Blackstone Strategic Credit 2027 Term Fund
BGB
44 hedge funds and large institutions have $293M invested in Blackstone Strategic Credit 2027 Term Fund in 2015 Q1 according to their latest regulatory filings, with 6 funds opening new positions, 21 increasing their positions, 11 reducing their positions, and 10 closing their positions.
91% more repeat investments, than reductions
Existing positions increased: 21 | Existing positions reduced: 11
10% more capital invested
Capital invested by funds: $265M → $293M (+$27.7M)
4.5% more ownership
Funds ownership: 36% → 40.49% (+4.5%)
0% more funds holding in top 10
Funds holding in top 10: 4 → 4 (0)
10% less funds holding
Funds holding: 49 → 44 (-5)
40% less first-time investments, than exits
New positions opened: 6 | Existing positions closed: 10
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Deutsche Bank
Frankfurt Am Main Ge,
Germany
|
+$11.1M |
| 2 |
FIMG
Financial & Investment Management Group
Traverse City,
Michigan
|
+$5.58M |
| 3 |
OHA
Oak Hill Advisors
New York
|
+$4.73M |
| 4 |
KIM
Karpus Investment Management
Pittsford,
New York
|
+$3.8M |
| 5 |
Bank of America
Charlotte,
North Carolina
|
+$3.12M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
-$3.9M |
| 2 |
AQR Capital Management
Greenwich,
Connecticut
|
-$3.26M |
| 3 |
SG Americas Securities
New York
|
-$1.86M |
| 4 |
LCM
Laurion Capital Management
New York
|
-$667K |
| 5 |
Invesco
Atlanta,
Georgia
|
-$638K |
BGB Hedge Fund Activity: Q1 2015 in Review
44 of the 3,770 institutional investors tracked by Wall St. Rank reported a position in Blackstone Strategic Credit 2027 Term Fund (BGB) for Q1 2015, worth a combined $293M — up 10% from $265M a quarter earlier.
Sellers outnumbered buyers: 10 funds closed out of BGB and 6 opened new positions — a net loss of 4 holders — while 11 trimmed existing stakes and 21 added.
The largest buyer was Deutsche Bank, adding an estimated $11.1M. The largest seller was Saba Capital Management, cutting an estimated $3.9M.
- 44 institutional investors held Blackstone Strategic Credit 2027 Term Fund (BGB) as of Q1 2015, down from 49 in Q4 2014.
- Funds reported $293M of Blackstone Strategic Credit 2027 Term Fund stock for Q1 2015, up 10% quarter-over-quarter.
- 6 funds opened new Blackstone Strategic Credit 2027 Term Fund positions in Q1 2015 and 10 closed out, a net change of -4 holders.
- The largest Blackstone Strategic Credit 2027 Term Fund buyer in Q1 2015 was Deutsche Bank, an estimated $11.1M added.
- The largest Blackstone Strategic Credit 2027 Term Fund seller in Q1 2015 was Saba Capital Management, an estimated $3.9M sold.
Based on aggregated 13F filings for Q1 2015.