Jonathan Bock, co-chief executive officer of Blackstone Inc.’s flagship $78 billion private credit fund, is leaving the firm, according to a filing Friday.
Bock, who joined three years ago, resigned on July 20, the firm said. Blackstone won’t replace his role, with Brad Marshall taking the helm as sole CEO, a person familiar with the decision said.
Bock also resigned as co-CEO of Blackstone Secured Lending Fund.
“His departure was not the result of any disagreement relating to Blackstone or the Fund’s operations, policies or practices,” the firm said in the filing.
His exit comes after Katherine Rubenstein, the chief operating officer of the BCRED fund left last month.
“During his tenure, Mr. Bock made valuable contributions to the Blackstone Credit & Insurance perpetual credit funds platform,” the firm said in the filing.
Bock made his name as a BDC analyst at Wells Fargo & Co., where he started the quarterly BDC Scorecard publication. He then led Barings LLC’s business development companies before joining Blackstone in 2023.
BCRED’s net asset value declined 1.2% in June from the prior month — more than some of its peers — suggesting company-specific factors rather than wider market pressure, Bloomberg Intelligence analyst Michael Kaye wrote in a report this week.
Written by: Preeti Singh and Olivia Fishlow @Bloomberg
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