# Blackstone Private Credit Fund Urges Investors to Reject Tender Offer at 12.5% NAV Discount

Canonical page: https://sequoia-research.com/news/blackstone-private-credit-fund-urges-investors-to-reject-tender-offer-at-12-5-nav-dis-93af4735

Author: Sequoia Research
Published: 2026-10-16T22:42:51.170Z
Updated: 2026-10-16T23:15:49.424Z
Original source: [Blue Vault](https://bluevaultpartners.com/blackstone-private-credit-fund-urges-investors-to-reject-tender-offer-at-12-5-nav-discount/)
Source published: 2026-10-05T14:26:11.000Z
Type: News
Topics: Alternative Investments

Blue Vault reports that Blackstone Private Credit Fund's board opposes an outside offer to buy Class I shares at $20.65. The offer from Cox Capital Retail Secondaries Fund I and affiliates is 12.5% below BCRED's August 31 net asset value of $23.60 and is capped at $20 million.

BCRED argues that the discount benefits the buyer at sellers' expense and contrasts the offer with its own NAV-based repurchase program. Its estimate that certain repeat tendering investors would recover about 75% of requested capital over roughly 90 days depends on resubmission and final processing; it is not a promise of immediate, unrestricted liquidity.

[Read the original](https://bluevaultpartners.com/blackstone-private-credit-fund-urges-investors-to-reject-tender-offer-at-12-5-nav-discount/)

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This Sequoia Research summary was prepared with AI assistance from the credited source. It is not independent verification of the source’s claims. The original publisher retains authorship of its reporting; follow the source link for the complete article.

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