Welcome to our dedicated page for Blackstone Long-Short Credit Income Fund news (Ticker: BGX), a resource for investors and traders seeking the latest updates and insights on Blackstone Long-Short Credit Income Fund stock.
The Blackstone Long-Short Credit Income Fund (NYSE: BGX) is a diversified, closed-end management investment company under the umbrella of Blackstone, the world's largest alternative asset manager. Blackstone is renowned for its global investments spanning private equity, real estate, public debt, equity, infrastructure, life sciences, growth equity, and more. The primary objective of BGX is to seek high current income, while its secondary aim is the preservation of capital, aligning with its core goal of yielding high current income.
The fund employs a dynamic long-short strategy, focusing on a diversified portfolio of loans and fixed-income instruments, primarily from U.S. corporate issuers. These include first- and second-lien secured loans and high-yield corporate bonds with varying maturities. BGX's strategy ensures flexibility and adaptability to changing market conditions, potentially enhancing income and preserving capital over time.
Significant leadership changes were recently announced, with Robert Zable, a Senior Managing Director and the Global Head of Liquid Credit Strategies at Blackstone Credit, taking on the roles of Trustee, Chairman of the Boards of Trustees, President, and CEO of the Funds. Mr. Zable brings 28 years of industry experience. Additionally, Robert Post, another Managing Director and Portfolio Manager at Blackstone Credit, has assumed new responsibilities within the fund management.
Despite these leadership changes, the fund remains committed to its established strategies, investment objectives, and policies, continuing to deliver value to investors through its dynamic and diversified credit portfolio. The fund's monthly distribution strategy varies based on recent average monthly net income, providing flexibility and maintaining portfolio credit quality under diverse market conditions.
Blackstone Credit, a crucial part of Blackstone's operations, manages $297 billion in assets under management, focusing on generating attractive risk-adjusted returns across the corporate credit market. For investors seeking consistent updates and detailed information, Blackstone offers comprehensive resources through their official platforms.
Blackstone Credit & Insurance announced key leadership changes for its three closed-end funds (BSL, BGX, and BGB). Robert Zable resigned as Trustee, Chairman, President, and CEO, with Daniel Leiter appointed to these positions. Marisa Beeney stepped down as Chief Legal Officer and Secretary, replaced by Kevin Michel. Portfolio management changes include Robert Zable and Gordon McKemie stepping down, while Daniel McMullen and Meghan Fornshell became new portfolio managers, with Robert Post remaining. The funds' strategies, investment objectives, and policies will remain unchanged.
Blackstone Credit & Insurance has announced monthly distributions for three closed-end funds it advises: Blackstone Senior Floating Rate 2027 Term Fund (BSL), Blackstone Long-Short Credit Income Fund (BGX), and Blackstone Strategic Credit 2027 Term Fund (BGB). The distributions are set at $0.114, $0.101, and $0.093 per share respectively.
Key dates for these distributions are:
- Ex-Date: Sept 23, Oct 24, Nov 21, 2024
- Record Date: Sept 23, Oct 24, Nov 21, 2024
- Payable Date: Sept 30, Oct 31, Nov 29, 2024
The funds employ a dynamic distribution strategy, allowing for flexibility in maintaining portfolio credit quality and reducing the need for income reserves. Distributions may come from various sources, including short-term capital gain, long-term capital gain, or return of capital.
Blackstone Credit & Insurance announced corrected ex-dividend dates for its three closed-end funds: Blackstone Senior Floating Rate 2027 Term Fund (NYSE: BSL), Blackstone Long-Short Credit Income Fund (NYSE: BGX), and Blackstone Strategic Credit 2027 Term Fund (NYSE: BGB). Each ex-dividend date has been adjusted one day later than previously announced.
The new ex-dividend dates are June 21, 2024, July 24, 2024, and August 23, 2024. The corrected monthly distribution per share is $0.114 for BSL, $0.105 for BGX, and $0.101 for BGB. Payable dates are June 28, 2024, July 31, 2024, and August 30, 2024.
These distributions are aligned with each fund's average monthly net income and may vary quarterly. A portion of these distributions might come from sources other than net investment income. Final tax characteristics will be determined after the fiscal year's end. Blackstone Credit & Insurance aims to maintain portfolio credit quality and provide flexibility in varying market conditions.
Blackstone Credit & Insurance, an affiliate of Blackstone Alternative Credit Advisors, declared monthly distributions for three of its listed closed-end funds: Blackstone Senior Floating Rate 2027 Term Fund (NYSE: BSL), Blackstone Long-Short Credit Income Fund (NYSE: BGX), and Blackstone Strategic Credit 2027 Term Fund (NYSE: BGB).
The distribution amounts per share are $0.114 for BSL, $0.105 for BGX, and $0.101 for BGB. The ex-dates are June 20, July 23, and August 22, 2024, with corresponding record dates on June 21, July 24, and August 23, and payable dates on June 28, July 31, and August 30, 2024.
The distribution amounts typically vary each quarter based on the Funds' average monthly net income. A portion of these distributions may be sourced from short-term capital gain, long-term capital gain, or return of capital. The final tax characteristics will be determined post fiscal year-end.
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