BLACKSTONE PRIVATE CREDIT FUND
DISTRIBUTION AND SERVICING PLAN
October 5, 2020
This Distribution and Servicing Plan (the Plan) has been adopted on a voluntary basis in conformity with Rule 12b-1 (the Rule) under the Investment Company Act of 1940, as amended (the 1940 Act), by Blackstone Private Credit Fund, a Delaware statutory trust (the Fund), with respect to its classes of shares of beneficial interest (each, a Class) listed on Appendix A, as amended from time to time, subject to the terms and conditions set forth herein.
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Distribution Fee and Shareholder Servicing Fee
a. The Fund may pay to Blackstone Securities Partners L.P. (the Distributor), in its capacity as principal underwriter of the Funds shares of beneficial interest, with respect to and at the expense of each Class listed on Appendix A, a fee for (i) distribution and sales support services (the Distribution Fee), as applicable, and/or (ii) shareholder services (the Servicing Fee), and each as more fully described below (together, the Shareholder Servicing and/or Distribution Fee), such fee to be paid at the rate per annum of the aggregate NAV as of the beginning of the first calendar day of each applicable month of the Class specified with respect to such Class under the column Shareholder Servicing and/or Distribution Fee on Appendix A. The Distribution Fee under the Plan will be used primarily to compensate the Distributor for such services provided in connection with the offering and sale of shares of the applicable Class, and to reimburse the Distributor for related expenses incurred, including payments by the Distributor to compensate or reimburse brokers, other financial institutions or other industry professionals (collectively, Selling Agents), for distribution services and sales support services provided and related expenses incurred by such Selling Agents. Payments of the Distribution Fee on behalf of a particular Class must be in consideration of services rendered for or on behalf of such Class. However, joint distribution or sales support financing with respect to the shares of the Class (which financing may also involve other investment portfolios or companies that are affiliated persons of such a person, or affiliated persons of the Distributor) are permitted in accordance with applicable law. Payments of the Servicing Fee will be used to compensate the Distributor for personal services and/or the maintenance of shareholder accounts services provided to shareholders in the related Class and to reimburse the Distributor for related expenses incurred, including payments by the Distributor to compensate or reimburse brokers, dealers, other financial institutions or other industry professionals. Payments of the Shareholder Servicing and/or Distribution Fee may be made without regard to expenses actually incurred.
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Calculation and Payment of Fees
The amount of the Shareholder Servicing and/or Distribution Fee payable with respect to each Class listed on Appendix A will be calculated at the rate per annum of the aggregate NAV as of the beginning of the first calendar day of each applicable month, payable monthly in arrears, at the applicable annual rates indicated on Appendix A. The Shareholder Servicing and/or Distribution Fee will be calculated and paid separately for each Class.