Blackstone private credit fund co-CEO Jonathan Bock resigns
Jonathan Bock has stepped down as co-chief executive of Blackstone’s flagship private credit fund, a move that leaves Brad Marshall as the vehicle’s sole chief executive, according to a report by Bloomberg.
The report cites a regulatory filing as showing that Bock resigned on 20 July. Blackstone will not appoint a replacement for the co-CEO role, according to a person familiar with the decision.
Bock also resigned as co-CEO of the Blackstone Secured Lending Fund, which forms part of the firm’s private credit platform.
The filing said Bock’s departure was not related to any disagreement with Blackstone or the funds’ operations, policies or practices.
“During his tenure, Mr Bock made valuable contributions to the Blackstone Credit & Insurance perpetual credit funds platform,” the firm said.
Bock joined Blackstone in 2023 after building a profile as a business development company analyst at Wells Fargo, where he launched the quarterly BDC Scorecard publication. He later led Barings’ BDC business before moving to Blackstone.
His departure follows the exit last month of Katherine Rubenstein, who served as chief operating officer of the Blackstone Private Credit Fund, known as BCRED.
BCRED, which has approximately $78bn in assets, saw its net asset value fall 1.2% in June from the previous month. The decline was larger than those recorded by some comparable funds, prompting analysts to suggest that company-specific factors may have contributed to the performance rather than broader market pressures.
