Blackstone Private Real Estate Credit & Income Fund 10-K Cybersecurity GRC - 2026-02-27

Page last updated on February 27, 2026

Blackstone Private Real Estate Credit & Income Fund reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2026-02-27 16:01:16 EST.

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10-K filed on 2026-02-27

Blackstone Private Real Estate Credit & Income Fund filed a 10-K at 2026-02-27 16:01:16 EST
Accession Number: 0002049733-26-000008

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Item 1C. Cybersecurity.

ITEM 1C. CYBERSECURITY Cybersecurity Risk Management and Strategy As an externally managed company, the Company's day-to-day operations are managed by its Adviser and executive officers under the oversight of the Company's board of directors. The executive officers are senior Blackstone Real Estate professionals and the Adviser is a subsidiary of Blackstone. As such, the Company is reliant on Blackstone for assessing, identifying and managing material risks to the Company's business from cybersecurity threats. Below are details Blackstone has provided to the Company regarding Blackstone's cybersecurity program that is relevant to the Company. Blackstone maintains a comprehensive cybersecurity program, including policies and procedures designed to protect its systems, operations, and the data utilized and entrusted to it, including by the Company, and the Adviser, from anticipated threats or hazards. Blackstone utilizes a variety of protective measures as a part of its cybersecurity program. These measures include, where appropriate, physical and digital access controls, patch management, identity verification and mobile device management software, new hire and annual employee cybersecurity awareness and best practices training programs, security baselines and tools to report anomalous activity, and monitoring of data usage, hardware and software. Blackstone tests its cybersecurity defenses regularly through automated and manual vulnerability scanning, to identify and remediate critical vulnerabilities. In addition, it conducts annual "white hat" penetration tests to validate its security posture. Blackstone internally examines its cybersecurity program on an annual basis and conducts a third-party review every two to three years to evaluate its effectiveness, in part by considering industry standards and established frameworks, such as the National Institute of Standards and Technology and Center for Internet Security, as guidelines. Further, Blackstone engages in annual cybersecurity incident tabletop exercises and scenario planning exercises involving hypothetical cybersecurity incidents to test its cybersecurity incident response processes. Blackstone's Chief Security Officer ("CSO"), and members of Blackstone's senior management, Legal and Compliance, Technology and Innovations ("BXTI"), and Global Corporate Affairs participate in these exercises. Learnings from these tabletop exercises and any events Blackstone experiences are reviewed, discussed, and incorporated into its cybersecurity incident response processes, as appropriate. In addition to Blackstone's internal exercises to test aspects of its cybersecurity program, Blackstone periodically engages independent third parties to analyze data on the interactions of users of Blackstone information technology resources, including Blackstone employees, and conduct penetration tests and scanning exercises to assess the performance of Blackstone's cybersecurity systems and processes. Blackstone has a comprehensive Security Incident Response Plan (the "IRP"), designed to inform the proper escalation (including, as appropriate, to the executive officers and other representatives of the Adviser or its affiliates) of non-routine suspected or confirmed information security or cybersecurity events based on the expected risk an event presents. As appropriate, a Security Incident Response Team composed of individuals from several internal technical and managerial functions may be formed to investigate and remediate the event and determine the extent of external advisor support required, including from external counsel, forensic investigators, and/or law enforcement. The IRP sets out ongoing monitoring or remediation actions to be taken after resolution of an incident. The IRP is reviewed at least annually by members of BXTI and Legal and Compliance. Blackstone maintains a formal cybersecurity risk management process and cybersecurity risk register, designed to identify, track and treat cybersecurity risks at the firm, and integrates these processes into the firm's overall risk management practices described above. Blackstone's CSO periodically discusses and reviews cybersecurity risks and related mitigants with its enterprise risk committee and incorporates relevant cybersecurity risk updates and metrics in the semi-annual enterprise-wide risk management report. Blackstone has a process designed to assess the cybersecurity risks associated with the engagement of third-party vendors, including those of companies externally managed by Blackstone. This assessment is conducted on the basis of, among other factors, the types of services provided and the extent and type of Blackstone data accessed or processed by a third-party vendor. On the basis of its preliminary risk assessment of a third-party vendor, Blackstone may conduct further cybersecurity reviews or request remediation of, or contractual protections related to, any actual or potential identified cybersecurity risks. In addition, where appropriate, Blackstone seeks to include in its contractual arrangements with certain of its third-party vendors provisions addressing its requirements and industry best practices with respect to data and cybersecurity, as well as the right to assess, monitor, audit and test such vendors' cybersecurity programs and practices. Blackstone also utilizes a number of digital controls, which are reviewed at least annually, to monitor and manage third-party access to its internal systems and data. For a discussion of how risks from cybersecurity threats affect the Company's business, and the reliance on Blackstone in managing these risks, see " Part 1. Item 1A. Risk Factors - Risks Related to the Company - Cybersecurity risks and data protection could result in the loss of data, interruptions in its business, damage to the Company's reputation, and subject the Company to regulatory actions, increased costs and financial losses, each of which could have a material adverse effect on its business and results of operations" in this Annual Report. 96 Table of C ontents Cybersecurity Governance Blackstone has a dedicated cybersecurity team, led by Blackstone's CSO , who works closely with Blackstone senior management, including Blackstone's Chief Technology Officer ("CTO"), to develop and advance the firm's cybersecurity program and strategy, which applies to the Company. Blackstone's CSO and CTO have extensive experience in cybersecurity and technology, respectively. Blackstone's CSO is a Senior Managing Director in BXTI and is responsible for all aspects of cyber and physical security across Blackstone. He has over 24 years of information security, technology and engineering experience, including having previously led the international security organization at a large credit bureau. Blackstone's CTO is a Senior Managing Director and the head of BXTI. The CTO has over 23 years of information security, technology and engineering experience, including having previously served as the Chief Technology and Chief Innovation Officer at a large financial institution. Blackstone's CTO is responsible for all aspects of technology across Blackstone, advises Blackstone's investment teams and acts as a resource to Blackstone portfolio companies, and externally managed companies, such as the Company, on technology-related matters. BXTI conducts periodic cybersecurity risk assessments, including assessments or audits of third-party vendors, and assists with the management and mitigation of identified cybersecurity risks. The CSO and CTO are responsible for the review of Blackstone's cybersecurity framework annually as well as on an event driven basis as necessary. The CSO and CTO also review the scope of Blackstone's cybersecurity measures periodically, including in the event of a change in business practices that may implicate the security or integrity of Blackstone's information and systems. The Company's board of directors is responsible for understanding the primary risks to its business. The audit committee of the board of directors is responsible for reviewing the Company's and its Adviser's IT security controls with management and evaluating the adequacy of the Company's and its Adviser's IT security program, compliance and controls with management. Blackstone's CSO or designee reports to both the Company's executive officers as well as its board of directors or the audit committee annually on cybersecurity matters, including risks facing the Company and the Company's Adviser and, as applicable, certain incidents. In addition to such annual reports, the Company's board of directors or audit committee receive periodic updates from Blackstone on the primary cybersecurity risks facing the Company and its Adviser and the measures the Company and its Adviser are taking to mitigate such risks, as well as on changes to the Company and its Adviser's cybersecurity risk profile or certain newly identified risks.

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