Blackstone Long-Short Credit Income Fund

Blackstone Long-Short Credit Income Fund is a diversified and closed-end investment management company. It engages in the provision of current income and capital appreciation. The firm involves in employing long-short strategy positions in a diversified portfolio of loans and fixed income instruments. The company was founded on October 22, 2010 and is headquartered in New York, NY.

Blackstone Strategic Credit Fund

Blackstone/GSO Senior Floating Rate Term Fund

NEW YORK , Nov. 15, 2024 /PRNewswire/ -- Blackstone Liquid Credit Strategies LLC, an affiliate of Blackstone Alternative Credit Advisors LP (collectively, and together with their affiliates in the credit, asset-based finance, and insurance asset management business unit of Blackstone Inc., "Blackstone Credit & Insurance" or "BXCI"), announced certain changes in Trustee and Officer positions, as well as the Portfolio Management team, for the three listed closed-end funds it advises, Blackstone Senior Floating Rate 2027 Term Fund (NYSE: BSL), Blackstone Long-Short Credit Income Fund (NYSE: BGX), and Blackstone Strategic Credit 2027 Term Fund (NYSE: BGB) (each a "Fund" and together the "Funds"). Effective November 15, 2024, Robert Zable resigned from his positions as Trustee and Chairman of the Boards of Trustees (the "Board") and as President and Chief Executive Officer of the Funds, and effective November 15, 2024, the Board appointed Daniel Leiter to these positions.

Blackstone Credit & Insurance Closed-End Funds Announce Trustee, Officer, and Portfolio Management Team Changes

The Blackstone Long-Short Credit Income Fund offers a 9.57% yield, but this is lower than its peers due to recent distribution cuts. BGX's focus on floating-rate senior loans means it won't benefit from interest rate cuts but will suffer a declining income going forward. The market expects 6 25-basis points of cuts before the end of next year, so we can expect several distribution cuts.

BGX: Distribution Cuts Likely To Continue, Dump This Fund

NEW YORK , Sept. 13, 2024 /PRNewswire/ -- Blackstone Liquid Credit Strategies LLC, an affiliate of Blackstone Alternative Credit Advisors LP (collectively, and together with their affiliates in the credit-focused business of Blackstone, Inc., "Blackstone Credit & Insurance"), announced monthly distributions for the three listed closed-end funds it advises, Blackstone Senior Floating Rate 2027 Term Fund (NYSE: BSL), Blackstone Long-Short Credit Income Fund (NYSE: BGX), and Blackstone Strategic Credit 2027 Term Fund (NYSE: BGB) (each a "Fund" and together the "Funds").

Blackstone Credit & Insurance Closed-End Funds Declare Monthly Distributions

Blackstone Long-Short Credit Income offers income-focused investors the ability to boost returns by shorting assets, unique among closed-end funds. The current yield of 10.03% may not be as attractive as other similar funds with higher yields, but it is still better than many other options. The BGX closed-end fund's leverage ratio of 31.83% is reasonable compared to peers, although it is very slightly higher than the last time that we discussed it.

BGX: A Good Way To Earn A 10% Yield Regardless Of When The Fed Cuts

NEW YORK , June 12, 2024 /PRNewswire/ -- Blackstone Liquid Credit Strategies LLC, an affiliate of Blackstone Alternative Credit Advisors LP (collectively, and together with their affiliates in the credit-focused business of Blackstone, Inc., "Blackstone Credit & Insurance"), recently announced monthly distributions for the three listed closed-end funds it advises, Blackstone Senior Floating Rate 2027 Term Fund (NYSE: BSL), Blackstone Long-Short Credit Income Fund (NYSE: BGX), and Blackstone Strategic Credit 2027 Term Fund (NYSE: BGB) (each a "Fund" and together the "Funds"). The ex-dividend dates in the prior press release announcing these distributions were incorrect and have been corrected below, with each ex-dividend date being adjusted to one day later than what was previously announced.

Blackstone Credit & Insurance Closed-End Funds Announce Corrected Ex-Dividend Dates for Monthly Distributions

The Blackstone Long-Short Credit Income Fund offers a high level of income with a 10.26% yield, comparable to other alternative credit funds. The fund has performed well, with a 6.97% appreciation in shares since the previous article was published. The fund's leverage is reasonable at 31.23% of its overall portfolio, and its distribution varies but is generally attractive.

