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Blackstone’s (NYSE:BX) private credit fund experienced increased pressure on its portfolio due to markdowns of dental-implant company Affordable Care (ACI Group Holdings) and software company Medallia.
The latest regulatory filing noted that these two holdings were marked down to 60.3 and 69.8, respectively. As a result, the fund saw a spike in non-accrual loans in April.
ACI, headquartered in North Carolina and founded in 1975, operates as a dental support organization specializing in tooth replacement solutions. Medallia provides a software platform that leverages artificial intelligence to …
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