Brad Marshall, senior managing director, has been promoted to the new role of global head of private credit strategies, after nearly two decades with the firm, said Kate Holderness, Blackstone spokeswoman in an email.
"Blackstone Credit and our BDCs have seen extraordinary growth over the past five years," said Dwight Scott, global head of Blackstone Credit in a news release.
At the same time, Jonathan Bock has joined Blackstone as co-CEO of Blackstone's two business development companies, Blackstone Private Credit Fund and the Blackstone Secured Lending Fund. He will serve alongside Mr. Marshall, who had been sole CEO of Blackstone's two BDCs.
Mr. Bock had been CEO of Barings BDC, a business development company. Mr. Bock stepped down as CEO of Barings BDC on Dec. 16 and was replaced by Eric Lloyd, according to an SEC filing.
"Mr. Bock was a meaningful partner to our BDC team as well as our broader investment teams," Barings said in the SEC filing.
Blackstone's credit business has $234 billion in assets under management.