SCHEDULE 13D

Blackstone Private Real Estate Credit & Income Fund

Common Shares of Beneficial Interest · CUSIP: 000000000

Event date: 2025-06-23

Reporting persons may disclose overlapping interests. Their amounts are shown individually and are not added into a filing total.

Filing-level shares

Unavailable

Percent of class

Unavailable

• BCRED X Holdings LLC

  Shares: 2,989,238.74 · Class: 34.0%

• Blackstone Private Credit Fund

  Shares: 2,989,238.74 · Class: 34.0%

• Blackstone Private Multi-Asset Credit and Income Fund

  Shares: 1,793,543.24 · Class: 20.4%

• Blackstone Private Credit Strategies LLC

  Shares: 4,782,781.99 · Class: 54.4%

• Blackstone Credit BDC Advisors LLC

  Shares: 4,782,781.99 · Class: 54.4%

• Blackstone Alternative Credit Advisors LP

  Shares: 4,782,781.99 · Class: 54.4%

• GSO Advisor Holdings L.L.C.

  Shares: 4,782,781.99 · Class: 54.4%

• Blackstone Holdings I L.P.

  Shares: 4,782,781.99 · Class: 54.4%

• Blackstone Holdings I/II GP L.L.C.Reported CIK 0001464695

  Shares: 4,782,781.99 · Class: 54.4%

• Blackstone Inc.

  Shares: 4,782,781.99 · Class: 54.4%

• Blackstone Group Management L.L.C.

  Shares: 4,782,781.99 · Class: 54.4%

• Stephen A. Schwarzman

  Shares: 4,782,781.99 · Class: 54.4%

Amounts are as disclosed in this filing. Schedule type alone does not establish investment intent.