RESOLVING THE LEDGER
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Concerns about the private credit market have prompted investors to withdraw capital from Blackstone 's (NYSE: BX) flagship private credit fund, BCRED (Blackstone Private Credit Fund). They requested to redeem 10% of their money in the second quarter, up from 7.9% in the first quarter, well above Blackstone's quarterly withdraw cap of 5%. These withdraws and concerns about the continued negative impact of private credit have sent Blackstone's stock down more than 30% from its 52-week high.
While the withdrawals are impacting the leading alternative investment manager's stock price, here's a look at what its latest quarter says about their effect on its overall results.
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