Cox Capital Launches Tender Offers for Blackstone Private Credit and HPS Corporate Lending Funds
BLK sits 19% above its 52-week low of $917.39.
Summary
Cox Capital Partners announced tender offers for Class I shares of Blackstone Private Credit Fund (BCRED) at $20.65 per share and HPS Corporate Lending Fund (HLEND) at $20.17 per share, initially targeting up to $20 million in aggregate value per fund. The offers include a right to accept up to an additional 2% of each fund's outstanding Class I shares as of August 10. HPS Corporate Lending Fund reported an aggregate net asset value of $12.26 billion, portfolio fair value of $23.17 billion, and debt of $11.22 billion as of August 31, 2026. This is a third-party tender for shares of funds managed by Blackstone and BlackRock's HPS unit, potentially providing liquidity to existing shareholders. The pricing and size are modest relative to the funds' scale, but the tender could influence secondary market pricing and investor sentiment.
At the time of this announcement, BLK was trading at $1,088.00 on NYSE in the Finance sector, with a market capitalization of approximately $173.3B. The 52-week trading range was $917.39 to $1,219.94. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.