Blackstone Closes $10 Billion Private Credit Fund
By Nicholas G. Miller
Blackstone closed a $10 billion opportunistic credit fund, hitting the fund's hard cap even as the private credit industry struggles to stem an outflow of capital driven by investor worries.
The company said the fund, called Blackstone Capital Opportunities Fund V, was oversubscribed.
"COF V is Blackstone's largest opportunistic credit fund raised to date, reflecting continued strong institutional demand for private credit. Amidst a noisy backdrop for the industry, we believe this fundraise demonstrates the strength of Blackstone's capabilities in private credit," said Lou Salvatore, co-portfolio manager of the Capital Opportunities Funds.
The private credit industry is in turmoil as investors, made anxious by a handful of high-profile defaults in the past year and the potential impact of AI on the software companies that funds lend to, pull their money out.
Last week, Blue Owl Capital said that investors in two of its biggest private-credit funds asked to pull out some $5.4 billion in the first quarter.
Blue Owl opted to cap redemptions in both funds at 5%, a reversal from its decision in January allowing shareholders to redeem 15% from one of the funds.
Write to Nicholas G. Miller at nicholas.miller@wsj.com
(END) Dow Jones Newswires
April 07, 2026 08:18 ET (12:18 GMT)
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