Blackstone Credit Announces Name Changes for Three Closed-End Funds

Rhea-AI Summary

On December 10, 2020, Blackstone Liquid Credit Strategies LLC announced name changes for three closed-end funds it advises: Blackstone / GSO Senior Floating Rate Term Fund (BSL), Blackstone / GSO Long-Short Credit Income Fund (BGX), and Blackstone / GSO Strategic Credit Fund (BGB). The new names will be effective immediately, but there will be no changes to the investment objectives, management, or ticker symbols. This move reflects Blackstone Credit's integration with The Blackstone Group since its acquisition of GSO in 2008, ensuring stability in the team's structure and operational processes.

Positive

• No changes to investment objectives or strategies of the funds.
• No alterations to management and operational structure.

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• None.

NEW YORK, Dec. 10, 2020 /PRNewswire/ -- Blackstone Liquid Credit Strategies LLC, formerly known as "GSO / Blackstone Debt Funds Management LLC" and an affiliate of Blackstone Alternative Credit Advisors LP, formerly known as "GSO Capital Partners LP" (collectively, and together with their affiliates in the credit-focused business of The Blackstone Group Inc., "Blackstone Credit"), announced name changes for the three listed closed-end funds it advises. The name changes are being made in connection with Blackstone Credit's recent name change from "GSO", reflecting the business's longstanding integration with The Blackstone Group, Inc. ("Blackstone") since Blackstone acquired GSO in 2008. The business's team, process, and infrastructure remain intact, with no operational changes due to the name change.

Blackstone / GSO Senior Floating Rate Term Fund (NYSE: BSL), Blackstone / GSO Long-Short Credit Income Fund (NYSE: BGX), and Blackstone / GSO Strategic Credit Fund (NYSE: BGB) (each a "Fund" and together the "Funds") are being renamed to "Blackstone Senior Floating Rate Term Fund", "Blackstone Long-Short Credit Income Fund", and "Blackstone Strategic Credit Fund", respectively, effective December 10, 2020. No change will be made to each Fund's investment objective and strategy, or in Fund management. There will be no changes to the Funds' ticker symbols on the New York Stock Exchange.

About Blackstone and Blackstone Credit

Blackstone is one of the world's leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with $584 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis.

Blackstone Credit is one of the world's largest credit-focused asset managers, with $135 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.

Investors wishing to buy or sell shares need to place orders through an intermediary or broker.

Contact the Funds at 1 (877) 299-1588 or visit the Funds' website at www.blackstone-credit.com for additional information.

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SOURCE Blackstone

FAQ

What are the new names for the Blackstone funds?

The funds are renamed to Blackstone Senior Floating Rate Term Fund (BSL), Blackstone Long-Short Credit Income Fund (BGX), and Blackstone Strategic Credit Fund (BGB).

When did the fund name changes take effect?

The name changes took effect on December 10, 2020.

Will the fund ticker symbols change after the renaming?

No, the ticker symbols for the funds will remain the same: BSL, BGX, and BGB.

What impact does the name change have on fund management?

There will be no changes to fund management or operational processes due to the name change.

What is Blackstone Credit's asset management size?

Blackstone Credit has $135 billion in assets under management.