SCHEDULE: Blackstone Discloses 11.3% Stake in Crescent Capital BDC

Blackstone entities, including Stephen A. Schwarzman, have disclosed a collective 11.3% beneficial ownership stake in Crescent Capital BDC, Inc., totaling 4,205,307 shares.

Summary

• Blackstone ISG-I Advisors LLC and its controlling entities, including Blackstone Inc. and Stephen A. Schwarzman, collectively reported beneficial ownership of 4,205,307 shares of Crescent Capital BDC, Inc. common stock.
• This ownership represents 11.3% of the outstanding common stock of Crescent Capital BDC, Inc.
• The shares are held by F&G Accounts, which are managed by Blackstone ISG-I Advisors LLC.
• The percentage of ownership is calculated based on 37,061,547 shares of common stock outstanding as of May 14, 2025, as disclosed by the Issuer in its Form 10-Q.
• The reporting persons certify that the securities were acquired and are held in the ordinary course of business and not for the purpose or effect of changing or influencing the control of the issuer.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership and does not contain information that would inherently indicate a positive or negative sentiment regarding the company's performance or outlook.

Future Outlook

NA

Industry Context

This Schedule 13G filing indicates a significant passive investment by a major institutional investor, Blackstone, in Crescent Capital BDC, Inc. Such filings are standard disclosures when an entity acquires more than 5% beneficial ownership of a public company's stock without the intent to control or influence management. It signals a notable position by a prominent asset manager in the Business Development Company (BDC) sector.

Related Party Transactions

• Blackstone ISG-I Advisors LLC manages assets for subsidiaries of F&G Annuities & Life, Inc. (F&G Accounts), which is majority-owned by Fidelity National Financial, Inc. (FNF).
• FNF and certain of its affiliates separately file a Schedule 13G reporting beneficial ownership over the shares held by the F&G Accounts, indicating a coordinated reporting structure for these holdings.

Stakeholder Impact

• Shareholders may view the significant stake by a large, reputable investment firm like Blackstone as a vote of confidence in Crescent Capital BDC, Inc., potentially leading to increased investor interest.

Key Dates

Keywords

Crescent Capital BDC, Blackstone, Beneficial Ownership, SEC Filing, Schedule 13G, Investment Management, Institutional Investor, BDC, Common Stock