BGX: Making All The Right Moves In Today's Market Environment

NEW YORK , Jan. 4, 2024 /PRNewswire/ -- Blackstone Liquid Credit Strategies LLC, an affiliate of Blackstone Alternative Credit Advisors LP (collectively, and together with their affiliates in the credit-focused business of Blackstone, Inc., "Blackstone Credit"), announced certain changes in Trustee and Officer positions for the three listed closed-end funds it advises, Blackstone Senior Floating Rate 2027 Term Fund (NYSE: BSL), Blackstone Long-Short Credit Income Fund (NYSE: BGX) and Blackstone Strategic Credit 2027 Term Fund (NYSE: BGB) (each a "Fund" and together the "Funds"). Effective December 31, 2023, Daniel H.

Blackstone Credit Closed-End Funds Announce Trustee and Officer Changes

NEW YORK , Dec. 11, 2023 /PRNewswire/ -- Blackstone Liquid Credit Strategies LLC, an affiliate of Blackstone Alternative Credit Advisors LP (collectively, and together with their affiliates in the credit-focused business of Blackstone, Inc., "Blackstone Credit"), announced monthly distributions for the three listed closed-end funds it advises, Blackstone Senior Floating Rate 2027 Term Fund (NYSE: BSL), Blackstone Long-Short Credit Income Fund (NYSE: BGX), and Blackstone Strategic Credit 2027 Term Fund (NYSE: BGB) (each a "Fund" and together the "Funds"). The Funds' monthly distributions are set forth below.

Blackstone Credit Closed-End Funds Declare Monthly Distributions

Blackstone Long-Short Credit Income offers an attractive 11.83% yield, in line with other alternative debt closed-end funds. The BGX closed-end fund aims to be interest-rate neutral, reducing negative impacts from interest rate increases. The fund has performed well over the past three years, outperforming the Bloomberg U.S. Aggregate Bond Index.

BGX: Very Solid Income CEF Unless Interest Rates Rapidly Decline

Carlyle Credit Income Fund

Eagle Point Income Company Inc

We review CEF market valuation and performance through the third week of September and highlight recent market action. Most sectors saw NAV gains, but discounts widened, particularly in the Covered Call and Equity sectors. Invesco trimmed distributions on many CEFs including IHIT, potentially indicating a termination of this CMBS 2023 term fund.

CEF Weekly Review: When Distribution Cuts Are Good News

Blackstone Long-Short Credit Income Fund is a closed-end fund that offers exposure to higher rates through senior loan investments. BGX has a diversified portfolio with a focus on secured loans and floating rate loans. The fund has an 11% yield and has been increasing its monthly distributions over the past year.

BGX: 11% Yield On Rising Rates, 11% Discount

Apollo Senior Floating Rate Fund

Fidgety credit markets have knocked down prices on healthy performing senior corporate loans, as well as many other credit asset classes. Wrap those loans in a closed-end fund, and then discount the CEF's market price, and you get a second discount. Like shopping with "double coupons" at your local grocery store.

Senior Loans On Sale For 80%; 'Double Discounts' On Closed-End Funds Like AFT And BGX

Highland Income Fund

Pioneer Diversified High Income Trust

Only funds with coverage >100% are considered. Top lists of discount, yield, DxY and DxYxZ are given. Top DxYxZ funds are HFRO, HNW and BGX.

The Quality Closed-End Fund Report, May 2023

Blackstone Long-Short Credit Income Fund is a fixed income closed end fund. The vehicle is overweight floating rate loans, and has a high leverage ratio of 40%.

BGX: Long/Short Loan Fund That Is Actually Just Long

MFS High Yield Municipal Trust

Western Asset Mortgage Opportunity Fund

Angel Oak Financial Strategies Income Term Trust

Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust

PGIM Global High Yield Fund

We review closed-end fund market valuation and performance through the third week of December and highlight recent market action. CEFs were mixed this week; however, discounts have continued to widen, extending a recent trend.

CEF Weekly Review: Ignore Yield-On-Cost Outside Of Tax Considerations

Ares Dynamic Credit Allocation Fund

Barings Global Short Duration High Yield Fund

Brandywine Global Income Opportunities Fund Inc

BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund Inc

DoubleLine Income Solutions Fund

Western Asset Global High Income Fund

Western Asset Emerging Markets Debt Fund

KKR Income Opportunities Fund

Principal Real Estate Income Fund

Pioneer High Income Trust

Franklin Templeton Emerging Markets Income Fund

Western Asset Diversified Income Fund

Only funds with yields over 8%, coverage higher than 90% and trading at a discount are considered. Top lists of discount, yield, DxY and DxYxZ are given.

