that the investment allocation for BMACX or any potential Blackstone fund will be consistent with the following. There is no assurance that BMACX will access all these strategies or in any particular proportion, and available strategies may change from time to time.