Blackstone Promotes Brad Marshall to Global Head of Private Credit Strategies

Blackstone has promoted Brad Marshall, a 17-year veteran and lead of the firm’s direct lending business, to the new role of global head of private credit strategies, which helped to fuel Blackstone Credit’s expansion over the past five years.

Marshall is adding to his role as Chairman and co-CEO of the firm’s two business development companies (BDCs), Blackstone Private Credit Fund and Blackstone Secured Lending Fund.

At the same time, Jonathan Bock, formerly the CEO of Barings BDC, has joined Blackstone as co-CEO of Blackstone’s two BDCs, serving alongside Marshall.

The new roles correspond with the expansion of Blackstone Credit, where total assets under management have grown to $234bn. PCS makes up about half of Blackstone Credit’s business and includes the BDCs.

“Elevating Brad and adding Jonathan to our leadership team will help us continue to meet the strong customer demand for private credit strategies globally,” said Dwight Scott, global head of Blackstone Credit.

Blackstone’s private credit investment performance rose 3% in the third quarter, the strongest of its main strategies.