Blackstone’s New Twist on Private Credit Will Open Up Billions
- New Blackstone fund will target rich Europeans for credit push
- ‘Time is ripe for private individuals to access this market’
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Blackstone Inc. is testing a new way to bring in cash from rich Europeans. If it succeeds, the private equity powerhouse stands to draw billions to the fast-growing and risky world of private credit.
Regulators last week approved Blackstone’s application to start a private credit fund in Europe with a structure similar to an open-end mutual fund. The key difference is that it can run in perpetuity, unlike traditional private credit funds that have a fixed lifespan. For Blackstone, it means cash can be recycled into new investments as loans are repaid, promising a steady stream of fees for managers.