Blackstone announced that Brad Marshall,who has been leading the firm's direct lending efforts for nearly 17 years, has been promoted to Global Head of Private Credit Strategies (PCS), adding to his role as Chairman and co-CEO of the firm's two business development companies (BDCs), Blackstone Private Credit Fund (BCRED) and Blackstone Secured Lending Fund. Jonathan Bock,formerly the CEO of Barings BDC and a top ranked Equity Analyst at Wells Fargo, has joined the firm to serve alongside Brad as Co-CEO of the firm's BDCs. The new leadership roles correspond with the significant expansion of Blackstone Credit, where total assets under management have grown 135% over the past five years to $234 billion.

PCS makes up approximately half of Blackstone Credit's business and includes the BDCs. Prior to joining Blackstone, Jonathan was CEO of Barings BDC. In addition to this role, he served as Co-CEO and President of Barings Private Credit Corporation, and Chief Financial Officer of Barings Capital Investment Corporation, Barings Corporate Investors, and Barings Participation Investors.

Prior to joining Barings in July 2018, Jonathan was a Managing Director and Senior Equity Analyst at Wells Fargo Securities specializing in BDCs. He has actively followed the BDC space since 2006 and was the chief author of a leading BDC quarterly research publication: the BDC Scorecard. Jonathan holds a bachelor's degree in finance from the University of Illinois College of Business and is a member of the CFA Institute.