Blackstone's $80B Private Credit Fund Sees Redemption Requests Slow Sharply
BX sits 22% above its 52-week low of $101.73 on light trading volume (0.2× avg).
Summary
Redemption requests in Blackstone's $80B private credit fund (BCRED) have dropped materially early in Q3, President Jon Gray said on the Q2 earnings call. This follows a rise to 10% of shares in Q2, up from 7.9% in Q1, which had pressured the stock. The slowdown eases a key investor concern and suggests stabilizing sentiment toward the fund. It adds a positive layer to the strong Q2 earnings reported today, where distributable earnings jumped 26%.
At the time of this announcement, BX was trading at $124.29 on NYSE in the Finance sector, with a market capitalization of approximately $151.8B. The 52-week trading range was $101.73 to $190.09. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.