Blackstone has promoted veteran direct lending lead Brad Marshall to global head of private credit strategies.
The promotion adds to Marshall’s roles as chairman and co-CEO of the firm’s two business development companies – Blackstone Private Credit Fund and Blackstone Secured Lending Fund.
Jonathan Bock, formerly the CEO of Barings BDC and a top ranked equity analyst at Wells Fargo, has joined the firm to serve alongside Marshall as co-CEO of the firm’s BDCs.
Blackstone said the new leadership roles correspond with the significant expansion of its credit arm, where total assets under management have grown 135% over the past five years to $234bn.
Dwight Scott, global head of Blackstone Credit, said, “Blackstone Credit and our BDCs have seen extraordinary growth over the past five years.
“Elevating Brad and adding Jonathan to our leadership team will help us continue to meet the strong customer demand for private credit strategies globally.
“Our BDC portfolios have broad exposure across sectors, comprising primarily senior secured, floating rate debt, and we believe they are well positioned for the current environment.”
Marshall joined Blackstone Credit in 2005, having previously worked in fixed income research and business development within RBC’s private equity funds effort.
Prior to that he helped develop a private equity funds business for TAL Global, a Canadian asset management division of CIBC.
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