'High-High-Low' Closed-End Fund Report, November 2022

The BGX fund is a long-short closed-end-fund that invests in high yield loans and bonds to generate income and capital gains. The fund's long-term distribution rate has far outstripped its modest returns, leading to shrinking NAV and distributions over time.

BGX: Unsustainable Distribution Rate

Flaherty & Crumrine Dynamic Preferred & Income Fund

BNY Mellon High Yield Strategies Fund 

DoubleLine Yield Opportunities Fund

Flaherty & Crumrine Total Return Fund Inc

Western Asset High Income Opportunity Fund Inc

Western Asset High Income Fund

John Hancock Preferred Income Fund

Nuveen Preferred & Income Securities Fund

Nuveen Real Asset Income & Growth Fund

Oxford Lane Capital

Pimco Global Stockplus & Income Fund

Pioneer Floating Rate Trust

RiverNorth Capital and Income Fund

XAI Octagon Floating Rate & Alternative Income Term Trust

Only funds with yields over 6.5%, coverage higher than 85%, and trading at under a +5% premium are considered. Top lists of discount, yield, DxY and DxYxZ are given.

The 'High-High-Low' Closed-End Fund Report, August 2022

Western Asset High Yield Defined Opportunity Fund Inc

Ivy High Income Opportunities Fund

Pimco High Income Fund

Western Asset Premier Bond Fund

YieldShares High Income ETF

Only funds with yields over 6.5%, coverage higher than 85% and trading at under a +5% premium are considered. Top lists of discount, yield, DxY and DxYxZ are given.

The 'High-High-Low' Closed-End Fund Report, July 2022

The Blackstone/GSO Long-Short Credit Income Fund difference is its strategy of being both long and short in Fixed Income assets. This dual strategy is more common for equities.

BGX: Why A Fund's Name Requires Looking Deeper

Apollo Tactical Income Fund, Inc.

Blackrock Limited Duration Income Trust

Credit Suisse Asset Management Income Fund

Doubleline Opportunistic Credit Fund

Credit Suisse High Yield Bond Fund

Eagle Point Credit

Stone Harbor Emerging Markets Total Income Fund

First Trust Intermediate Duration Preferred & Income Fund

New American High Income Fund

Nuveen Preferred & Income Term Fund

Cohen & Steers Ltd. Duration Preferred & Income Fund, Inc.

'High-High-Low' Closed-End Fund Report, February 2022: ARDC, HYB, JRI Buy Ratings Affirmed

ArrowMark Financial

Blackrock California Muni Income Trust

Eaton Vance California Municipal Income Trust

Eaton Vance New York Municipal Bond Fund

First Trust Dynamic Europe Equity Income Fund

Invesco High Income 2023 Target Term Fund

Nuveen Preferred & Income Opportunities Fund

Nuveen Ohio Quality Municipal Income Fund

Cushing MLP & Infrastructure Total Return Fund

Only funds with coverage >100% are considered. Top lists of discount, yield, DxY and DxYxZ are given. Top DxYxZ funds are EHI, JPI and WEA.

Quality Closed-End Fund Report, February 2022

NEW YORK, Dec. 20, 2021 /PRNewswire/ -- Blackstone Liquid Credit Strategies LLC, an affiliate of Blackstone Alternative Credit Advisors LP (collectively, and together with their affiliates in the credit-focused business of Blackstone Inc., "Blackstone Credit"), announced today a special distribution for each of the three listed closed-end funds it advises, Blackstone Senior Floating Rate Term Fund (NYSE: BSL), Blackstone Long-Short Credit Income Fund (NYSE: BGX), and Blackstone Strategic Credit Fund (NYSE: BGB) (each a "Fund" and together the "Funds"). These special distributions are in addition to each Fund's regular monthly distributions.

Blackstone Credit Closed-End Funds Declare Special Distributions

The fund will invest at least 70% of its assets in secured loans. The Fund's short positions may total up to 30% of net assets.

BGX: Long-Short Leveraged Loan Fund With A 6.5% Yield

First Trust Senior Floating Rate 2022 Target Term Fund

Fiduciary / Claymore Mlp Opportunity Fund

Western Asset Global Corp Defined Opportunity Fund Inc

Guggenheim Strategic Opportunities Fund

Kayne Anderson MLP Investment

We review CEF market valuation and performance over the third week of September and highlight recent market events. We discuss a few considerations for investors sitting on large CEF capital gains who are getting nervous.

News for Blackstone Long-Short Credit Income Fund ETF (BGX)